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Version date: 8 July 2021 - onwards

8.1.4 Treatment of action type "Revive".

Closed
30 September 2021

550. In case during the thirty days after a derivative became non-outstanding, the counterparty or the ERR submits a report with action type "Revive", the TR should process the report and based on the information included in it regarding "Event date" and "Expiration date" or "Early termination date", assess whether to reinclude it in the TSR or simply update its own records relating to that derivative (linked to the Alternative on treatment of "event date" included in section 8.1.2). The reporting counterparty or the ERRs should provide complete information regarding the expiration date and the early termination date of a derivative. The provided information should follow the logical timeline sequence included in the validation rules. "Event date" and "Early termination date" therefore should not be in the future.

551. Where the "Expiration date" in the derivative report is in the future or it is not populated, the TR should include the derivative in the TSR with all the values that have been included in the submission with action type "Revive".

552. Where the "Expiration date" or the "Early termination date" are both in the past, the TR should update its own records, but not the TSR. (linked to the Alternative on treatment of event date included in section 8.1.2).

553. Where the "Expiration date" is in the future, but the "Early termination date" is in the past, the TR should update its own records, but not the TSR. (linked to the Alternative on treatment of event date).

554. The below table summarises the relevant instances.