Effective date

355. Effective date is the date at which obligations under the derivative come into effect, as included in the confirmation. If the counterparties did not specify the effective date as part of the terms of the contract, field 'Effective date' should be populated with the date of execution of the derivative.

356. This also applies to cash-settled commodity derivatives as well as in the case of novations.

357. Execution timestamp should reflect the date and time when the derivative was originally executed. It should therefore not be changed when counterparties report lifecycle events (e.g. partial termination) for a given derivative.

Expiration date / early termination date

358. The expiration date is the unadjusted date at which obligations under the derivative stop being effective, as included in the confirmation. Early termination does not affect this data element. The expiration date can be used to determine whether the trade is outstanding or not. The content of this field in case of non- confirmed trades should be as specified in the contract between the counterparties.

359. This applies to both OTC and ETD derivatives.