181. Counterparties should not send a report with action type 'Terminate', when a derivative reaches its maturity date and therefore is no longer outstanding. Once the maturity date is reached, the derivative will be automatically treated as non-outstanding.

182. If the counterparties agree to terminate a derivative prior to the maturity date or to terminate the open term derivative, they should either:

a. Submit a report with action type 'Terminate' where the agreed termination date is for the same day as the notice of termination, or

b. Submit a report with action type 'Modify' where the agreed termination date is the following day or later. In this case, the counterparties should modify the maturity date accordingly.

183. The counterparties should not send a report with action type 'Terminate' if the termination date falls on the maturity date. This includes e.g. when a counterparty exercises an option on the maturity date.

184. In a case of a netted position, counterparties may either decide to keep it open and report valuation on a daily basis or to terminate such position (and report with action type 'New' and new UTI in case it needs to be reopened). Both counterparties should report consistently. This aspect is covered in more detail in the section 3.7.

Event date