"Open" |
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Indicates that the contract is an open arrangement, which remains in effect unless or until terminated at the option of one or both parties. Repo business rule: When the repo is 'Open', the forward leg MUST NOT be specified. SBL business rule: When a security lending arrangement is 'Open', the termination block ('termination/settlementDate') MUST NOT be specified.
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"Term" |
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Indicates that a contract is a regular term contract, with a start date and an end date. Repo business rule: When the repo is 'Term', both spot and forward legs MUST be specified. SBL business rule: When a security lending arrangement is 'Term', both the initiation block ('initiation/settlementDate') and the termination block ('termination/settlementDate') MUST be specified.
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