© 2021 KOR Financial Inc.

KOR SDR Disclosure Document

2021-04-01
 

KOR SDR Disclosure Document 1

Table of Contents

................................................................................................................................................... 0

Table of Contents........................................................................................................................ 1

1. Criteria for providing access to KOR SDR ............................................................................... 2

2. Criteria for Market Participants seeking to connect to the SDR.............................................. 2

3. Policies and procedures regarding the SDR’s safeguarding of SDR Data and operational 

reliability to protect the confidentiality and security or SDR Data ................................................ 2

4. Policies and procedures to protect the privacy of SDR Data................................................... 2

5. Policies and procedures regarding the SDR’s non-commercial and/or commercial use of SDR 

Data............................................................................................................................................ 2

6. Dispute resolution procedures.............................................................................................. 3

7. Description of KOR SDR services ........................................................................................... 3

8. KOR SDR Fee Schedule.......................................................................................................... 3

9. SDR’s Governance Arrangements.......................................................................................... 3

10. Policies and Procedures Regarding the Reporting of SDR Data to the SDR, Validation 

Procedures, and Procedures for Correcting Data.......................................................................... 3
 

KOR SDR Disclosure Document 2

1. Criteria for providing access to KOR SDR

Market Participant’s requirements to access the SDR are outlined in the KOR SDR Rulebook section “Client 

Access to Data”.

References CFTC Rules §49.26(a).

2. Criteria for Market Participants seeking to connect to the SDR

In order to submit data to KOR SDR, a Market Participant must first become a Client by executing a Client 

Agreement and then write to the KOR SDR API1. The fields and validations for submission are defined in the 

KOR Technical Specification, details for writing to the KOR SDR API will be provided to Client’s in the KOR SDR 

API documentation. Market Participants that only require view access must execute a Client Agreement and 

then can query and view their data via a web based UI without writing to the KOR API. 

References CFTC Rules §49.26(b).

3. Policies and procedures regarding the SDR’s safeguarding of SDR 

Data and operational reliability to protect the confidentiality 

and security or SDR Data

KOR has implemented corporate policies to ensure that confidential information is treated appropriately and 

managed in alignment with business goals and in accordance with legal and regulatory requirements and

professional standards.

Please reference the KOR SDR Rulebook section “System Safeguards.”

References CFTC Rules §49.26(c).

4. Policies and procedures to protect the privacy of SDR Data

KOR SDR has implemented policies and procedures to protect the privacy of SDR Data. In order to gain access 

to non-public data a Market Participant must first become a Client of the SDR as described in the KOR SDR 

Rulebook section: “Client access to data.” 

References CFTC Rules §49.26(d).

5. Policies and procedures regarding the SDR’s non-commercial 

and/or commercial use of SDR Data

Generally, data accepted and maintained by the SDR may not be used for commercial or business purposes

by the swap data repository or any of its affiliated entities.

1 KOR uses JSON format for its API.
 

KOR SDR Disclosure Document 3

KOR SDR has implemented adequate “firewalls” or controls to protect the reported SDR data required to be

maintained under CFTC Rule 49.12 and Section 21(b) of the CEA from any improper commercial use.

However, a Client that submits SDR data maintained by the SDR, may permit the commercial use by 

providing express written consent. Such consent shall not be a requirement to report to the SDR. If such

Client consent is given, KOR may not make such consented data available for commercial use prior to its

public dissemination.

References CFTC Rules §49.26(e).

6. Dispute resolution procedures

The dispute resolution procedures are outlined in the KOR SDR Rulebook section “Dispute Resolution.”

References CFTC Rules §49.26(f).

7. Description of KOR SDR services

KOR SDR is registered for and accepts data in the following Asset Classes: interest rates, credit default 

swaps, equities, foreign exchange, and other commodities. To maintain its SDR status, KOR shall continue to 

demonstrate substantial compliance with all applicable provisions of its orders and applicable rules and 

regulations under Parts 49, 45, 43, and 40 of CFTC Rules.

Details regarding the SDR are outlined in the KOR SDR Rulebook, in sections: “Client duties and obligations 

regarding CFTC Rule Part 45 data,” “Client data reporting standards regarding CFTC Rule Part 45,” “Part 45: 

Correcting errors in Swap Data and verification of Swap Data accuracy,” “Unique Identifiers”, “SDR duties and 

obligations regarding CFTC Part 45 data,” “Client Data Reporting standards regarding CFTC Rule Part 43,” “SDR 

duties and obligations regarding CFTC Part 43 data,” “ SDR System”

References CFTC Rules §49.26(g).

8. KOR SDR Fee Schedule

KOR SDR’s fee schedule is available on the KOR website. 

References CFTC Rules §49.26(h).

9. SDR’s Governance Arrangements

The SDR’s governance arrangements are outlined in the KOR SDR Rulebook section “Corporate Structure,” the 

“Board of Directors Conflicts of Interest Policy,” and the “SDR Governance Principles”. 

References CFTC Rules §49.26(i).

10. Policies and Procedures Regarding the Reporting of SDR 

Data to the SDR, Validation Procedures, and Procedures for 

Correcting Data
 

KOR SDR Disclosure Document 4

Market Participant’s requirements to connect and report to KOR SDR are outlined in the KOR SDR Technical 

Specifications and the KOR SDR Rulebook sections: “Client duties and obligations regarding CFTC Rule Part 45 

data,” “Client data reporting standards regarding CFTC Rule Part 45,” “Part 45: Correcting errors in Swap Data 

and verification of Swap Data accuracy,” “Unique Identifiers”, “SDR duties and obligations regarding CFTC Part 

45 data,” “Client Data Reporting standards regarding CFTC Rule Part 43,” and “SDR duties and obligations 

regarding CFTC Part 43 data.”

References CFTC Rules §49.26(j).