Market Watch 62

October 22, 2019

MW62: Transaction Reporting

The FCA have written to the market for an unprecedented 2nd time in a year regarding the requirement for reconciliations.

They have highlighted the below common errors they have been seeing in TR data. The CN tools are being reviewed and if required updated to capture all these items.

  • Price and price currency not consistent
  • Price multiplier inconsistent with price and quantity
  • Inaccurate reporting of national ids (1st 2nd 3rd priorities)
  • Buyer DM = buyer id
  • Buyer DM not populated when client is buyer
  • Buyer DM not populated when asset manager has a fund as buyer
  • Buyer as fund when investment manager expected
  • Wrong executing entity
  • Submitting entity must be the ARM
  • Misuse of INTC
  • Default of SSI to UNDI
  • Default of Commodity Derlivative indiocator to FALSE for transactions executed in financial instruments that are not commodity derivatives.