Product Release – 03.02.20

January 22, 2020

We have the following features due for release on the 3rd February 2020.

This update will require all users of TR Accuracy or TR Completeness to download the latest version of TRAC. Current versions of TRAC will no longer work following release date (0700 03/02/20).

To download the latest version of the tool access your portal then navigate to download and locate the TRAC client executable.

For features which are configurable (TR Accuracy MI report and validations etc), you will be able to log into your management portal and turn them off if you do not wish to see the functionality.

Please let us know if you have any questions; .

 

Issue key Summary Product Description
DEV-292 Reorganize the ref data and the resources TR Accuracy An update has been made to the applications reference data and files folder structure.
DEV-317 Multi-threading (Parallel Processing) – Performance improvement TR Accuracy / TR Completeness Enable solution to run multiple records through validation in parallel, improving validation speed performance.
DEV-314 Header Management – Case sensitivity TR Accuracy Our system has relaxed its logic for accepting header rows. We now except a combination of upper and lower case characters. Additionally we allow for situations where a field is named correctly but with trailing spaces.
DEV-233 New Global Reference Data Source: Indices TR Accuracy New reference data table for the validation of indices.

Provides a link between “index_name”, “index_isin”, “alternate_names”, “component_parts”, “mifir_reportable”.

DEV-219 TRA MiFIR MI v1.9 TR Accuracy New MI report for MiFIR;

17 – Instrument Distribution

DEV-218 Branches Reference data TR Accuracy New client reference data source developed to provide the list of country codes where branches of the investment firm are located.

Used to validate population of branch fields (buyer/seller country of branch, branch for supervising investment decision and execution decision)

DEV-312 Bug Fix: MIFIR Unavista ingestion: NIDN TR Accuracy / TR Completeness Bug fix for Unavista file ingestion.

Counterparty id type fields updated to expect ‘NIDN’ instead of ‘NIND’ (Unavista specific logic) for the following fields;

buyer_id_type (6), buyer_dm_code_Type (12), seller_id_type (17), seller_dm_code_Type (23), investment_decision_within_firm_type (65), execution_within_firm_type (68)

DEV-217 Client Configurations update (v2) TR Accuracy Update to the client configurations reference data to include additional fields;

%_HFT: Reporting firm to populate with the % of data which is expected to be completed with a HFT strategy (Article 4(1)(40) of MiFID II Directive (EU) 2014/65). This will be used as a threshold figure, that we expect reported to microseconds (M14) – See RTS 2017/ 574.

Timestamp_waiver: Should be populated with ‘Y’ or ‘N’ to indicate if the reporting firm can report exchange traded transactions to a granularity of 1 second.  Default to N. Set to Y if reporting firm executes on exchange with voice systems, request for quotes systems or Negotiated transactions, Voice trading systems, Request for quotes systems, Negotiated transaction

cc_execution_decision: If all execution decision makers for a firm are supervised by a single branch, then the 2 letter country code of that branch should be populated here.

DEV-216 TRA – MiFIR Validations Update – V5.8 TR Accuracy Validation Updates
M44/M45 – Turned on
M38, 39, 41, 42 – “Buyer DM fields populated when they should’t be” – Updated logic and turned on – clause added so validations don’t run if ref data not populated.
M52a (now M52)- “Country of branch for investment decision maker not correct – single branch responsible” – Updated logic and turned on
M123 – M128 – CC codes – turned on
M36 – Venue reported with no membership – Updated and turned on – clause added so validations don’t run if ref data not populated.
M163 – Turned off – keeps getting triggered because FIRDs allows invalid ISINs into the DB.
M165, M166 – turned on – “invalid ISIN – check digit”
M194, M196 – updated to check where venue = XXXX or XOFF
M122 – Trade date time granularity – exchange traded – added clause for timestamp waiversValidation Deleted (Re-added as new validations – see below)
M14 – Buyer = Seller – captured in MI now.
M15 – Trade time default value
M52b,c,d – Branch of investment decision – deleted and not re-added
M137 – Execution Decision = Investment decision makerNew Validations
M3 – Buyer Country of Branch Not HQ
M4 – Buyer Country of Branch Not Recognised
M5 – Seller Country of Branch Not HQ
M6 – Seller Country of Branch Not Recognised
M85 – Client buy order on exchange and transmission indicator = true
M86 – Client sell order on exchange and transmission indicator = true
M14 – Trade date time granularity – HFT
M7 – Country of the branch membership not recognised (venue)
M8 – Country of the branch membership (venue) – unexpected value
M87 – Country of branch for execution decision maker – Unexpected value (DM ref data)
M88 – Country of branch for execution decision maker (Single branch)
M15 – Country of the branch for execution – invalid branch
M52 – Country of branch for investment decision maker – Unexpected value (DM ref data)
M50 – Country of branch for investment decision maker (Single branch)
M51 – Country of the branch for investment – invalid branch
DEV-236 MiFIR TRA Validations update – v5.9 TR Accuracy Updated validations
M36 – Removed clause not running validation if reference data is blank.
M193 – Typo updated – stated MTCH rather than AOTC
M139 – Default trade date time = 1 min past midnight – turned on (bug fix)
M174 – M179 – NonEEA NP ID – not 1st priority – turned onDeleted Validations
M28 – Underlying index term needed where underlying is an Index.
M104 – Just a warning – if the products have an ISIN it should be reported in the Instrument Identification field even if it is not listed in FIRDs.
M105 – Not admitted to trading – underlying instrument id blank
M138 – ‘Quantity = currency and price = currency
M161 – Underlying Instrument ID and Underlying index name populated
M181 – M186 – NIND for GB – Disallowed prefix integrated into other NP ID validations
M188 – Country of branch for the buyer not populated when it should have been. (market side ref)
M189 – Country of branch for the seller not populated when it should have been. (Market Side Ref)
M140 – M145 – Natural Person – CONCAT – Prefixes
M146 – M151 – Natural Person – CONCAT – Prefixes
M158 – M159 – First Names – Titles
M180 – Inconsistent use of NP ID (added to MI ref 23)New Validations
M18 – Buyer not identified in reference data
M25 – seller not identified in reference data
M203 – M212 – Buyer/seller country of branch field populated when unexpected.
M188 – Executing Entity is MiFIR investment firm = False
M189 – Executing Entity is MiFIR investment firm = True
M103 – SB Underling Index Price
M213 – CFD Underling Index Price
M137 – Option Underling Index Price
M162 – Option Price Type
M214 – Traded Currency doesn’t match LSE Listed Currency – Instrument Id
M215 – SB/CFD: Underlying Currency doesn’t match LSE Listed Currency
M216 – Reported price higher than exchange high for day
M217 – Reported price lower than exchange low for day
M218 – Underlying price higher than exchange high for day
M219 – Underlying price lower than exchange low for day
M105 – Underlying index id not populated
M107 – Underlying index id populated with wrong value
M108 – Underlying index name not populated
M28 – Underlying index name populated for non index