PRODUCT RELEASE – 06.04.20

March 24, 2020

We have the following features due for release on the 6th April 2020 at 0700 UK Local time.

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; .

Release Date 03/04/2020 0700
New TRAC Version Required Yes

 

If “New TRAC Version Required” = Yes, then all users will be required to download the latest version of TRAC (TR Accuracy and Completeness). Current versions of TRAC will no longer work following release date. To download the latest version of the tool, access your portal then navigate to download and locate the TRAC application.

If “New TRAC Version Required” = No, then this update will not require any action from users of TR Accuracy or TR Completeness. All changes will automatically be applied to your solution from the release date.

Issue key Summary Fix Version/s Description Due date
DEV-279/DEV-404 MIFIR New and updated Validations TRAC_230320 New Validations
M230 – Quantity currency must be blank for Quantity type = Unit – Flags where quantity currency is populated where quantity type = UNIT
M231: Quantity for CFDs should be reported in Units – flags where product is a CFD and the quantity is not reported in units.
M232: Invalid Instrument Identification code for Venue: XOFF – Identifies where an instrument id ISIN has been reported which wasnt valid on trading date when venue = XOFF.
M233: Operating MIC code used where segment MIC is available – we will flag where an operating MIC has been used when a segment MIC is available.M104 – Net Amount for Bonds (Clean Price) – Above threshold
M138 – Net Amount for Bonds (Clean Price) – Below Threshold
M140 added – No ISIN for non EEA exchange – ISIN available
M141 added – No ISIN for non EEA exchange – warningUpdated Validations
M3/M5: Seller Country of Branch – Not HQ – Update to allow for repeated values.Deleted Validations
M133 – Price for Bonds – To be replaced by a new MI report – Ticket TMD-6. Due next release.
M163 – Invalid Instrument ID – country code – Updated to not trigger where ISIN stats with EZ or ES
M104, M114, M117, M118, M20, M21, M22, M121, M120, M32, M138 – added clause to lookup isin_blacklist

MiFIR Validation Names Updated
M114 – Quantity for bonds should be nominal or monetary value.
M118 – Quantity for spreadbet should be monetary value.
M20 – Price for options should be monetary value.
M21 – Price for spreadbets should be monetary value

03/04/2020
DEV-235 MiFIR MI Spec v2.0 Update TRAC_230320 New MiFIR MI Reports
Unit Price MI – Distinct instrument and price (H/L, % difference)
Buyer/Seller Type MI – Type MI displayed as pie chart
SpreadBets MI – Average bet size (GBP), Highest bet size (GBP), Lowest bet size (GBP)
CONCAT analysis – Flags records which dont match CONCAT logic from guidelines
Inconsistent use of NP id – Flags records where names duplicated for different NP id codes.Updated MiFIR MI Reports
Top 10 trading time – produce a csv file to a company table
Report Status – Added additional logic for handling 2 stage updates
03/04/2020
DEV-443 M214 Update: Instrument Currency Doesnt Match the LSE listed Currency TRAC_230320 Bug Fix to M214: Instrument Currency Doesnt Match the LSE listed Currency

We will no longer run this validation if the price_type on the record != ‘MONE’.

03/04/2020
DEV-406 M106 – Bug Fix – Look up Baskets TRAC_230320 We have updated the logic for validation MiFIR 106.

The validation checks the contents of the underlying was present in FIRDS on trade date.

This validation was not functioning correctly on Baskets. This has now been corrected.

03/04/2020
DEV-272 ISIN Validity Tool – FIRDS listing check. TRAC_230320 Control Now have released new functionality available for all users of TR Accuracy or TR Completeness to allow a bulk validation of ISINs on trade date to confirm if they were listed in FIRDS.

The user can upload a csv file containing a list of ISINS and Trade dates. The tool will return a csv file confirming id there was a FIRDS listing for that ISIN on that date (Y/N).

Users can gain access to this functionality on request from Control Now.

03/04/2020
DEV-437 NRR EMIR File Format – New Header TRAC_230320 CN have updated the ingestion module for NRR EMIR file formats to allow all UPPER_CASE formats for the field header.

Note: NRR do not enforce their header format. As such, reported data often is submitted with a different format to the specification.

03/04/2020
DEV-407 MIFIR Unavista csv and Excel Normalisation TRAC_230320 Update to ingestion logic for the following fields from Unavista files;

Trading date time
Investment decision within firm type
Execution decision within firm type

03/04/2020
DEV-330 TR Completeness – Filtering logic and report output update TRAC_230320 Added 2 new filters to TR Completeness processing.

1) Client data: Out of date range
If raw.TD < earliest FCA.TD
Or
If raw.TD > latest FCA.TD
Then;
Filter client record (FCA_TD)

2) Updates and cancels filter
For FCA file;
If (Count DISTINCT(TRN)) >1 then
take latest TRN (submission date time)
IF report status = N then filter all previous versions (Updated)
IF report status = CĀ  then filter all previous versions (Cancelled)

For Client file;
If Count DISTINCT(TRN)) >1 then
take latest TRN (file index)
IF report status = N then filter all previous versions (Updated)
IF report status = C then filter all previous versions (Cancelled)

Also – report output format updated.

03/04/2020
DEV-436 Local reference data – ISIN blacklist TRAC_230320 New client reference data source to allow for FIRDS validations to be ignored based upon ISIN. The data should be populated with the ISIN and the validation number. Those validation numbers will then no longer be triggered for those ISINs.

See reference data specification available from the download section of the portal for more detail.

03/04/2020
DEV-275 Client Validations Ref data update TRAC_230320 Updated to include “accrued interest”. Needed for validation M104.

Please see specification available from the downloads section of the portal. Note: If reference data is not updated to include this field, then system will assume field is blank.

03/04/2020
DEV-227 New Global Ref Data: ESMA regulated Entity Global_Reference_data_230320 New reference data source: ESMA regulated entities.

https://registers.esma.europa.eu/publication/searchRegister?core=esma_registers_upreg

03/04/2020
DEV-226 New Global Ref Data: FCA TV SI DRSP Global_Reference_data_230320 New reference data source – FCA entities. Runs once weekly.

https://register.fca.org.uk/servlet/servlet.FileDownload?file=0150X000006asKG

03/04/2020
DEV-215 Business / Operational and Client facing changes to CN Portal Portal_230320 Changes to the web portal;

Authentication: Added a forgot password functionality.
Validation comments: Updated so read users do not have the ability to make changes.
Audit: Updated read and write users can view the audit of changes made from the portal.
Audit: Changes to the following information from the portal now saved to the audit table; usage reporting download, user creation, user password updates, settings updates.
Audit report: We have added the ability to export audit information based on trade date and user
Email addresses: Now available for admin users to edit.
MI Configuration: Update to user experience when saving configuration changes.

03/04/2020
DEV-283 Metadata configuration Portal_230320 We currently store meta data to allow us to run anonymised statistics on all accuracy validations we completed. We have now made this an optional module. When turned off, the reporting firm will not be eligible for the industry benchmarking report. 03/04/2020