PRODUCT RELEASE – 27.11.2020

November 18, 2020

We have the following features due for release on the 27th November 2020 at 1700 UK Local time.

The release includes 9 system improvements, 7 MiFIR validation improvements, 2 new MiFIR MI, 1 MIFIR MI improvement and various new Portal GUI functionalities and enhancements.

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 2020-11-27
New TRAC Version Required No

If “New TRAC Version Required” = Yes, then all users will be required to download the latest version of TRAC. 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 client executable.

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 Issue Id Summary Fix Version/s Description Due date
DEV-1022 13255 FCA Extract Normalisation – v1.7 (19) TRAC_271120 Updated Control Now FCA XML normalisation services to:
1) Accept XML Repeatable values.
2) Add “+” or “-” signs to the Underlying instrument name and code fields for Swaps. For swap in (buys) the fields will start with “+” and vice versa
27/11/2020
DEV-1027 13219 TVTIC MI TRAC_271120 New MiFIR MI which will allow firms to spot check the TVTICs which are being reported in their data.

TVTICs are usually provided to the reporting firm by the venue, so firms can use this MI to review and spot check the information being provided by the venue.

27/11/2020
DEV-995 13203 MiFIR MI – Counterparty Analysis – Ignore Cancellations TRAC_271120 We have updated the MI report for counterparty analysis to ignore cancellations, as cancellations show a blank buyer/seller in the extract from the FCA. 27/11/2020
DEV-994 13201 M18/M25 – Repeated values bug fix TRAC_271120 We have updated the validations for unexpected buyer (M18)/sellers (M25). It was previously flagging where expected counterparties were populated but repeated.

e.g. expected_cpty1|expected_cpty_2

27/11/2020
DEV-993 13200 Branch Reference Data Validations – Logic Update TRAC_271120 Updated validations referencing the “Branch” reference data. Previously the following validations used to check the branch reported was included in the branch reference data.

These validation have been updated so they also check then home member state (where the investment firms HQ is registered).

Validations affected;

M4: “Buyer counter of branch – Not Recognised”
M6: “Seller counter of branch – Not Recognised”
M7: “Country of the branch membership (venue)”
M15: “Country of the branch for execution – invalid branch”
M51: “Country of the branch for investment – invalid branch”

27/11/2020
DEV-976 13173 TRC (core) – new record level report: Unidentified cases TRAC_271120 Introduced a new data field in TRC Summary report – showing number of raw data entries which did not fall into any of the Cases defined in the logic. 27/11/2020
DEV-888 13026 TRA and TRC Output and Reference Data selection box TRAC_271120 Enable a more user friendly file and folder selection process. Client can not select the folder location they wish to output TR Accuracy and Completeness reports to via a folder selection folder explorer window. Client are also able to see and select the reference data files required via a file explorer window. 27/11/2020
DEV-883 12999 TRA Operational Error Messages TRAC_271120 Error logging for TR Accuracy improved. All reference data files now undergo additional validations on ingestion. TRA will provide feedback if the file doesn’t meet the required format. 27/11/2020
DEV-882 12986 Portal validations comments count and impact TRAC_271120 Portal: amended the Portal configuration to properly register changes related to Impact and Comments for validations. 27/11/2020
DEV-835 12892 TRA – Create a File level summary feature on the Report Summary sheet TRAC_271120 Control Now services now produce an additional table displaying the TR Accuracy summary results per file. This functionality is automatically activated and applied when Control Now client runs multiple files in one run. 27/11/2020
DEV-800 12808 Search added to portal TRAC_271120 Search bar added to validations page. 27/11/2020
DEV-798 12800 TRC Standard – error handling service TRAC_271120 Control Now added an additional feature to their Completeness solution which will enable clients to see their completes error log in an additional sheet in the summary report. The feature improves clients ability to monitor and identify breaks cause due to missing static data. 27/11/2020
DEV-796 12796 Portal SideBar Menu TRAC_271120 Control Now have updated the side bar structure in their web portal. 27/11/2020
DEV-588 12567 Update to current ref data: DM ID TRAC_271120 Control Now have updated the DM ID reference data supplied by clients to the TR Accuracy solution. The reference data is used to validate the identifiers reported in the execution and investment decision maker fields.

An additional column has been added to file called “name” which allows users to add a name which is used in MI reports.

The new field is optional, so if it is provided, TR Accuracy will use the information to enhance MI reports. If the column is added to the reference data but not populated, the solution will still work.

Additionally, clients are not required to make any changes to their reporting solutions if they do not want. TR Accuracy will still accept the old file format.

27/11/2020
DEV-587 12566 New MiFIR MI: “125k Permission: Matched Principal reported as 2 x deal” TRAC_271120 New MI to help firms where they execute 2 x deal transactions for a matched principal execution.

The MI can be used to monitor that both legs have been reported with identical information (Time, quantities, products, etc).

27/11/2020
DEV-569 12527 Make Global Reference Data In GUI client facing TRAC_271120 Global reference data used for validations has been added to the Portal section: ˜Resource’s” for the users to view and download. 27/11/2020
DEV-421 12300 Portal – Usage reporting report – add percentage of errors column & new template TRAC_271120 Added rates of identified inaccuracies to the usage reports. 27/11/2020
DEV-419 12298 Automatic usage reporting configuration TRAC_271120 Added ability to scheduling the daily, weekly and monthly reports according to user’s preference. 27/11/2020
DEV-183 11584 Make Password Strict TRAC_271120 Enhanced password security requirements for new users. 27/11/2020

 

Control Now, founded in 2017, is a provider of transaction reporting assurance software tools to empower market participants to perform oversight of their regulatory reporting processes.