TR Accuracy Product Release – 06/11/2023

KEY POINTS

TR Accuracy

EMIR – 3 validation amendments;
MiFIR – 3 validation amendments;
All Regimes – 2 Client Reference Data changes, 2 Statistics and Benchmarking reports changes, 1 new report configuration;
TRAC Portal – 1 user interface amendment;
Action Log – 2 functionality improvements

WHAT DO YOU NEED TO DO?
All users are recommended to restart TRAC desktop tool after the release.
Client using local versions of the client reference data files: ‘client configuration’ or ‘fund managers’ should update the files with new fields. Affected clients will be contacted by Control Now Product team with instructions.

For clients using the Portal versions of the reference data, the file formats will be updated automatically.

Ref	Product	Chnage	Affected feature	Client description	Issue key
1	Accuracy: EMIR	Fix: Validation	E143 – Product identification (2.6) and Asset Class (2.2) mismatch: Credit	We have amended an issue with validation underflagging when ISIN is not available.	DEV-3265
2	Accuracy: EMIR	Fix: Validation	E130 – Option exercise style (2.79) – FIRDs Mismatch	We have amended validation to correctly flag for “Option Exercise Style” = ‘Other’.	DEV-3239
3	Accuracy: EMIR	Fix: Validation	E7 – Reporting Counterparty ID (1.2) with no reporting obligation based on HQ location	We have updated the validation to include EEA countries, rather than just EU countries.	DEV-3268
4	Accuracy: MiFIR	Enhancement: Validation	M121 – Net amount (35) blank for debt instrument	Amended validation logic to avoid double flagging cases already flagged by core validation MC111 and MC262.	DEV-3267
5	Accuracy: MiFIR	Fix: Validation	M109 – Underlying index name not populated where underlying is an index	We have corrected an issue with validation not being triggered.	DEV-3324
6	Accuracy: MiFIR	Fix: Validation	M106c – Underlying (47/48) not identified – overreporting (“Instrument identification code” (41) listings are outside of trading dates)	Amended validation logic to avoid double flagging cases already flagged by core validation MC220.	DEV-3295
7	Accuracy: All Regimes	Enhancement: MI	TR Accuracy: Statistics	We have amended the Statistics report to generate separate tab (report) for each client entity, as defined in ‘Client Configurations’ reference data file.	DEV-3075
8	Accuracy: All Regimes	Enhancement: MI	TR Accuracy: Benchmarking, TR Accuracy: Statistics	We have reorganized the Statistics and Benchmarking reports generated on TRAC tool by splitting these reports into two separate files for more clarity.	DEV-1970
9	Accuracy: All Regimes	Reference data	Client Reference Data: Fund Managers	We have added new fields to ‘Fund managers’ reference data to allow clients to indicate sub-funds, funds set up exclusively for the purpose of serving employee share purchase plans and funds that are securitisation special purpose entities. New fields were added for the purposes of EMIR REFIT validations.	DEV-1940
10	Accuracy: All Regimes	Reference data	Client Reference Data: Client Configurations	New field added to allow clients to indicate where reporting was delegated to a third party. New field was added for the purposes of EMIR REFIT validations.	DEV-3218
11	Accuracy: All Regimes	New Report Configuration	Reports settings	We have added a new functionality on the Portal to allow client choose fields to be visible on the output details reports.	DEV-1089
12	Accuracy: TRAC Portal	Portal UI	Portal Menu	We have reorganized the left hand side menu on the portal by creating a new section for reports.	DEV-3224
13	Accuracy: Action Log	Portal Configuration	Action Log	We have added new dropdown options to Action Items to allow tracking ongoing projects: TR Direct (Product field) and EMIR Refit (Regime field).	DEV-3259
14	Accuracy: Action Log	Bug	Action Log	We have improved user experience on Action Logs – filtering will not be lost when Action Item dialog box is closed.	DEV-3326

Please let us know if you have any questions: client.support@control-now.com.

Control Now can help you seamlessly manage such changes as amendments and modifications are automatically integrated into our software.

For more details, including a demo of our products, please contact: info@control-now.com

Control Now Ltd, is a provider of Transaction Reporting software tools to empower market participants to perform oversight of their Regulatory Reporting Processes. Control Now Ltd accepts no liability for any loss or damage caused by use of or reliance on this information or any other information published by Control Now Ltd. Recipients of this information must perform their own due diligence to confirm the information is accurate and relevant for their business scenario. Control Now Ltd reserves its right to re-publish the information.