TR ACCURACY PRODUCT RELEASE – 07.05.2021

April 30, 2021

We have a product release due on the 07.05.2021 at 1700 UK local time.

KEY POINTS

  • 1 Summary report enhancement for all regimes
  • EMIR – 4 new validations, 8 validation amendments, 2 new MI reports;
  • MiFIR – 3 new validations, 27 validation amendments, 1 new MI, 4 MI amendments, 3 deleted validations

WHAT DO YOU NEED TO DO?

There is no action required from the users.

Ref Product Change Affected feature Client Description Issue key
1 Accuracy: EMIR, MiFIR Summary report Config settings Enhancing Summary report by adding information on the config settings (CN config vs Client config) TRD-285
2 Accuracy: EMIR New Validation E93a – ETD not with CCP – RM
E93b – ETD not with CCP – Equivalent Market
E93c – ETD not with CCP – MTF/OTF
We have split validation verifying correctness of reported CCP into 3 validations to account for executions on different types of venues TRD-305
3 Accuracy: EMIR New Validation E180 – Intragroup (2.38) populated where not required New EMIR Validation flagging if Intragroup is populated where traded on venue or 3rd country equivalent market. TRD-268
4 Accuracy: EMIR New MI Delegated Trades – expected New EMIR MI providing information on expected delegated reports and submitted delegated reports. TRD-278
5 Accuracy: EMIR New MI Delegated Trades – submitted New EMIR MI: providing a summary of all submitted delegated reports and counterparties. TRD-275
6 Accuracy: EMIR Enhancement: Validation E91 – Client not populated as Beneficiary for Agency trade Change in the logic that allows clients to not input any data regarding individual clients into client reference data (CRD_CL). TRD-304
7 Accuracy: EMIR Fix: Validation E116 – FIRDs Mismatch: Venue of execution Fixing a bug with recognising 3rd country venues TRD-332
8 Accuracy: EMIR Fix: Validation E80a – New position with no valuation Adjusting validation to account for RegisTR allowing to submit new position report and position valuation report on a single record. TRD-311
9 Accuracy: EMIR Fix: Validation E167 – Collateral report without collateral data Adjusting logic to use ‘collateral_portfolio_code’ instead of ‘collateral_portfolio’ field TRD-310
10 Accuracy: EMIR Fix: Validation E161 – ISIN in Product Identification Code – country code incorrect
E163 – ISIN in Underlying Identification – country code incorrect
Adding 2 codes (EU, XS) not present on ISO country codes list, but allowed to be used in ISIN codes. TRD-307
11 Accuracy: EMIR Fix: Validation E164 – ISIN in Underlying Identification – check digit incorrect Correcting validation rule to not flag when Underlying ID is blank. TRD-303
12 Accuracy: EMIR Fix: Validation E179 – CCP ID not recognised Modifying validation to avoid double flagging with E93 TRD-294
13 Accuracy: MiFIR New Validation M255 – Venue (36) must be XOFF for client side of grouped orders New validation verifying population of field Venue for a grouped orders scenario TRD-280
14 Accuracy: MiFIR New Validation M253 – Instrument classification (43) not matching for put option A new validation which will identify a put option as identified in the instrument description field which doesn’t match the CFI code reported. TRD-200
15 Accuracy: MiFIR New Validation M256 – Trading capacity (29): DEAL or MTCH and Discretionary mandate New validation verifying if correct Trading Capacity was used for transaction reports executed with discretionary mandate TRD-272
16 Accuracy: MiFIR Enhancement: Validation M35 – SS indicator required for executions with clients Adjusting logic to consider ‘3rd country’ classification for post-Brexit status of UK TRD-324
17 Accuracy: MiFIR Enhancement: Validation M1 – LEI of Investment Firm in Seller, but SS indicator not populated Adjusting logic to consider ‘3rd country’ classification for post-Brexit status of UK TRD-323
18 Accuracy: MiFIR Enhancement: MI Bonds Pricing MI Updated MIFID MI for Bonds pricing to include calculation on correctness of ‘Net Amount’ field (previously validations M104 and M138) TRD-225
19 Accuracy: MiFIR Enhancement: MI Summary Report We are adding summary information regarding NCA approval status to the Summary report (previously present only in MI report) TRD-296
20 Accuracy: MiFIR Enhancement: MI HFT MI Amending timestamp granularity identification, taking into consideration mandatory microseconds padding. TRD-282
21 Accuracy: MiFIR Enhancement: MI Underlying Index MI Updating ‘Underlying Index’ MI to filter out credit and interest products which may have ‘Underlying Index Name’ field populated. MI is displaying only Index based products. TRD-260
22 Accuracy: MiFIR Enhancement: MI Matched Capacity MI We’ve added new features to Matched Capacity MI. Added new table: Reporting Firm Aggregated Position TRD-105
23 Accuracy: MiFIR Fix: Validation M83a – TRs suggest product admitted to trading, but ISIN admitted to trading after transaction date (same day) Fixed bug in the logic causing false positive results. TRD-319
24 Accuracy: MiFIR Fix: Validation M234 – Country of the branch for the buyer (8) is invalid
M235 – Country of the branch for the seller (17) is invalid
Fixing an issue with flagging where buyer/seller was an account with joint owners TRD-318
25 Accuracy: MiFIR Fix: Validation M249 – Price for Equity Swaps not expressed in percentage or basis points Fixing issue with interpretation of price expressed as percentage. TRD-312
26 Accuracy: MiFIR Fix: Validation M164 – Invalid Underlying ISIN – country code Updating validation to avoid triggering for valid ISINs begining with ‘EU’ TRD-306
27 Accuracy: MiFIR Fix: Validation M85, M86, M194, M196, M167, M35, M203, M208, M38, M41, M44, M45, M160, M220, M221, M222, M223, M224 Amending 18 validations to make sure they trigger only if a counterparty is not considered both: client and market side depending on the trading scenario. Validations are only to be triggered where counterparty is considered only in one role. TRD-302
28 Accuracy: MiFIR Fix: Validation M137 – Option Underlying Index Price Amending validation to not flag for swaptions. TRD-287
29 Accuracy: MiFIR Fix: Validation M35 –  SS indicator required for executions with clients Restricting validation to not flag where transfer is identified. Adjusted Instrument types this validation is applicable to. TRD-281
30 Accuracy: MiFIR Fix: Validation M1 – LEI of Investment Firm in Seller, but SS indicator not populated Adjusting ‘Short Selling Indicator’ validation to exclude 3rd country government bonds TRD-233
31 Accuracy: MiFIR Delete: Validation M251 – Expiry Date (55): should be populated for OTC swaps Validation to be replaced by MI TRD-314
32 Accuracy: MiFIR Delete: Validation M104 – Net Amount for Bonds (Clean Price) – Above Threshold
M138 – Net Amount for Bonds (Clean Price) – Below Threshold
2 MiFID validations related to ‘Net Amount for bonds’ are to be deleted and replaced by MI. TRD-224

 

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