TR ACCURACY PRODUCT RELEASE – 19.02.2021

February 12, 2021

We have a product release due on the 19th February 2021 at 1700 UK local time.

The release includes:

  • 27 validation amendments
  • 4 new validations
  • 1 new MI
  • 2 MI enhancements
  • 1 change to Client reference data
  • 1 change to Global reference data

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.

If your TRAC version is from before 18 December 2020, please download new version from CN Portal: ‘Resources -> Downloads’ as your current TRAC version will no longer work following release date.

If your TRAC version is from after 18 December 2020, 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.

Please let us know if you have any questions: .

Issue key Issue Id Summary Description
TRD-4 13356 M189 Executing Entity is MiFIR investment firm =True- correction of logic TRA MIFID: disabling validation when “investment_firm_covered_by_201465eu” is false
TRD-110 13349 M28 – updates for false positives TRA MIFID: Amending validation to avoid false flagging for swaps, credit and interest rate instruments.
TRD-66 13273 M200, M85, M86, M194, M195, M196, M197 – updates to “transmission_of_order_indicator” validations TRA MIFID: 7 Validations related to “transmission_of_order_indicator” were updated to include more accurate definition of a ‘trading venue’
TRD-94 13267 TRA MiFIR MI Update: V2.4 Updated MiFID MI: Decision Maker – tightened rules on comparing Investment and Execution Decision makers.
TRD-106 13204 TRA MiFIR MI Improvement – v2.3 – SS Indicator Update to MiFID MI: Short Selling. Adding new columns to display if transaction has been identified as client or market side.
TRD-82 13088 M114 correction to include all debt instruments TRA MIFID: validation amended to flag for all debt instruments
TRD-86 13068 New validation M242: SI and INTC: Client side New MIFID validation, designed to verify correctness of reporting transactions executed on SI and using aggregate client account (‘INTC’).
TRD-88 13067 New validation M243: SI and INTC: Market side New MiFID validation, designed to verify correctness of reporting transactions executed on SI and using aggregate client account (‘INTC’).
TRD-84 13065 M49: Venue = SI but neither Buyer or Seller populated: UPDATE LOGIC TRA MIFID: Modification to existing validation to not flag where aggregate client account (INTC) is used. New validations, are created to cover INTC cases.
TRD-53 12678 repurpose ‘ISIN Blacklist’ to use for CFI exceptions We have change the format of Client Reference data: ISIN Blacklist to allow using it for CFI blacklisting. If you are using the Blacklist file in your Accuracy setup, please update it to new format after release (see Client Reference Data Requirements document for more information).
TRD-59 12624 New MiFIR MI: FCA Extract Status TRA MIFID: new MI providing breakdown of the statuses for records in an FCA extract
TRD-63 12595 M68, M70, M126 – add clause to avoid double flagging Amended 3 MiFID validations to avoid flagging the same issue by multiple validations.
TRD-56 12588 New Validation: M240 Execution Decision Maker not identified in Ref Data New MiFID validation added to verify if ID used in field ‘Execution Decision Maker’ is recognised.
TRD-58 12587 New Validation: M239 Investment Decision Maker not identified in Ref Data New MiFID validation added to verify if ID used in field ‘Investment Decision Maker’ is recognised.
TRD-60 12586 M52 Update: Country of branch for investment decision maker – Unexpected value (DM ref data) Amended MiFID validation to avoid flagging if Client Reference Data has not been set up.
TRD-62 12585 M87 Update: Country of branch for execution decision maker – Unexpected value (DM ref data) Amended MiFID validation to avoid flagging if Decision Maker Reference Data has not been set up.
TRD-69 12580 M232 – do not flag when M83 is already flagged TRA MIFID: amending validation to avoid double flagging
TRD-68 12576 M36 – use ‘TV’ definition (excludes SIs) TRA MiFID: Amending validation to not flag for transactions with SIs.
TRD-64 12561 M8 – avoid double flagging Added a clause to MiFID validation to avoid flagging the same issue more than once.
TRD-54 12556 M164 – add exceptions Updating validation to avoid triggering for valid ISINs built using country code that does not exist on ISO list.
TRD-115 12555 M233 – logic correction TRA MIFID: Added exceptions to validations to avoid false positive flags
TRD-65 12551 M115 – delete (and amend M30) Amending MiFID validation to correctly identify warrants and deleting duplicated validation.
TRD-77 12501 M14, M16, M122 Timestamp granularity for SIs TRA MIFID: Validations were adjusted to exclude SI transactions from granularity checks designed for venues
TRD-112 12500 M95a – correct logic for FIRDS fields used TRA MIFID: amending validation to use correct fields in FIRDS
TRD-113 12499 M93a – correcting the FIRDS lookup and adjusting logic for repeatable fields TRA MIFID: amending validation to use all available ‘Underlying’ fields in FIRDS and to account for repeatable values (Baskets)

 

Control Now Ltd, founded in 2017, is a provider of Transaction Reporting Assurance software tools to empower market participants to perform oversight of their Regulatory Reporting Processes.

Control Now Ltd provide TR Accuracy (Data Quality Assurance) and TR Completeness (Reconciliations) services. Please get in touch for a Free Health Check – .