TR ACCURACY PRODUCT RELEASE – 19.03.2021

March 12, 2021

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

The release includes:

  • Summary report for EMIR and MIFIR: Various enhancements to Summary report
  • EMIR: 10 amended validations, 1 new reference data
  • MiFIR: 1 new MI, 10 new validations, 9 amended validations, 3 deleted validations

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:

Ref Product Change Summary Client Description ID
1 Accuracy: Summary Report Enhancement: MI TRA: Report Template Update (include ref data) We have added information about used reference data to the Summary Report. TRD-125
2 Accuracy: Summary Report Enhancement: MI Add information of recognised input format to the TRA Summary report We have added information about recognised input file format to the Summary report. TRD-241
3 Accuracy: Summary Report Enhancement: MI TRA Update: Add MI Summary page to TRA report We have added an additional tab to the summary report displaying basic MI. TRD-124
4 Accuracy: Summary Report Enhancement: MI TRA Summary report – add info for CN config settings We have added 2 new columns on TRA summary report – tab: ‘Validation status’: presenting default Impact and Status of each validation. TRD-222
5 Accuracy: Summary Report Enhancement: MI TRA Summary report – % of errors TRA Summary report – new column added to display & of all validated reports flagged by each validation. TRD-219
6 Accuracy: Summary Report Enhancement: MI Add Client and Username details to the HC Summary Adding details to EMIR and MIFIR MI – displaying Client and username used to generate the report TRD-9
7 Accuracy: Summary Report New MI MiFID & EMIR Report output – new csv report ‘BLACKLISTED_DISABLED’ Added new optional report displaying all reports that would be flagged by disabled validations and exceptions to validations managed by client via Blacklist. TRD-103
8 Accuracy: MiFIR New MI New MiFID MI: HFT New MI, replacing validation M14. MI shows breakdown of the timestamp granularity used for high frequency trading. TRD-231
9 Accuracy: MiFIR New Validation New swap validations: M247, M248, M249, M250, M251 TRA MIFID – 5 new validations specific to swaps and equity swaps TRD-109
10 Accuracy: MiFIR New Validation New validation: M252 Expiry date longer that maturity of underlying product New validation verifying if a derivative’s Expiry date is no later than the Maturity date of it’s underlying. TRD-7
11 Accuracy: MiFIR New Validation New Validation: M246 Country of the branch membership for SI New MIFID validation verifying correct population of ‘Country of the branch membership’ field TRD-6
12 Accuracy: MiFIR New Validation New Validation: M245 Country of the branch membership for XOFF/XXXX New MIFID validation verifying correct population of ‘Country of the branch membership’ field TRD-5
13 Accuracy: MiFIR New Validation New validation: M244/M241 Different branches reported for joint account of the Buyer/Seller 2 new validations verifying correct population of “Country of the branch for the buyer/seller” field for joint account owners TRD-116
14 Accuracy: MiFIR Enhancement: Validation M107 – Underlying index ID populated with incorrect ISIN value – Double Flagging Validation amended to avoid duplicated flagging by M160 TRD-251
15 Accuracy: MiFIR Fix: Validation M104, M138 – should only validate bonds Validations amended to flag only for bonds, instead for all debt products. TRD-117
16 Accuracy: MiFIR Fix: Validation M214 – validate only for venue=LSE Restricting validation to executions on LSE. TRD-102
17 Accuracy: MiFIR Fix: Validation M216, M217 – validate only for venue=LSE Restricting validation to executions on LSE. TRD-97
18 Accuracy: MiFIR Fix: Validation UPDATE M211/M206 – Seller/Buyer country of branch populated when seller is not a client – venue MIFID validation correction: Adding exception to not trigger an error when the seller ID is present in ‘client’ reference data. TRD-10
19 Accuracy: MiFIR Fix: Validation M110 bug – add exceptions for non-derivatives Adjusted validation to not flag for securities with underlying (e.g. depository receipts on equities). TRD-185
20 Accuracy: MiFIR Delete: Validation Delete validations: M201, M202 Validations deleted as duplicating xml schema validations (CON-251) TRD-273
21 Accuracy: MiFIR Delete: Validation Delete validation M14 Validation has been replaced by the new HFT MI. TRD-232
22 Accuracy: EMIR Reference data ISIN Blacklist Ref data: Allow for all validations Enabling the use of ‘Blacklist’ reference data for EMIR validations TRD-8
23 Accuracy: EMIR Fix: Validation E93 ETD not with CCP – correction to match against CCP field TRA EMIR Validation amendment: amend check on CCP field TRD-217
24 Accuracy: EMIR Fix: Validation E122, E123 – include venue ID in FIRDS matching criteria Tightened validation rules to include a match on Venue MIC code in FIRDs search if applicable. TRD-212
25 Accuracy: EMIR Fix: Validation E116 – double flagging when E114 is already flagged Raised change to avoid flagging records already flagged by E114 TRD-207
26 Accuracy: EMIR Fix: Validation E106 – amending validation to only flag for underlying indices Correcting the validation to flag only for equity index products TRD-218
27 Accuracy: EMIR Fix: Validation E107 – add exception for underlying ‘government_bond’ and cross-ccy swap Amending validation to not flag when underlying is a government bond and for cross currency swaps – such trades will be reported as IR and can be physically delivered. TRD-216
28 Accuracy: EMIR Fix: Validation E118 – Basket allowed to be reported with Underlying ‘NA’ Amending validation to not flag when Underlying has been reported as ‘NA’ to account for ‘cheapest to deliver’ scenario as per TR Q28c TRD-215
29 Accuracy: EMIR Fix: Validation E7 – post brexit adjustment Amending validation to not flag for UK entities. TRD-277
30 Accuracy: EMIR Fix: Validation E90 double flagging with E141, E142, E143, E144, E145 Amending validation to avoid double flagging when one of the related validation has already been triggered TRD-213
31 Accuracy: EMIR Fix: Validation E143 – flagging derivatives with gov bond as underlying Adjusted validation to avoid flagging where underlying instrument is a government bond, as the correct ‘Asset Class’ value for such derivatives is ‘IR’ instead of ‘CR’ TRD-214