KEY POINTS

• EMIR – 2 validation amendments, 2 new MIs, 2 report configuration settings
• EMIR Reconciliation – 1 new ingestion format, 1 new MI, 1 MI amendment
• MiFIR – 8 new validations
• MiFIR Core – 1 validation amendment
• Portal Action Log – 1 functionality amendment, 1 notification amendment
• 1 new Client Reference Data

WHAT DO YOU NEED TO DO?

All users are recommended to re-start their TRAC desktop tool after the release. Otherwise, you can continue using TRAC tool as normal, there are no configuration changes required to benefit from the new features.

Ref	Product	Change	Affected feature	Client Description	Issue key
1	Accuracy: EMIR	Fix: Validation	E177 – Non compressed trade (2.93) without valuation	We have updated the validation to not flag where valuation information was provided on the ‘New’ report (no separate ‘Valuation’ report is required).	DEV-1990
2	Accuracy: EMIR	Fix: Validation	E143 – Product identification (2.6) and Asset Class (2.2) mismatch: Credit	We have adjusted the validation logic to avoid false flagging where Underlying is populated in the incorrect field in FIRDS (single ISIN populated in field dedicated to baskets).	DEV-2010
3	Accuracy: EMIR	New MI	EMIR MI: Notional Tolerance	We are introducing a new MI Report presenting details of Notional levels for Spread-bets and CFDs.	DEV-1984
4	Accuracy: EMIR	New MI	EMIR MI: Notional Tolerance	We are introducing a new MI Details Report supplementing the MI: Notional Tolerance.	DEV-1982
5	Accuracy: EMIR	Portal Configuration	EMIR MI: Notional Tolerance	We have added a Portal setting to for users to decide whether they wish the MI Details Report: Notional Tolerance generated with their TRA reports.	DEV-1882
6	Accuracy: EMIR	Portal Configuration	Report Configuration	We have introduced a new configuration option for EMIR reports – clients who are Funds or Fund Managers can configure to include or exclude these reports from the TR Accuracy review. These configuration settings can be used in coordination with delegated reports settings.	DEV-1963
7	Accuracy: EMIR Reconciliation	Ingestion	Unavista Portal Format	We have introduced a new ingestion format – allowing users to process files downloaded from Unavista Portal (rather than only files received via SFTP).	DEV-1919
8	Accuracy: EMIR Reconciliation	New MI	Eligibility Report	We have added a new MI to EMIR Reconciliation reports. New MI presents the counterparties and interprets eligibility for reconciliation, allowing users to focus on resolving issues with lack of pairing with eligible cpunterparties.	DEV-1983
9	Accuracy: EMIR Reconciliation	Enhancement: MI	EMIR Reconciliation Summary Report	We have updated the ingestion logic to allow multiple files of the same type to be ingested in 1 run.	DEV-1986
10	Accuracy: MiFIR	New Validation	M188 (a-c) – Investment Firm covered by Directive 2014/65/EU (5) does not match regulator’s reference data	We have replaced M188 with 3 versions: M188 a, b and c flagging in different scenarios: pre-Brexit, post Brexit EU and GB.	DEV-1933
11	Accuracy: MiFIR	Reference data	Client Reference Data	Introduced a new Client Reference data allowing clients to verify if currency products are reported according to market convention.	DEV-1988
12	Accuracy: MiFIR	New Validation	M276 – Currencies (31, 34) not in line with market convention	We have introduced a new validation veryfing for FX Forwards if Price Currency and Quantity Currency have been populated in line with market convention.	DEV-1989
13	Accuracy: MiFIR	New Validation	M275 – Quantity Type for FX Forwards is not MONE	We have introduced a new validation veryfing for FX Forwards if Quantity type has been populated correctly.	DEV-2009
14	Accuracy: MiFIR	New Validation	M274 – Price Type for FX Forwards is not MONE	We have introduced a new validation veryfing for FX Forwards if Price type has been populated correctly.	DEV-2008
15	Accuracy: MiFIR	New Validation	M273 – Up-front Payment (38) is blank for option with volatile strike price	We have introduced a new validation – verifying population of Up-front Payment for transactions where Strike Price is considered to be a volatile attribute.	DEV-1916
16	Accuracy: MiFIR	New Validation	M272 – Incorrect Price (33) for option with volatile strike price	We have introduced a new validation – verifying population of Strike Price for transactions where it’s considered to be a volatile attribute.	DEV-1914
17	Accuracy: MiFIR Core	Fix: Validation	MC262 – Net amount missing (CON-351)	We have amended the way this validation uses FIRDS lookup to use the most recent db entry.	DEV-1996
18	Accuracy: General	Portal Configuration	Action Log Notifications	We have expanded Action Items change notifications configuration settings.	DEV-1993
19	Accuracy: General	Portal Configuration	Action Log	We have updated the ‘Regime’ field on Action Log to allow multiple choice values.	DEV-1582

 

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