We have the following features due for release on the 27th of March at 0700 UK local time.

KEY POINTS

• EMIR – 9 validation amendments, 1 MI amendment, 1 ingestion logic amendment
• MiFIR – 2 validation amendments, 1 validation deletion
• All Regimes – 3 Summary report amendments, 1 Statistics report amendment
• Portal – 1 fix for Market Reference Data section
• Action Log – 2 new functionalities

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	E76  – Variation margin posted (1.26) when transaction is a sell, E77 – Variation margin received (1.30) when transaction is a sell, E78 – Variation margin received (1.30) when transaction is a buy, E79 – Variation margin posted (1.26) when transaction is a buy	Validations were amended to flag only when collateral is reported on position level (not a portfolio level).	DEV-2096
2	Accuracy: EMIR	Fix: Validation	E57 – Collateral Portfolio code (1.23) duplicated in a day’s reporting data	We have amended the validation to avoid flagging false positive results when collateral update is provided on a collateral update report instead on valuation report (as seen on Regis-TR submission format).	DEV-2112
3	Accuracy: EMIR	Fix: Validation	E56 – Position Level (2.94) record Trade ID (2.12) has been duplicated across a single day	We have amended the validation to avoid flagging false positive results when valuation timestamp field is blank.	DEV-2114
4	Accuracy: EMIR	Fix: Validation	E54 – Variation margin (1.26/1.30) populated for a new position	We have amended validation to not flag when collateral is reported on portfolio level.	DEV-2081
5	Accuracy: EMIR	Fix: Validation	E182 – Inconsistent Collateral Portfolio margins (1.24-1.35)	We have amended the validation to avoid flagging false positive results when collateral update is provided on a collateral update report instead on valuation report (as seen on Regis-TR submission format).	DEV-2113
6	Accuracy: EMIR	Fix: Validation	E160 – Reporting Counterparty ID (1.2) is unknown	We have amended the validation to not create false flags for fund managers reporting on behalf of funds.	DEV-2154
7	Accuracy: EMIR	Enhancement: MI	EMIR MI: Notional Tolerance	We have added 2 new tables coresponding to pie charts on Notional Tolerance MI.	DEV-2107
8	Accuracy: EMIR	Ingestion	Regis-TR R010 and R001 format	We have amended ingestion for Valuation Timestamp and Reporting Timestamp fields.	DEV-2111
9	Accuracy: MiFIR	Fix: Validation	M276 – Currencies (31, 34) not in line with market convention	We have corrected an issue with validation checking base vs quote currencies for price and quantity currencies for FX Forwards.	DEV-2110
10	Accuracy: MiFIR	Fix: Validation	M16 – Trading date time (28) granularity for off exchange execution	We have amended the validation identification criteria for executions outside of trading venues.	DEV-2120
11	Accuracy: MiFIR	Delete: Validation	M248 – Price Multiplier (46) is not 1 for Swaps	We have deleted the validation based on the incorrect statement in the MIFID Guidelines (as confirmed by ESMA).	DEV-2160
12	Accuracy: ASIC, MiFIR, EMIR	Enhancement: MI	Summary report: Validations Summary	We have updated the ‘Validations Summary’ tab on the Summary report by adding fields representing the earliest and latest occurence of each flag.	DEV-1973
13	Accuracy: ASIC, MiFIR, EMIR	Enhancement: MI	Summary report: Validation Status	We have added the Threshold information to ‘Validation Status’ tab on the ‘Summary Report’.	DEV-1975
14	Accuracy: ASIC, MiFIR, EMIR	Enhancement: MI	Summary report: Distinct Errors Per TRN/UTI	We have enhanced the ‘Distinct Errors per TRN/UTI’ report in the ‘Summary report’ for all regimes, to include product related information.	DEV-1969
15	Accuracy: ASIC, MiFIR, EMIR	Enhancement: MI	TR Accuracy: Statistics Report	We have refreshed the visual side of the TR Accuracy Statistics .xsl report for more clarity.	DEV-2161
16	Accuracy: General	Portal Configuration	Action Log	We have added a functionality to Action Log to allow linking Action Items to each other.	DEV-1498
17	Accuracy: General	Portal Configuration	Action Log	We have added the ‘Archive’ section to ‘Action Log’ functionality – this allows clients to archive old Actions and remove them from the regularly reviewed lists.	DEV-1499
18	Accuracy: General	Portal Configuration	Market Reference Data	We have fixed an issue with the search functionality in the “Market Reference Data” section on TRAC Portal.	DEV-2124

 

Please let us know if you have any questions: 

 

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