TR ACCURACY PRODUCT RELEASE – 28.11.2022

November 21, 2022

We have the following features due for release on the 28th of November at 0700 UK local time.

KEY POINTS

  • MiFIR 1 new ingestion format added, 2 ingestion format amendments, 1 definition update;
  • MiFIR Core 2 validation amendments;
  • EMIR 1 validation amendment, 1 ingestion logic amendment;
  • EMIR Reconciliation 1 MI report amendment;
  • Portal 1 report setting enabled, Reference data search amended, Action Log – 1 functionality amendment;

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 beneft from the new features.

 

Ref Product Change Affected feature Client Description Issue key
1 Accuracy: MiFIR Core Fix: Validation MC148(a-f) Underlying instrument code is not present in the ref data We have updated MC148(a-f) to avoid double flagging with M106. Reports where ‘Underlyin Instrument Code’ is not available will only be flagged by M106 now. TRD-978
2 Accuracy: MiFIR Core Fix: Validation MC041 Buyer Date of birth is later than trading date (CON-110) Fixed an issue with MC041 false flagging when field contains repeatable values. TRD-987
3 Accuracy: EMIR Fix: Validation E177 Non compressed trade (2.93) without valuation We have added an exception to avoid flagging missing valuation reports, where contract was concluded and terminated on the same day. TRD-953
4 Accuracy: EMIR Reconciliation Enhancement: MI EMIR Matching Report – Matching Field Level Examples We have reformatted the way client comments are displayed on the EMIR Reconciliation report. TRD-955
5 Accuracy: MiFIR Ingestion TRAX ingestion format We have introduced a new ingestion format: TRAX Extract TRD-971
6 Accuracy: MiFIR Ingestion TRAX submission format We have updated the ingestion logic for MiFIR TRAX submission format to intepret underlying fields for Swaps. TRD-972
7 Accuracy: MiFIR Ingestion Cappitech format We have updated the ingestion logic for MiFIR Cappitech format to intepret underlying fields for Swaps. TRD-973
8 Accuracy: EMIR Ingestion DTCC harmonised We’ve updated the ingestion of field ‘Exchange rate basis’ for DTCC EMIR harmonised format. TRD-952
9 Accuracy: MiFIR Definitions Client We have updated the interpretation of ‘clients’, to no longer include entities present in ‘Clients’ reference data when they also act as Executing Entity. This only affects clients processing reports for multiple entities, where one entity may act as a client to another in certain circumstances. TRD-963
10 Accuracy Portal UI Market Reference Data We have fixed an issue with viewing Market Reference Data in the CN Portal. DEV-1827
11 Accuracy Portal UI Action Log We have further improved sorting on the Action Log table. DEV-1662
12 Accuracy: ASIC, MiFIR, EMIR Portal UI MI Details Report – Clean Reports We have enabled the user configuration setting to switch the ‘Clean CSV Report’ on or off by clients via ‘MiFIR MI Details Reports Settings’ menu. Report contains all transactions that have not been flagged (i.e. ‘clean’ records). TRD-979

 

Please let us know if you have any questions:

 

Control Now Ltd (2017), is a provider of Transaction Reporting software tools to empower market participants to perform oversight of their Regulatory Reporting Processes. Control Now Ltd accepts no liability for any loss or damage caused by use of or reliance on this information or any other information published by Control Now Ltd. Recipients of this information must perform their own due diligence to confirm the information is accurate and relevant for their business scenario. Control Now Ltd reserves its right to re-publish the information.