TR Accuracy Release: MIFIR Core validations – 31.05.2022
May 31, 2022
We have the following features due for release on the 31st of May at 1700 UK local time.
- MiFIR Core – Enabling 140 validations, new report and Portal settings for the new ‘Core validations’ module for TR Accuracy MiFIR
- EMIR – 2 new validations, 1 validation amendment, 1 MI amendment, 1 new MI details report and accompanying Portal settings
WHAT DO YOU NEED TO DO?
There is no action required.
|Ref||Product||Change||Affected feature||Client Description||Issue key|
|1||Accuracy: MiFIR||New Validation||140 validations – Validations replicating CON-xyz validations (CN codes beginning with ‘MC’)||We are enabling the TR Accuracy MiFIR Core Validations module. Core validations are replicating the ARM/NCA validations and can be run on transactions file both before and after submission to the endpoint. This is 140 new validations (corresponding to 91 MiFIR spec validations).||DEV-932|
|2||Accuracy: MiFIR||New Functionality||Portal – Configuration settings||We have added a new section on the Portal under TRA Configuration: Core validations. This allows clients to view and manage the checks of the validations applied by ARM/TR.||DEV-931|
|3||Accuracy: MiFIR||Delete Validation||38 validations – Validations replicating CON-xyz validations subject to change in ESMA MiFIR spec v 1.6 and 1.7||With the deployment of the MiFIR Core validations module, we are deleting the temporary validations (MT) added to TR Accuracy module in release from 3.12 to avoid duplication (all validations are included in the Core module)/ https://control-now.com/news/tr-accuracy-product-release-03-12-2021/||DEV-1408|
|4||Accuracy: EMIR||Enhancement: MI||EMIR MI – File Summary||We have added the information about the amount of filtered EMIR records to summary report. Details MI report, containing all filtered out records can be configured to be generated – see TRA Configuration -> EMIR -> MI Details Reports Settings.||TRD-751|
|5||Accuracy: EMIR||New MI||EMIR MI Details – Filtered||Report listing all records filtered out before processing. Contains duplicated Trade and Position IDs (modified, compressed etc – only the last version of Trade ID is validated.||TRD-752|
|6||Accuracy: EMIR||New Functionality||Portal – Configuration settings||We have added a new toggle setting on the Portal (Regime Configuration -> EMIR -> MI Details Reports settings -> Filtered records) for user to decide if the ‘Filtered’ report is generated.||TRD-753|
|7||Accuracy: EMIR||New Validation||E183 – Uncollateralised (1.21) with collateral portfolio (1.22) indication||We have introduced a new validation, verifying population of field ‘Collateral portfolio’ for uncollateralised trades and positions.||TRD-747|
|8||Accuracy: EMIR||Enhancement: Validation||E8 – NFC- (1.7) has reported valuation and collateral information||We are replacing one of the scenarios currently included in E8 with a separate new validation E183||TRD-746|
|9||Accuracy: EMIR||New Validation||E182 – Inconsistent Collateral Portfolio margins||New validation indicating inconsistencies with reporting collateral on Portfolio basis. Flags where the same portfolio code was reported with different margin values for one valuation date.||TRD-735|
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 –