Fidessa TR Completeness Solution

Control Now have today released their TR Completeness solution for Fidessa sell side front office systems.

Market Watch 62

The FCA have written to the market for an unprecedented 2nd time in a year regarding the requirement for reconciliations. They have highlighted the below common errors they have been seeing in TR data. The CN tools are being reviewed and if required updated to capture all these items.

MW62

Market Watch 61

Hard Brexit Update

TR Accuracy Update (v2.4)

All users to select between full record output of key fields only.

UPDATE TO Q&A ON DATA REPORTING

Update to Portuguese passport number format and Romanian National ID number

Update to Q&A on data reporting

Full example on how to report FX Forwards for MiFIR provided.

MiFIR Data Reporting Q&A Update: FX Forward Example (Q17)

ESMA have updated their documentation on how to report FX Forwards for MiFIR when trading on exchange.

FIRDS Update

FIRDS has been updated to allow for new CFI codes.

TR Accuracy Update (2.3)

11 new features, 3 feature updates and 9 new EMIR validations have been released to the TR Accuracy tool.

Market Watch 60

Following on from the conviction of a UBS trader for insider dealing the FCA have released comment in Market Watch 60  on what anti money laundering and insider dealing. They give a statement on the controls firms should have in place and their approach to regulating/monitoring it.

INSIDER DEALING FROM UBS M&A DEPARTMENT

2 people have been sentenced to 3 years in jail for trading CFDs in companies they knew were going to be acquired before it became public knowledge.

FIA PUSHES TO SCRAP EMIR TRANSACTION LEVEL REPORTS FOR ETDs

The FIA has suggested regulators should simplify reporting of derivatives under EMIR by only requiring position level records for ETDs.

TR Accuracy Update (2.2)

4 new features, 5 new MiFIR MI reports, 22 new MiFIR validations and some system updates

CONTROL NOW MAKES REPRESENTATION TO ESMA: MiFIR – ID FOR SWEDISH NATIONALS

We have identified a discrepancy between the format of a SE Personal Identify Number (NINO) expected by the ESMA for MiFIR data reporting, and the format expected by the Swedish Tax Authority. The ESMA statement expects a 12 digit number; “12 digits numerical in the format CCYYMMDDZZZQ” However, the data which is provided by Swedish nationals is only 10 digits long, as confirmed by the European commission statement on Swedish tax numbers. CN have requested comment on the correct interpretation of the requirements. ** If you have a query on the interpretation of reporting requirements, please contact us **