We have a product release due on the 07.05.2021 at 1700 UK local time.

KEY POINTS

• 1 Summary report enhancement for all regimes
• EMIR – 4 new validations, 8 validation amendments, 2 new MI reports;
• MiFIR – 3 new validations, 27 validation amendments, 1 new MI, 4 MI amendments, 3 deleted validations

WHAT DO YOU NEED TO DO?

There is no action required from the users.

Ref	Product	Change	Affected feature	Client Description	Issue key
1	Accuracy: EMIR, MiFIR	Summary report	Config settings	Enhancing Summary report by adding information on the config settings (CN config vs Client config)	TRD-285
2	Accuracy: EMIR	New Validation	E93a – ETD not with CCP – RM E93b – ETD not with CCP – Equivalent Market E93c – ETD not with CCP – MTF/OTF	We have split validation verifying correctness of reported CCP into 3 validations to account for executions on different types of venues	TRD-305
3	Accuracy: EMIR	New Validation	E180 – Intragroup (2.38) populated where not required	New EMIR Validation flagging if Intragroup is populated where traded on venue or 3rd country equivalent market.	TRD-268
4	Accuracy: EMIR	New MI	Delegated Trades – expected	New EMIR MI providing information on expected delegated reports and submitted delegated reports.	TRD-278
5	Accuracy: EMIR	New MI	Delegated Trades – submitted	New EMIR MI: providing a summary of all submitted delegated reports and counterparties.	TRD-275
6	Accuracy: EMIR	Enhancement: Validation	E91 – Client not populated as Beneficiary for Agency trade	Change in the logic that allows clients to not input any data regarding individual clients into client reference data (CRD_CL).	TRD-304
7	Accuracy: EMIR	Fix: Validation	E116 – FIRDs Mismatch: Venue of execution	Fixing a bug with recognising 3rd country venues	TRD-332
8	Accuracy: EMIR	Fix: Validation	E80a – New position with no valuation	Adjusting validation to account for RegisTR allowing to submit new position report and position valuation report on a single record.	TRD-311
9	Accuracy: EMIR	Fix: Validation	E167 – Collateral report without collateral data	Adjusting logic to use ‘collateral_portfolio_code’ instead of ‘collateral_portfolio’ field	TRD-310
10	Accuracy: EMIR	Fix: Validation	E161 – ISIN in Product Identification Code – country code incorrect E163 – ISIN in Underlying Identification – country code incorrect	Adding 2 codes (EU, XS) not present on ISO country codes list, but allowed to be used in ISIN codes.	TRD-307
11	Accuracy: EMIR	Fix: Validation	E164 – ISIN in Underlying Identification – check digit incorrect	Correcting validation rule to not flag when Underlying ID is blank.	TRD-303
12	Accuracy: EMIR	Fix: Validation	E179 – CCP ID not recognised	Modifying validation to avoid double flagging with E93	TRD-294
13	Accuracy: MiFIR	New Validation	M255 – Venue (36) must be XOFF for client side of grouped orders	New validation verifying population of field Venue for a grouped orders scenario	TRD-280
14	Accuracy: MiFIR	New Validation	M253 – Instrument classification (43) not matching for put option	A new validation which will identify a put option as identified in the instrument description field which doesn’t match the CFI code reported.	TRD-200
15	Accuracy: MiFIR	New Validation	M256 – Trading capacity (29): DEAL or MTCH and Discretionary mandate	New validation verifying if correct Trading Capacity was used for transaction reports executed with discretionary mandate	TRD-272
16	Accuracy: MiFIR	Enhancement: Validation	M35 – SS indicator required for executions with clients	Adjusting logic to consider ‘3rd country’ classification for post-Brexit status of UK	TRD-324
17	Accuracy: MiFIR	Enhancement: Validation	M1 – LEI of Investment Firm in Seller, but SS indicator not populated	Adjusting logic to consider ‘3rd country’ classification for post-Brexit status of UK	TRD-323
18	Accuracy: MiFIR	Enhancement: MI	Bonds Pricing MI	Updated MIFID MI for Bonds pricing to include calculation on correctness of ‘Net Amount’ field (previously validations M104 and M138)	TRD-225
19	Accuracy: MiFIR	Enhancement: MI	Summary Report	We are adding summary information regarding NCA approval status to the Summary report (previously present only in MI report)	TRD-296
20	Accuracy: MiFIR	Enhancement: MI	HFT MI	Amending timestamp granularity identification, taking into consideration mandatory microseconds padding.	TRD-282
21	Accuracy: MiFIR	Enhancement: MI	Underlying Index MI	Updating ‘Underlying Index’ MI to filter out credit and interest products which may have ‘Underlying Index Name’ field populated. MI is displaying only Index based products.	TRD-260
22	Accuracy: MiFIR	Enhancement: MI	Matched Capacity MI	We’ve added new features to Matched Capacity MI. Added new table: Reporting Firm Aggregated Position	TRD-105
23	Accuracy: MiFIR	Fix: Validation	M83a – TRs suggest product admitted to trading, but ISIN admitted to trading after transaction date (same day)	Fixed bug in the logic causing false positive results.	TRD-319
24	Accuracy: MiFIR	Fix: Validation	M234 – Country of the branch for the buyer (8) is invalid M235 – Country of the branch for the seller (17) is invalid	Fixing an issue with flagging where buyer/seller was an account with joint owners	TRD-318
25	Accuracy: MiFIR	Fix: Validation	M249 – Price for Equity Swaps not expressed in percentage or basis points	Fixing issue with interpretation of price expressed as percentage.	TRD-312
26	Accuracy: MiFIR	Fix: Validation	M164 – Invalid Underlying ISIN – country code	Updating validation to avoid triggering for valid ISINs begining with ‘EU’	TRD-306
27	Accuracy: MiFIR	Fix: Validation	M85, M86, M194, M196, M167, M35, M203, M208, M38, M41, M44, M45, M160, M220, M221, M222, M223, M224	Amending 18 validations to make sure they trigger only if a counterparty is not considered both: client and market side depending on the trading scenario. Validations are only to be triggered where counterparty is considered only in one role.	TRD-302
28	Accuracy: MiFIR	Fix: Validation	M137 – Option Underlying Index Price	Amending validation to not flag for swaptions.	TRD-287
29	Accuracy: MiFIR	Fix: Validation	M35 –  SS indicator required for executions with clients	Restricting validation to not flag where transfer is identified. Adjusted Instrument types this validation is applicable to.	TRD-281
30	Accuracy: MiFIR	Fix: Validation	M1 – LEI of Investment Firm in Seller, but SS indicator not populated	Adjusting ‘Short Selling Indicator’ validation to exclude 3rd country government bonds	TRD-233
31	Accuracy: MiFIR	Delete: Validation	M251 – Expiry Date (55): should be populated for OTC swaps	Validation to be replaced by MI	TRD-314
32	Accuracy: MiFIR	Delete: Validation	M104 – Net Amount for Bonds (Clean Price) – Above Threshold M138 – Net Amount for Bonds (Clean Price) – Below Threshold	2 MiFID validations related to ‘Net Amount for bonds’ are to be deleted and replaced by MI.	TRD-224

 

Please let us know if you have any questions: client.support@control-now.com.