transaction reporting service: emir · trs service manual 4th february 2014 10 in case the client...

Transaction Reporting Service: EMIR

Service Manual

July 2014

Version 1.3

Contents

1.0 Revision History 4

2.0 Introduction 5

2.1 Scope 5 2.2 References 6

3.0 Trade Reporting in EMIR directive and

European legislation 7

4.0 Service Description 8

4.1 Functional specifications 12 4.1.1 Reporting Procedure 14 4.1.2 Fields format 16 4.1.3 Directory structure of sFTP account 17 4.2 Validation data process 17 4.3 Appendix 1 – Client reference data 21 4.4 Appendix 2 – UTI for ETD IDEM 22 4.5 Appendix 3 – Error codes 24

Index

TRS Service Manual 4th February 2014

4

1.0 Revision History

Date Version Description Author

8 Jan 2014 1.0 Transaction Reporting Service to EMIR, English Version first draft

Borsa Italiana

21 Jan 2014 1.1 Changes to the first version:

Error codes of the TRS EMIR

Service added

Directory structure of sFTP

account added

Clarification on UTI for ETD IDEM

reporting

Clarification on automatically

generated reports for ETD IDEM

Borsa Italiana

4 Feb 2014 1.2 Changes to the version 1.1:

ETD IDEM automatic generation

not applied for positions

PUTI specifications removed from

Appendix 2

Unavista field list reference file

updated

Error codes table modified (new

fields and values)

Borsa Italiana

11 Jul 2014 1.3 Updates for EMIR phase 2 (reporting obligations for collateral and mark to

market)

Borsa Italiana


5

2.0 Introduction

Following the introduction of a new regulation, EMIR1 which will enter into force on 12th February

2014 (UE No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC

derivatives, central counterparties and trade repositories) all financial transactions executed on OTC

and ETD (Exchange Trade Derivatives) contracts must be reported to ESMA2 certified Trade

Repositories.

The Regulation introduces provisions to improve transparency and reduce the risk on the derivatives

markets.

The service described in this document is offered by Borsa Italiana to its clients in order to facilitate

mandatory transactions and reporting duties, introduced by the EMIR regulation.

Information contained in the present document might be changed according to competent authorities

final approvals.

2.1 Scope

This document describes the functional and technical features of the service.

1 European Market Infrastructures Regulation – Regulation (EU) 648/2012 of the European Parliament and Council on OTC derivatives,

central counterparties and trade repositories – also referred to as “the Regulation” 2ESMA is a European Union independent financial regulatory institution, that works in the field of securities legislation and regulation

to improve the functioning of financial markets in Europe, strengthening investor protection and cooperation between national competent authorities


6

2.2 References

- Questions and Answers - Implementation of the Regulation (EU) No 648/2012 on OTC derivatives,

central counterparties and trade repositories (EMIR) – ESMA document

- UnaVista EMIR Reporting Field Specification v1.7.xlsx

- Transaction Reporting Service_EMIR - technical specifications – Borsa Italiana document


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3.0 Trade Reporting in EMIR directive and European legislation

EMIR European Union regulation completes the already in force MIFID directive, which specifies new

obligations for ETD and OTC derivatives.

EMIR rules outline regulatory framework for derivatives ETD and OTC contracts addressed to all

involved stakeholders, central counterparties, financial counterparties and clearing members.

Furthermore, EMIR establishes Trade Repositories, a system designated to collect and store all

derivatives ETD and OTC contracts life cycle data.

Borsa Italiana service will use UnaVista EMIR Trade Repository to collect, validate and reconcile all the

operations regarding ETD and OTC on all the asset classes.

Borsa Italiana TRS EMIR service allows to send ETD and OTC transactions to the trade repository,

errors management, thanks to automatically syntactic checks, and the dispatch of the data compliant

with legislation to UnaVista.


8

4.0 Service Description

The TRS EMIR service is placed between client and Trade Repository and according to ESMA

definitions it will be acting as a Third Party. The client maintains data ownership and reporting

responsibility.

Transaction reporting must take place via file upload, this file must use one of the formats listed below

and the layout defined by UNAVISTA described in “UnaVista EMIR Reporting Field Specification

v1.7.xlsx” contained in the package available at

http://www2.londonstockexchangegroup.com/unavista-emir-documentation-pack.

The service will allow clients to perform the following actions:

- Manual transaction entry via GUI

- Bulk Transactions upload from file via GUI

- Exceptions management and upload of corrected transactions

- File upload via SFTP

- Consultation of transaction reports for 5 days after submission

- Historical data consultation

- Data export on .csv file

Supported formats are:

- csv

- ascii

- xml

The transaction must be sent by the end of the next trading day following the trade (that is by T+1

23:59:59 )

Trades reporting syntactic validity is checked before being transmitted to Unavista central Trade

Repository.


9

Unavista will then validate and perform a reconciliation process by T+2. For each phase, Trade

Repository will send response files to TRS EMIR.

These files will be available to clients for consultation, error management and reporting. (see 4.2)

Clients are also required to report the lifecycle records until the expiration of the financial instruments

or until the position is closed.

TRS EMIR also offers a data enrichment service, starting from the reference data provided by the user

during the service subscription (described in Appendix 1).

In addition, for ETD derivatives contracts on instruments cleared by CCG, the data will be used by

Transaction Reporting to retrieve from the Borsa Italiana database all the information regarding

contracts lifecycle stages in order to fill out the files correctly to be sent to Unavista hence reducing

the manual data entry needed by clients.

All validations, exception management and reporting resubmission will be managed by Transaction

Reporting.

For ETD transactions, cleared by CC&G, automatic generation will be configurable, clients will be able

to specify if they want to use this service or if they prefer to personally send ETD transactions on

CC&G guaranteed markets.

Regardless of this choice, transactions sent by clients, once syntactic checks are passed, will be sent to

UnaVista Trade Repository in any case.

In the following diagram, based on ESMA guidelines, pag. 59 of “Questions and Answers -

Implementation of the Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and

trade repositories (EMIR)” document, automatically generated transactions for ETD cleared by CCG (in

case the Client opt for this configuration) are depicted:


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In case the Client of the TRS EMIR Service is a General Clearing Member and the transaction has been

executed by one of its Non Clearing Members (Investment firm), reports “1” and “4” will be

automatically generated and the Client of the Service is stated as the reporting counterparty. It will also

be possible to configure the Service in order to limit the automatic generation to report “1” only (GCM vs

CCP) in case the General Clearing Member opts for this choice when subscribing to the Service.

If the Client of the Service is a direct member of CCG and is itself the investment firm of this transaction,

the schematic above is simplified and report “1” only is generated.

In case the Client of the Service is a Non Clearing Member who acts as the Investment Firm of this

transaction, report “3” will be automatically generated.


11

The automatic generation of reports will be applicable for trades, positions (as of 12th of August 2014

when reporting obligations for collateral and mark to market come into force) and lifecycles.

For those customers who have opted for automatic generation of transactions, the following procedures

will be applied by the TRS EMIR service:

- two different types of Positions records (both identified with Message Type – CD60 = “P”) will be

sent to Unavista: “aggregated” Positions and “per instrument” Positions;

- aggregated Positions represent the overall Position per each portfolio managed by the CCP and

contain the collateral value posted by the GCM/ICM to the CCP. According to CCP guidelines, the

positions are grouped by account following the account structure under EMIR:

o House Account;

o Main Omnibus Client Account;

o Additional Omnibus Account (AOA);

o Individual Segregated Account (ISA);

- per instrument Positions where the mark to market calculated by the CCP is populated at financial

instrument level but the collateral value is left to zero (because GCMs/ICMs do not post collateral

on an instrument basis).

The PUTI (Position UTI, Unavista field CD8A) will be populated with the portfolio ID (generated by the

CCP) for aggregated Positions and with the CCG Position code (see Appendix 2) for per instrument

Positions.

Regarding OTC and ETD derivatives contracts which are not cleared by CC&G, reporting enrichment

concerns only static reference data provided by client when the contract is concluded (see form in

Appendix 1).


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This service also offers the opportunity to clients to delegate the Common Data (data regarding the

reported transaction) reporting to the counterparty of the trade, starting from univocal ID (called UTI3)

and transaction reference Data.

4.1 Functional specifications

Borsa Italiana Transaction Reporting receives trades executed by members who have subscribed to the

service, trades sent both individually and automatically are aggregated and consistency and

completeness checks are performed before dispatching the files to UnaVista.

All the operations reported during the whole trading day are accepted by the service and will be

checked as described in 4.3, stored in the Database and then sent to UnaVista.

All transactions accepted by TRS EMIR are sent UnaVista real time for any member.

In the event of a file failing the checks, errors are notified to the clients with the wrong record sent

through the agreed procedure (file, error message on the GUI , etc).

One or more files will be sent to UnaVista via sFTP for each members, the results will be managed by

the service and notified to the connected TRS EMIR clients or to the interconnected active channels.

As described in the legislation; contracts, positions and lifecycle must be reported by the end of the

next working day after the contract day, that is by 23:59:59 (T+1). See fig.1.

Nevertheless, Transaction Reporting EMIR service will accept contract reporting for any day (T+n).

Fig. 1 – Information transmission schedule

3 Unique Trade Identifier


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4.1.1 Reporting Procedure

Each user can insert their own reports during the trading day in one of the following ways:

GUI, accessible via web server or via local client. Loading a file or manually inserting in a

dedicated window

File upload via sFTP

Loading via GUI

a. Single contract manual upload. Some fields in the input window will be filled with the reference

data provided (see Appendix 1).

b. File upload. Each file can contain transactions from different days.

Transaction reported both manually and via file upload, will be real time displayed on the client

transaction window.


15

SFTP file upload

Each trading day TRS EMIR service will be able to manage multiple files submission.

File name must contain the company ID called LEI (Legal Entity Identifier), file upload date and a

progressive identification number

<ReportingFirm>_<ReportingDate>_<Prog>.<Ext>

<ReportingFirm>: reporting firm LEI code

<ReportingDate>: file submission date. Date must be in YYYYMMDD format

<Prog>: 3 digits progressive id starting from 001. Files whose id is less than or equal to the

last received file will be ignored.

Secure file transfer is available 24 hours 7 days a week.

Reports sent Monday to Friday will be managed and sent to UnaVista real time, whilst ones sent

Saturday and Sunday will be accepted and dispatched to UnaVista the next Monday.

Clients will be requested to login with UserId and password provided during service subscription or via

SSH using RSA public key exchange

All uploaded files will be shown real time in client “Files” window and identified as “FileSFTP” under the

“Source” column.


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4.1.2 Fields format

This section describes the file format requested by UnaVista.

A complete list of Fields format is available at the following link:

http://www2.londonstockexchangegroup.com/unavista-emir-documentation-pack (file “UnaVista EMIR

Reporting Field Specification v1.7.xlsx”)

Character

File must contain only 8-bit ASCII (ISO 8859-1) characters.

Alphanumeric field

Alphanumeric fields marked as ‘Alpha’ can contain only alphanumerical characters

Numerical data

Numerical data are indicated as ‘Decimal’. Field length also includes decimal digits. For example, length

30 (25,5) is 25 integer and 5 decimals. Delimiter is full stop (.).

Date and Time

All the data inserted in the file must have YYYYMMDD format.

Time will have HH:MM:SS (24-hour-clock) format and time zone UTC.

Files must have an header with the field name as specified by UnaVista:

http://www2.londonstockexchangegroup.com/unavista-emir-documentation-pack (file “UnaVista EMIR

Reporting Field Specification v1.7.xlsx”)

Please note that a sample file is available on the Borsa Italiana website.

http://www2.londonstockexchangegroup.com/unavista-emir-documentation-pack

http://www2.londonstockexchangegroup.com/unavista-emir-documentation-pack


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4.1.3 Directory structure of sFTP account

The sFTP account of each Client is organized with the following directories under the home dir:

- Incoming (directory where the TRS EMIR service saves the response files and a copy of the automatically generated files for ETD IDEM)

- Outgoing (directory where the Client application uploads the transaction files)

From the file transfer protocol standpoint, the Client application will execute a sFTP put into the

Outgoing directory whenever it needs to send its own transaction files to the TRS EMIR Service, whilst

the Client application will perform a sFTP get from the Incoming directory to download the response

files provided by the service following the different validation data processes described in the next

paragraph.

4.2 Validation data process

This chapter describes how the validation process works, from Transaction Reporting EMIR service pre

acceptance ( fields format and length, headers etc) to the validation and reconciliation by UnaVista

Checks performed by Transaction Reporting service are:

1. Instrument identification code check. Users can specify both the ISIN and the native market

alphanumerical symbol. If this field is left empty or invalid data has been submitted, the

system will display an error message and the report will be not dispatched to UnaVista

2. Syntactic and file length check as established by UnaVista.

Following response .txt files will be returned to user containing reports outcomes:


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Initial validation file, will contain possible format inconsistency, fields correctness and file

format. This check is performed real time by Transaction Reporting EMIR service before files

are sent to UnaVista EMIR TR and will be identified by suffix TRSRes:

Ex: <original file name>_TRSRes.txt

Reponse file from UnaVista EMIR TR File further to delivery and first check. This file will be

sent to clients in 20 minutes after it has been forwarded by TRS EMIR and is identified by

suffix ‘_UVRes’;

Ex: <original file name>_UVRes.txt

Response file from Trade Repository following transaction recording. This file will be returned

within 2 hours from the report being sent and will be identified by suffix ‘_UVTR’.

Ex: <original file name>_UVTR.txt

All response files will contain the information below:

- File handling timestamp (UnaVista will use UK Time)

- Number of transactions sent

- Number of invalid transactions

- Position in the file of the transaction that has generated the error

- Name of the field that has generated the error

- Error code. The list of the error codes is detailed in Annex 3.

- Error code description

- Field Value that has generated the error


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- Reporting Firm Id

- Transaction Id (UTI)

- Position UTI (PUTI)

- Report Message Type (Trade, Position or Life Cycle)

The values returned in the response files will be consistent with the ones sent in the initial report. Ex:

in case the user doesn’t fill a field, this will be returned empty.

Intraday dispatching outcomes and pending status will be displayed in “Files and Transactions”

window.

Further validation files will be sent back following the data matching process operated by the Trade

Repository within 2 days of the report being sent (T+2).

<original file name>_Differences_yyyyMMdd.txt

<original file name>_Resolved_yyyyMMdd.txt

<original file name>_Summary by Lastupdated_yyyyMMdd.txt

<original file name>_Summary by Trade Date_yyyyMMdd.txt

<original file name>_Unmatched_yyyyMMdd.txt


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TRS Server UnaVista TR

1) reporting submission

2) data validation

Result acknowledgment

and errors management

5) UV and TRS data validation

4) report dispatch to UnaVista

6) Report sending validation/ exceptions

3) first reporting result

8) reports reconciliation

7) reports forward to

EMIR

9) reconciliation outcome reports

send

10) reconciliation result consultation and possible errors

management

TRS Client

T/T+1 T/T+1 T/T+1

T+2 T+2 T+2


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4.3 Appendix 1 – Client reference data

TRS EMIR, in order to facilitate clients reporting activity on OTC and ETD not cleared by CC&G and

decrease the amount of data requested for each operation, provides a data enrichment service using

the Reference Data given by the member at service establishment. Data will be provided by filling out

a dedicated form:

ABI Code: mandatory for ETD IDEM reporting only and if the Client chooses for the automatic

generation of cleared by CC&G transactions. It is however recommended the Client always

specifies its own ABI code upon subscription of the TRS EMIR Service.

Reporting Counterparty ID [CP2]: LEI code. Company Univocal Id

Reporting Firm Corporate Name [CP4] – company name

Reporting Firm Registered Office [CP5] – company registered address

Reporting Firm Country Code of Branch [CP5A]: Company Country ISO code

Reporting Firm Corporate Sector [CP6]: company business sector (ex. Bank, Insurance ,

investment bank, lending institution, etc)

Reporting Firm Financial Status [CP7]: specifies if reporting counterparty is financial, not

financial or other (ex. Clearing house)

Moreover, clients who subscribe the service and report ETD contracts on instruments cleared by CC&G will

be asked to provide the same data listed above. They will also be requested to specify if they prefer to

report directly or use the transaction automatic generator feature.


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4.4 Appendix 2 – UTI for ETD IDEM

This paragraph describes in which way the Clearing system generates UTI codes in order to identify

uniquely trades (for ETD reporting only).

Further details are available in the “Trade Repository Reporting” document published on Cassa di

Compensazione e Garanzia website (www.ccg.it) under “EMIR>Trade Repository” area.

UTI for ETD trades

Field Name Length Description API field

MIC-Code 10 Fixed value

‘000CGIT000’

Participant Code 5 NotifyContract/Abicode

Trade Date 8 Format YYYYMMDD NotifyContract/ContractDate

Product ID 12 Isin Code NotifyContract/ISINCode

Trade Number 12 NotifyContract/ContractNumber (*)

Trade Indicator 1 B=Buy S=Sell (from the

Participant perspective)

NotifyContract/Side

Chain Indicator 1 C=Between CM and CCP

T=Between Trading Member

and Clearing Member

(*) through BCS it is possible to get the trade number (see table above) for each ETD trade (contract

number). Using BCS, it is also possible to fetch the corresponding trade number assigned by the trading

platform (SOLA).

In case the Client opts for the automatic generation of cleared by CC&G ETD transactions, the TRS EMIR

service will use:

- The CCP UTI when reporting the transaction in which the reporting firm is populated with the

Clearing member and the other counterparty is populated with the CCP


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- The CCP UTI modified replacing the chain indicator T with C (UTI last char) when reporting

the transaction in which the reporting firm is populated with the Clearing member and the

other counterparty is populated with the Trading Member4 and viceversa

UTI for per instrument positions related to ETD trades

Field Name Length Description API field

MIC-Code 10 Fixed value

‘000CGIT000’

Position indicator 1 It will be left blank

Participant Code 5 NotifyPositions/Abicode

Account 1 NotifyPositions /Accounttype

SubAccount 4 NotifyPositions /SubAccount

Product ID 12 Isin Code NotifyPositions /ISINCode

In case the Client opts for the automatic generation of cleared by CC&G ETD postions, the TRS EMIR

service will use:

- The CCP UTI for positions when reporting the transaction in which the reporting firm is

populated with the Clearing member and the other counterparty is populated with the CCP

- The CCP UTI for positions modified adding at the end “T” when reporting the transaction in

which the reporting firm is populated with the Clearing member and the other counterparty is

populated with the Trading Member and viceversa.

4 In this context, Trading member means Investment Firm / Broker in the terminology used in ESMA documents.


24

4.5 Appendix 3 – Error codes

The following table details the list of the possible error codes returned in the different response files of

the TRS EMIR Service.

Field Code

Field Validation Check Error Code

Action Type Field Dependency

Message Type Field Dependency

Validation Field Dependencies

- -

"Transaction successfully processed" (*_TRSRes.txt feedback files) "Transaction accepted by trade repository" (*_UVTR.txt feedback files) 0 - - -

(Data Type) Invalid date 1

(Data Type) Invalid integer 2

(Data Type) Invalid amount 3

(Data Type) Invalid decimal 4

(Data Type) Data length too long 5

(Data Type) Invalid String (non unicode) 6

(General)

Field must be blank because Common Data Delegated = Y 1204

CP17 CP23

(General)

Either Mark to Market Value or Collateral Value must be populated if Action Type = V 1213 V T or P

(General) Original not found 2000

(General) Duplicate of a UTI already recorded 2001

(General)

This is a cancel or modification of a report which is already cancelled 2002


25

Field Code





(General)

Update of UTI failed because previous UTI not found 2003

(General) Common data field does not agree 3000

(General) Report is later than T+1 3001

CP16

Above Clearing Threshold

Above Clearing Threshold must be populated because Financial Status in (N, X) 1074

Not E or V T

[Action Type], [Message Type], [Reporting Firm Financial Status]

CP16


Above Clearing Threshold must be blank because Financial Status = F 1075

Not E or V T


CP16


Above Clearing Threshold must be one of Y, N, X if populated 1076

Not E or V T

[Action Type], [Message Type]

CD58 Action Type Action Type must be populated 1027

CD58 Action Type

Action Type must be one of N, M, E, C, Z, V, O, D 1149

[Common Data Delegated Flag]

CD58 Action Type

Action Type must be one of N, M, O, V, E, C, Z, D if Message Type = T 1207 T

[Message Type]

CD58 Action Type

Action Type must be one of N, M, O, V, E if Message Type = P 1208 P

[Message Type]

CD58 Action Type

Action Type must be O if Message Type = L 1209 L

[Message Type]

CD59

Action Type Details

Action Type Details must be populated because Action Type = O 1150 O

[Action Type], [Common Data Delegated Flag]

CP11 Benefici Beneficiary ID must be populated if 1062 Not E or T [Action Type],


26

Field Code





ary ID Beneficiary ID Type is populated V [Beneficiary ID Type], [Message Type]

CP11 Beneficiary ID

Beneficiary ID must be valid LEI because Beneficiary ID Type specifies LEI 1064

Not E or V T

[Action Type], [Beneficiary ID Type], [Message Type]

CP11 Beneficiary ID

Beneficiary ID must be valid BIC because Beneficiary ID Type specifies BIC 1066

Not E or V T

[Action Type], [Beneficiary ID Type], [Message Type]

CP11A

Beneficiary ID Type

Beneficiary ID Type must be populated if Beneficiary ID is populated 1063

Not E or V T

[Action Type], [Beneficiary ID], [Message Type]

CP11A

Beneficiary ID Type

Beneficiary ID Type must be one of L, B, I if populated 1067

Not E or V T


CP08 Broker ID

Broker ID must be valid LEI because Broker ID Type specifies LEI 1043

Not E or V T

[Action Type], [Broker ID Type], [Message Type]

CP08 Broker ID

Broker ID must be valid BIC because Broker ID Type specifies BIC 1045

Not E or V T


CP08 Broker ID

Broker ID must be populated if Broker ID Type is populated 1165

Not E or V T


CP08A

Broker ID Type

Broker ID Type must be one of L, B, I if populated 1049

Not E or V T



27

Field Code





CP08A

Broker ID Type

Broker ID Type must be populated if Broker ID is populated 1164

Not E or V T

[Action Type], [Broker ID], [Message Type]

CP13

Buy / Sell Indicator

Buy / Sell Indicator must be populated 1007

Not E or V T


CP13

Buy / Sell Indicator

Buy / Sell Indicator must be one of B, S 1069

Not E or V T


CD31 CCP ID CCP ID must be valid LEI because CCP ID Type specifies LEI 1129

Not E or V T

[Action Type], [CCP ID type], [Common Data Delegated Flag], [Message Type]

CD31 CCP ID CCP ID must be valid BIC because CCP ID Type specifies BIC 1131

Not E or V T


CD31 CCP ID CCP ID must be populated if CCP ID Type is populated 1174

Not E or V T


CD31A

CCP ID type

CCP ID Type must be one of L, B if populated 1136

Not E or V T

[Action Type], [Common Data Delegated Flag], [Message Type]

CD31A

CCP ID type

CCP ID Type must be populated if CCP ID is populated 1175

Not E or V T

[Action Type], [CCP ID],


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Field Code





[Common Data Delegated Flag], [Message Type]

CD29 Cleared Cleared must be one of Y, N if populated 1125

Not E or V T or P


CD29 Cleared Cleared must be Y if Clearing Timestamp is populated 1173

Not E or V T

[Action Type], [Clearing Timestamp], [Common Data Delegated Flag], [Message Type]

CP10

Clearing Member ID

Clearing Member ID must be populated if Clearing Member ID Type is populated 1056

Not E or V T

[Action Type], [Clearing Member ID Type], [Message Type]

CP10

Clearing Member ID

Clearing Member ID must be valid LEI because Clearing Member ID Type specifies LEI 1058

Not E or V T


CP10

Clearing Member ID

Clearing Member ID must be valid BIC because Clearing Member ID Type specifies BIC 1060

Not E or V T


CP10A

Clearing Member

Clearing Member ID Type must be populated if Clearing Member ID is 1057

Not E or V T

[Action Type], [Clearing


29

Field Code





ID Type populated Member ID], [Message Type]

CP10A

Clearing Member ID Type

Clearing Member ID Type must be one of L, B, I if populated 1061

Not E or V T


CD28

Clearing Obligation

Clearing Obligation must be one of Y, N 1124

Not E or V T


CD30

Clearing Timestamp

Clearing Timestamp must be populated because Cleared = Y 1126

Not E or V T

[Action Type], [Cleared], [Common Data Delegated Flag], [Message Type]

CD30

Clearing Timestamp

Clearing Timestamp must be blank because Cleared = N 1135

Not E or V T

[Action Type], [Cleared], [Common Data Delegated Flag], [Message Type]

CP23

Collateral Portfolio

Collateral Portfolio must be one of Y, N if populated 1087 Not E T or P


CP23


Collateral Portfolio must be populated because Collateral Type != U 1151 Not E T or Pa

[Action Type], [Collateral Type], [Config TRCode], [Message Type]

CP23


Collateral Portfolio must be populated if Collateral Value is populated 1221 T or P

[Action Type], [Collateral Value], [Message


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Field Code





Type]

CP24

Collateral Portfolio Code

Collateral Portfolio Code must be populated if Collateral Portfolio = Y 1217 Not E T or P

[Action Type], [Collateral Portfolio], [Message Type]

CP24

Collateral Portfolio Code

Collateral Portfolio Code must be blank if Collateral Portfolio = N 1218 Not E T or P

[Action Type], [Collateral Portfolio], [Config TRCode], [Message Type]

CP22 Collateral Type

Collateral Type must be one of U, PC, OC, FC 1085 Not E T or P



Collateral Type cannot be U if Collateral Portfolio is populated 1216 Not E T or P

[Action Type], [Collateral Portfolio], [Message Type]


Collateral Type must be populated if Collateral Value is populated 1220 T or P

[Action Type], [Collateral Value], [Message Type]

CP25 Collateral Value

Collateral Value must be 0 or greater if populated 1166 Not E T or P



Collateral Value must be populated if Collateral Value Currency is populated 1219 Not E T or P

[Action Type], [Collateral Value Currency], [Message Type]


Collateral Value must be populated if Action Type = 'V' and Collateral Type is populated 1222 V T or P

[Action Type], [Collateral Type], [Message


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Field Code





Type]

CP26

Collateral Value Currency

Collateral Value Currency must be populated if Collateral Value is populated with a value greater than 0 1091 Not E T or P

[Action Type], [Collateral Value], [Message Type]

CP26

Collateral Value Currency

Collateral Value Currency must be an ISO 4217 currency code if populated 1092 Not E T or P


CP15

Commercial / Treasury Activity

Commercial / Treasury Activity must be populated because Financial Status in (N, X) 1071

Not E or V T


CP15


Commercial / Treasury Activity must be blank because Financial Status = F 1072

Not E or V T


CP15


Commercial / Treasury Activity must be one of Y, N if populated 1073

Not E or V T


CD45

Commodity Base

Commodity Base must be one of AG, EN, FR, ME, IN, EV, EX if populated 1139

Not E or V T or P


CD46

Commodity Details

Commodity Details must be one of GO, DA, LI, FO, SO, OI, NG, CO, EL, IE, PR, NP, WE, EM if populated 1176

Not E or V T or P


CP00 Commo Common Data Delegated must be 1203 T or P [Message


32

Field Code





A n Data Delegated

Y, N or blank Type]

CD11

Compression Exercise

Compression Exercise must be one of Y, N if populated 1108

Not E or V T


CD26

Confirmation Timestamp

Confirmation Timestamp must be populated because Confirmation Type in Y, E 1121

Not E or V T

[Action Type], [Common Data Delegated Flag], [Confirmation Type], [Message Type]

CD26

Confirmation Timestamp

Confirmation Timestamp must be blank because Confirmation Type = N 1122

Not E or V T

[Action Type], [Common Data Delegated Flag], [Confirmation Type], [Message Type]

CD27

Confirmation Type

Confirmation Type must be in Y, N, E if populated 1123

Not E or V T


CD27

Confirmation Type

Confirmation Type must be Y or E if Confirmation Timestamp is populated 1172

Not E or V T

[Action Type], [Common Data Delegated Flag], [Confirmation Timestamp], [Message Type]


33

Field Code





CP14

Counterparty EEA Status

Counterparty EEA Status must be populated 1008

Not E or V T or P


CP14

Counterparty EEA Status

Counterparty EEA Status must be one of Y, N 1070

Not E or V T or P


CD41 Currency 2

Currency 2 must be an ISO 4217 currency code if populated 1138

Not E or V T or P


CD07

Deliverable Currency

Deliverable Currency must be a valid ISO 4217 currency code if populated 1159

Not E or V T or P


CD18 Delivery Type

Delivery Type must be one of C, P, O 1110

Not E or V T or P


CD02A

ETD Asset Class Type

ETD Asset Class ID must be one of CO, CR, CU, EQ, IR, OT, BN if populated 1170

Not E or V T or P


CD19

Execution Timestamp

Execution Timestamp must be populated 1022

Not E or V

T or P or L or L


CP27 Fund Fund Manager ID must be valid BIC 1153 Not E or T or P [Action Type],


34

Field Code





Manager ID

because Fund Manager ID Type specifies BIC

V [Fund Manager ID Type], [Message Type]

CP27

Fund Manager ID

Fund Manager ID must be valid LEI because Fund Manager ID Type specifies LEI 1167

Not E or V T or P

[Action Type], [Fund Manager ID Type], [Message Type]

CP27

Fund Manager ID

Fund Manager ID must be populated if Fund Manager ID Type is populated 1168

Not E or V T or P

[Action Type], [Fund Manager ID Type], [Message Type]

CP27A

Fund Manager ID Type

Fund Manager ID Type must be one of L, B, I if populated 1154

Not E or V T or P


CP27A

Fund Manager ID Type

Fund Manager ID Type must be populated if Fund Manager ID is populated 1169

Not E or V T or P

[Action Type], [Fund Manager ID], [Message Type]

CD03

Instrument Classification

Instrument Classification must be populated because Instrument ID Taxonomy is not U or S 1011

Not E or V T or P

[Action Type], [Common Data Delegated Flag], [Instrument ID Taxonomy], [Message Type]

CD03

Instrument Classification

Instrument Classification must be valid CFI because Instrument ID Taxonomy specifies ISIN or Aii 1099

Not E or V T or P


CD03 Instrument

Instrument Classification must be one of CD,FR,FU,FW,OP,SW,OT 1100

Not E or V T or P

[Action Type], [Common Data


35

Field Code





Classification

because Instrument ID Taxonomy = E

Delegated Flag], [Instrument ID Taxonomy], [Message Type]

CD02 Instrument ID Instrument ID must be populated 1010

Not E or V T or P


CD02 Instrument ID

Instrument ID must be valid format ISIN because Instrument ID Taxonomy specifies ISIN 1095

Not E or V T or P


CD02 Instrument ID

Instrument ID must be one of CO, CR, CU, EQ, IR, OT, BN because Instrument ID Taxonomy is E 1097

Not E or V T or P


CD01

Instrument ID Taxonomy

Instrument ID Taxonomy must be populated 1009

Not E or V T or P


CD01

Instrument ID Taxonomy

Instrument ID Taxonomy must be one of U, I, A, E, S, as permitted by the jurisdiction and repository 1093

Not E or V T or P

[Action Type], [Common Data Delegated Flag], [Config TRCode],


36

Field Code





[Message Type]

CD32 Intragroup Intragroup must be populated 1026

Not E or V T


CD32 Intragroup Intragroup must be one of Y, N 1137

Not E or V T


CD49 Load Type

Load Type must be one of BL, PL, OP, BH, OT if populated 1145

Not E or V T or P


CP18

Mark to Market Currency

Mark to Market Currency must be populated if Mark to Market Value populated 1078 Not E T or P

[Action Type], [Mark to Market Value], [Message Type]

CP18


Mark to Market Currency must be an ISO 4217 currency code if populated 1079 Not E T or P


CP18


Mark to Market Currency must be blank if Mark to Market is blank 1214 Not E T or P


CP17

Mark to Market Value

Mark to Market Value must be blank if Valuation Date is blank 1211 Not E T or P

[Action Type], [Message Type], [Valuation Date]


37

Field Code





CP17

Mark to Market Value

Mark to Market Value must be populated if Mark to Market Currency or Valuation Type are populated 1212 Not E T or P

[Action Type], [Mark to Market Currency], [Message Type], [Valuation Type]

CD25

Master Agreement Version

Master Agreement Version must be blank where Venue ID is a MIC 1118

Not E or V T

[Action Type], [Fund Manager ID], [Message Type]

CD25

Master Agreement Version

Master Agreement Version must be a valid date in format YYYY 1171 T or P

[Common Data Delegated Flag], [Message Type]

CD60 Message Type

Message Type must be one of T, P, or L, as permitted by the repository 1163

Not T or P or L

[Config TRCode]

CD05

Notional Currency 1

Notional Currency 1 must be a valid ISO 4217 currency code if populated 1157

Not E or V T or P


CD06

Notional Currency 2

Notional Currency 2 must be a valid ISO 4217 currency code if populated 1158

Not E or V T or P


CD56

Option Exercise Type

Option Exercise Type must be one of A, B, E, S, X if populated 1148

Not E or V T or P


CD56

Option Exercise Type

Option Exercise Type must be populated if Instrument Classification = OP 1178

Not E or V T or P

[Action Type], [Common Data Delegated


38

Field Code





Flag], [Instrument Classification], [Message Type]

CP03

Other Counterparty ID

Other Counterparty ID must be populated 1003 T or P

[Message Type]

CP03


Other Counterparty ID must be valid LEI because Other Counterparty ID Type specifies LEI 1032

[Other Counterparty ID Type]

CP03


Other Counterparty ID must be valid BIC because Other Counterparty ID Type specifies BIC 1034

[Execution Timestamp], [Other Counterparty ID Type]

CP03A

Other Counterparty ID Type

Other Counterparty ID Type must be populated 1004 T or P

[Message Type]

CP03A

Other Counterparty ID Type

Other Counterparty ID Type must be one of L, B, I 1035

CD13 Price Notation

Price Notation must be populated where Price / Rate is populated 1017

Not E or V T

[Action Type], [Common Data Delegated Flag], [Price / Rate], [Message Type]

CD55 Put / Call

Put / Call must be one of P, C, X if populated 1147

Not E or V T or P


CD55 Put / Call

Put / Call must be populated if Instrument Classification = OP 1177

Not E or V T or P

[Action Type], [Common Data


39

Field Code





Delegated Flag], [Instrument Classification], [Message Type]

CD8A PUTI

PUTI must be populated because Message Type = P 1179 P

[Message Type]

CP06

Reporting Firm Corporate Sector

Reporting Firm Corporate Sector must be populated where Reporting Firm Financial Status = F 1038

Not E or V T or P


CP06

Reporting Firm Corporate Sector

Reporting Firm Corporate Sector must be one of A, C, F, I, L, O, R, U, X 1040

Not E or V T or P


CP05A

Reporting Firm Country Code of Branch

Reporting Firm Country Code of Branch must be a genuine ISO 3166 country code 1041

Not E or V T or P


CP07

Reporting Firm Financial Status

Reporting Firm Financial Status must be populated 1005

Not E or V T or P


CP07

Reporting Firm Financial Status

Reporting Firm Financial Status must be one of F, N, X 1039

Not E or V T or P


CP02

Reporting Firm ID

Reporting Firm ID must be populated 1001

CP02

Reporting Firm ID Reporting Firm ID must be valid LEI 1028


40

Field Code





CP02

Reporting Firm ID

The reporting firm LEI must be eligible for upload by your organisation 1161

CP01

Reporting Timestamp XML Parser error 1000 T or P

[Message Type]

CP01

Reporting Timestamp

Reporting Timestamp must be populated 1000 T or P

[Message Type]

CP09

Submitting Entity ID

Submitting Entity ID must be populated if Submitting Firm ID Type is populated 1050

[Submitting Entity ID Type]

CP09


Submitting Entity ID must be valid LEI because Submitting Firm ID Type specifies LEI 1052


CP09


Submitting Entity ID must be valid BIC because Submitting Firm ID Type specifies BIC 1054


CP09A

Submitting Entity ID Type

Submitting Entity ID Type must be populated if Submitting Firm ID is populated 1051

[Submitting Entity ID]

CP09A

Submitting Entity ID Type

Submitting Entity ID Type must be one of L, B, I if populated 1055

CP12 Trading Capacity Trading Capacity must be populated 1006

Not E or V T


CP12 Trading Capacity

Trading Capacity must be one of P, A 1068

Not E or V T


CD04

Underlying Instrument ID

Underlying Instrument ID must be valid ISIN because Underlying Instrument ID Type specifies ISIN 1101

Not E or V T or P

[Action Type], [Common Data Delegated Flag], [Message Type], [Underlying


41

Field Code





Instrument ID Type]

CD04


Underlying Instrument ID must be valid LEI because Underlying Instrument ID Type specifies LEI 1102

Not E or V T or P

[Action Type], [Common Data Delegated Flag], [Message Type], [Underlying Instrument ID Type]

CD04


Underlying Instrument ID must be one of B, I because Underlying Instrument ID Type = O 1103

Not E or V T or P

[Action Type], [Common Data Delegated Flag], [Message Type], [Underlying Instrument ID Type]

CD04A

Underlying Instrument ID Type

Underlying Instrument ID Type must be one of I, L, O, U, R if populated, as permitted by the jurisdiction for the derivative class 1105

Not E or V T or P

[Action Type], [Common Data Delegated Flag], [Derivative Class], [Message Type]

CD17A

Upfront Payment Currency

Upfront Payment Currency must be an ISO 4217 currency code if populated 1162

Not E or V T


CD08 UTI UTI must be populated because Message Type = T 1202 T

[Message Type]

CP19 Valuation Date

Valuation Date must be populated if Mark to Market Value or Collateral Value are populated 1080 Not E T or P

[Action Type], [Collateral Value], [Mark to


42

Field Code





Market Value], [Message Type]

CP19 Valuation Date

Valuation Date must be populated because Action Type = V 1205 V T or P


CP20 Valuation Time

Valuation Time must be populated if Mark to Market Value or Collateral Value are populated 1081 Not E T or P

[Action Type], [Collateral Value], [Mark to Market Value], [Message Type]

CP20 Valuation Time

Valuation Time must be in the format hh:mm or hh:mm:ss if populated 1206 Not E T or P


CP21 Valuation Type

Valuation Type must be populated if Mark to Market Value is populated 1082 Not E T or P


CP21 Valuation Type Valuation Type must one of M, O 1083 Not E T or P


CP21 Valuation Type

Valuation Type must be blank if Mark to Market Value is blank 1215 Not E T or P


CD10 Venue ID Venue ID must be populated 1014

Not E or V T or P


CD10 Venue ID

Venue ID must be one of XXXX, XOFF or a valid ISO 10383 MIC 1107

Not E or V T or P

[Action Type], [Common Data Delegated Flag], [Message


43

Field Code





Type]

Disclaimer

This document contains text, data, graphics, photographs, illustrations, artwork, names, logos, trade marks, service marks and information (“Information”) connected with Borsa Italiana S.p.A. (“Borsa Italiana”). Borsa Italiana attempts to ensure Information is accurate, however Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. Information in this document may or may not have been prepared by Borsa Italiana and in this last case is made available without responsibility on the part of Borsa Italiana.

The publication of this document does not represent solicitation, by Borsa Italiana, of public saving and is not to be considered as a recommendation by Borsa Italiana as to the suitability of the investment, if any, herein described.

Contact Details

Borsa Italiana Clients Technology Service team

Technical Account Management Italy

[email protected]

+39 02 72426348/606/647

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[email protected]

Toll Free: 0080026772000

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