1. Introduction
Following the migration to a new technical solution for transaction reporting pursuant to Article 26 (5) MiFIR, which we informed you about in Eurex circular 043/21, and documentation updates, which were announced in Eurex circular 004/22, this circular announces RRS Release 1.1 and provides details on its simulation and production start date as well as on the availability of the updated dedicated documentation.
Simulation start RRS Release 1.1: | | 25 July 2022 |
Production start RRS Release 1.1: | | 3 September 2022 with extracts for trade date 2 September 2022 |
On 3 September 2022, RRS will not be available between approximately 08:00 and 12:00 noon. At approximately 12:00 noon, extracts for 2 September 2022 will be available and upload processing will restart.
The respective client documentation will be provided on the dedicated initiative page under the following path: Support > Initiatives & Releases > Project Readiness > Regulatory Reporting Solution (RRS) for non-MiFIR firms. System documentation, circulars, timeline and much more information will be available there for you.
2. Required action
Non-MiFIR Trading Participants are requested to prepare for the simulation start ensuring an appropriate connectivity and the ability to use the enhanced functionality.
Please retrieve the documentation from the Eurex website www.eurex.com under Rules & Regs > MiFID II/MiFIR > Reporting.
3. Release scope
RRS Release 1.1 will provide the following changes:
A. Validation enhancements
The following validation enhancements will be introduced:
- Adapt LEI validations to the new ESMA MiFIR validation rules
- Reject natural persons as buyer or seller decision maker in case of INTC client-side transaction reports
- Reject lower case letters in TVTIC and COMPLEX_TRADE_COMPONENT_ID
B. Introduction of the correction functionality
The RRS Historical Correction Functionality will allow for corrections of FWB and Eurex transaction reports since trade date 24 August 2020.
4. Necessity for the correction of data between RRS Release 1.0 and RRS Release 1.1
Clients will be asked to perform the following corrections:
- corrections of FWB and Eurex transactions with missing buyer/seller information as well as investment/execution responsibles that occurred between RRS Release 1.0 (trade date 28 March 2022) and RRS Release 1.1 (trade date 1 September 2022),
latest 3 months after the provision of Correction Files.
Correction Files will be available for non-MiFIR firms via Common Report Engine (CRE). The date of their availability and further details will be communicated via Eurex Newsflash.
Affected members will be contacted by their Key Account Managers with further information on the correction procedure.
5. Updated documentation
The following documentation updates will be communicated via Eurex Newsflash:
- updated Trading venue file specifications
- updated User Manual – Non-MiFIR Members.
The documents will be available on the Eurex website under the following link: Rules & Regs > MiFID II/MiFIR > Reporting.
Further information