25-01-2021: (RESOLVED 25-01-2021) We are experiencing connection issues since Saturday with our IT supplier, which means that submitting entities cannot connect to the TRSII system. The issue is escalated and we will update the website as soon as the issue has been resolved.
Following The United Kingdoms(UK) exit from EU on 31st December 2020, changes to ESMAs IT systems will be processed, in order to manage UK as a third country according to EU law.
Therefore, UK will not be sending data to ESMA or EU member states and all IT systems will continue for EU 27.
To manage the transition, a series of changes will be implemented from 31st December 2020 by ESMA and competent authorities, and certain circumstances will apply in regards to reporting to TRSII, FIRDS, TREM, FITRS and DVCAP in a maintenance window following the 31st December 2020.
Reporting to the DFSA shall continue, and transaction reports will be validated against reference data from 31st December 2020, until we receive the updated reference data fil from ESMA excluding UK instruments.
The DFSA will update our systems according to ESMAs planning.
24-04-2020: Due to an upgrade to the system, TRSII will be closed down Monday morning May 4th 2020. Transaction reports can still be submitted, and they will be processed from Monday afternoon.
21-02-2020: Due to an upgrade to the system over the weekend, TRSII will be closed down for 24 hours from 11:00 Saturday 22-02-2020. Transaction reports can still be submitted, and they will be processed from Sunday onwards.
21-06-2019: Due to an upgrade of the TRS2, there may encounter delays on the feedback files on transaction reports on 24-06-2019.
ESMA updates 2019
On September 23rd 2019, changes will be made to transactionreporting under MiFIR. After Friday September 20 2019, it will only be possible to report according to the new schemas.
The changes will be introduced to the test environment on August 8th 2019, and ready for use on August 9th. We strongly encouraged the industry to test against Finanstilsynet.
The new XML schematic descriptions used for reporting and the release plan for the new changes are available on the ESMA website. The reporting platform will be version 1.1.0.
TRSII processes the received transaction files during the day. There will be periods where the processing does not take place due to maintenance or loading reference data from ESMA. TRSII is currently closed for processing of local transaction files in the periods 00:00-05:00 and 08:00-12:00.
Since ESMAs delivery of reference data from FIRDS continues to be unstable, transactions sent to Finanstilsynet will have the status received for certain periods, since the reference data is delayed.
The transanctions will be processed as soon as we have the reference data from ESMA, and your transactions will get status Accepted, Pending, or Rejected.
ESMA has stated in their specifications that if feedback files have both accepted trades (ACPT) and received trades (RCVD), no information is provided to distinguish which trades are accepted and which are received. The same goes if you send the same transaction both as new and cancel in the same file, so in the OrgnlRcrdId field of the feedback file you cannot see whether it is referring to the new or cancel transaction.
When a trade is in RCVD state, it cannot be canceled. If you try, you get the error code CON-024 in the feedback file. When a trade is in PEND status, it can be canceled. In case of errors in TRSII, where transaction reports are wrongly rejected, it is not possible for Finanstilsynet to reread the reports. It is therefore necessary that the submitting entity resend the reports when the issue is resolved.
In case of errors in TRSII, where transaction reports are wrongly rejected, it is not possible for Finanstilsynet to reread the correct reports. It is therefore necessary that the submitting entity resend the reports when the issue is resolved.
Registration for production
In order to gain access to the production environment, please do the following:
1. Read the enclosed guideline
2. Fill in and forward the enclosed form to the Danish FSA
3. Send SSH key pair to BEC
XML schema version
Schema in use: https://www.esma.europa.eu/document/annex-2-mifir-transaction-reporting
- A transaction report previously accepted can subsequently not be both deleted (CANC) and retrieved (NEWT) in the same file. If so, we accepted the CANC transaction report while the NEWT transaction report is rejected with error code CON-023. You must therefore submit CANC and NEWT to the same transaction report in separate files.
Errors solved at 08-02-2018
- Transactions with trading in underlying instruments where the underlying instrument is valid and found in the reference data are currently incorrectly rejected by our system with the error: "CON-472". Please resubmit the transactions that have been rejected with the error code CON-472
Errors solved 23-03-2018
- Reference data has not been received from ESMA since Friday, 16-03-2018. Received transaction reports will therefore not be validated until the reference data is received from ESMA. This means that submitting entities will not receive feedback files before DFSA receives data from ESMA again.
Errors solved 08-05-2018
- CON-340: Trades in a few currencies (eg CZK, AZN, PHP) are unfortunately rejected with error code CON-340 (Currency is not valid for the trade date), despite being valid currencies.
- CON-351: At the moment transaction reports with CFI-code D***** are wrongly rejected if field 35 is not completed, even for debt instruments where field 35 (net amount) is not well defined.
- CON-552: Transaction reports traded on the same day as an instrument expires is incorrectly rejected with error code CON-552
- Transaction reports which have gotten the temporary status PEND or RCVD, do in some cases not receive feedback information.
Errors solved at 30-05-2018
- An error has been identified in the instrument data, that the DFSA receives from ESMA(FIRDS), where the instruments are not updated correctly in TRSII, when there are updates to the instruments. This means that there incorrect validations of instruments in transactions with trading date back in time may occur.
Errors solved 12-08-2018
- Transactions, where MIC is registered as a Systematic Internaliser, are currently being rejected in our system with the error: “CON-370”, if field 37 is not populated in the transaction report. We are looking into the problem and will give an update when possible.
Temporarily the problem can be solved by populating field 37 with country code, also in cases where the MIC is registered as a systematic internaliser.
TRSII is running all days except:
Working days: 00:00 to 05:00
Weekend and holidays: 12:00 to 24:00
We may need to close the system between 05:00 - 24:00 to perform service on the IT-system and in such cases we will notify you on the website. Please note that the system does not process local files between 08:00 and 10:00 on working days due to the loading of ESMA reference data.
Contact and opening hours
Operational and technical queries on the TRSII system: Bectrs2@bec.dk
Legal queries and questions on MiFIR: SEKO4firstname.lastname@example.org
Weekdays from 09:00 to 15:00
We will upgrade the system 02-12-2018