MiFIR – TRSII

Information about the transaction reporting system TRSII

Contact

Inquiry regarding MiFIR TRS can be sent via e-mail to:



MiFIR-TRS@ftnet.dk

Securities dealers, approved reporting mechanisms (ARM) and trading venues which are to report transactions to the Danish FSA pursuant to article 26 of MiFIR must be registered with the FSA and be established in the new TRS system of the FSA, hereafter TRSII.

 

On this page, the Danish Financial Supervisory Authority informs about the IT system, TRSII, e.g. information about test, production, XML versions, error codes and status of operation. We aim to keep the information up to date.

TRSII will go-live on January 3, 2018.

Production
Test
Documentation
Production

Important information

 

Operation


26-10-2018: The FTP server must be upgraded this day and therefore it will be closed down for hours during the day. The FTP server will again be running at the end of the day.

 

Information

TRSII processes the received transaction files during the day. There will be periods where the processing doesn’t 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 periodes, since the referencedata 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 if referring to the new or cancel transaction.

  

When a trade is in RCVD state, it can not 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 will 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 will 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

 

Status            
    XML schema version

    Schema in use: https://www.esma.europa.eu/document/annex-2-mifir-transaction-reporting      

     

    Servicewindow

Known errors

  • 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 is 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 receive from EMSA(FIRDS), where the instruments are not updated correctly in TRSII, when there are updates to the instruments. This means, that there may occur incorrect validations of instruments in transaktions with trading date back in time.  

Errors solved 12-08-2018

  • Transactions, where MIC is registered as a Systematic Internaliser, is 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.


Operation

TRSII is running all days except:

Working days: 02:00 to 05:00

Weekend:        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

Contact at e-mail adresse

Finanstilsynet :MiFIR-TRS@ftnet.dk

BEC                 :bectrs2@bec.dk

 

Opening hours

Weekdays from 09:00 to 15:00

 

Upgrade announcement


 

Test

Important information

   

Operation 

Normal operation.

 

 

Registration for test

In order to participate in the test, 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

 

Status

XML schema version

Schema in use: https://www.esma.europa.eu/document/annex-2-mifir-transaction-reporting


Test cases

Carry through the enclosed test cases

  

Known errors

 

 

 

Operation

The two test environments Test 1 and Test 2 will be open all the time. Test environments are continuously updated so it may appear that they are closed for a short period of time or that they go down outside of our opening hours. However, no support is given on holidays and outside working hours.

 

Contact and opening hours

Contact at e-mail adresse

Finanstilsynet :MiFIR-TRS@ftnet.dk

BEC                 :bectrs2@bec.dk

 

Opening hours

Weekdays from 09:00 to 15:00

 

Upgrade announcement


Documentation
Material from information meetings 

Information meeting 10-05-17

Information meeting 01-12-17 

Functional information

Feedback files

FF files (first feedback file on report file): 
< bizmsgidr=""> will follow the following schema:  _
Example: Feedback file name: FF_TR_353800XVAQXELVCPC871_01_20170407_0092_01.ZIP
< bizmsgidr="">: 353800XVAQXELVCPC871_01170407009201
FD files (feedback on transaction reports that have not previously been accepted or rejected and the FD-files are therefore not specific to a single TR file hence its own sequence numbering):
< bizmsgidr=""> will follow the following schema:  _
Example: Feedback file name: FD_TR_353800XVAQXELVCPC871_01_20170407_0136.ZIP
< bizmsgidr="">: 353800XVAQXELVCPC871_01201704070136

FD files:
< msgrptidr=""> will follow the schema: _
Example: Report file name: TR_353800XVAQXELVCPC871_01_20170407_0136.ZIP
< msgrptidr="">: 353800XVAQXELVCPC871_011704070136

National error codes 
Information about national error codes from TRSII, where ”AA” is the country code of the country in question. Denmark has country code “DK”. 

Control

Error code

Error message

Explanation and corrective action

Filee name syntax1

AAX-001

The file name has an illegal syntax.

Correct the filename so that it complies to the file name convention.

Invalid date

AAX-002

The date does not exist or is in the future.

Correct the date.

Duplicate

AAX-003

The file has already been submitted.

The duplicate file is ignored. If the file comprises new transaction reports, include them in a report file with a different sequence number.

File extension

AAX-004

The file has an illegal extension.

Correct the filename so that it complies to the file name convention.

File size

AAX-005

The file is larger than the allowed[x]MB.

Split the report file into two or more report files.

Signature

AAX-006

The signature is not recognised as a valid signature.

Check and correct the signature of the file. The signing key might be outdated or unknown to us. Also make sure the correct signature algorithm has been used.

Signer

AAX-007

The file has an unknown signer.

The signer is unknown to us. Check and correct the signature of the file.

Decryption

AAX-008

The file can’t be decrypted.

Ensure that the file is properly encrypted. Check the encryption keys you are using or your encryption program. The encryption key might be outdated or unknown to us. Also make sure the correct hashing algorithm has been used

Decompression

AAX-009

The file can’t be decompressed.

Check that the compression comply to the allowed compression method

Signing

AAX-010

The file is not properly signed.

Ensure that the file is properly signed. Check the keys you are using. The key might be outdated or unknown to us.

SEIC

AAX-011

The SEIC is invalid.

Correct the SEIC in the file so that it is a valid legal entity identifier as defined in ISO 17442.

Recipient country

AAX-013

The recipient country, specified in the header, is incorrect

Ensure that the recipient is the country code of the country of the CA to which the file is submitted

Report file name

AAX-014

The report file name is incorrect.

Correct the name of the compressed report file so that it matches the name of the archive file and has the proper extension.

One report file per archive

AAX-015

The archive file does not contain only one report file.

Correct the contents of the archive file so that it contains only one report file.

Reporter allowed

AAX-016

The Submitting Entity is not authorised to report on behalf of the Executing Entity.

Ensure that it has been registered by the Executing Entity or the FSA that the Submitting Entity is authorised to report on behalf of the Executing Entity.

SEIC AAX-017 The SEIC is incorrect Correct the SEIC so that it is the LEI of the Submitting entity
Submitting Entity in BAH AAX-018 The Submitting entity, specified in the header, is incorrect Ensure that the Submitting Entity in the header, is the LEI of the Submitting Entity that submitted the file
Submitting Entity in report AAX-019 The Submitting Entity, specified in the report, is not the one that submitted the file Ensure that the Submitting Entity Identification code in the report, is the LEI of the Submitting Entity that submitted the file

                   1 The syntax control comprise only checking number of characters, separators, and numeric format. 
              Not if the actual content is valid.

 ESMA

Link to ESMA's homepage