Barclays EMIR Client Delegated Reporting
July 2023
Barclays list of known material errors in the delegated trade reporting service potentially impacting the completeness and accuracy of reporting is listed below.
Internal – Transaction Reporting
| Key | Status | Summary | Asset Class(es) | Category | Publication Date | Business Impact |
|---|---|---|---|---|---|---|
| N/A | New (Resolved) |
Production Issue: Advisory Notification - Non-Timely Valuation Submissions (COB 04 July 2023) A software issue in our Reg Reporting Database occurred on Tuesday, 04 July 2023 impacting EMIR end of day valuation submissions. This resulted in an hour delay for one batch of valuations This issue has been resolved. This impacted submissions for both EU and UK EMIR, spanning Barclays valuations and those submitted on behalf of delegated reporting clients. Barclays have separately notified our EU and UK regulators of the issue. |
Cross Asset | Internal | July 2023 | Late Reporting |
| TTRT-38390 | New | Variation and initial margin posted received is not populated for FC collateralization. | Equities | Internal | July 2023 | Misreporting |
| TTRT-38277 | New | Population of field Broker ID when it is either Trade Party 1 or Trade Party 2. Broker ID should be left blank if it is either same as the Trade Party 1 or Trade Party 2 across all OTC asset class. | Cross Assets | Internal | July 2023 | Misreporting |
| TTRT-38027 | New | Clearing Obligation incorrectly populated for ETD Trades: Position and Transaction Level Reporting when VOE is a regulated market or 3rd country equivalent. | Futures – ETD | Internal | July 2023 | Misreporting |
| TTRT-37853 | New | Valuation rejections/position breaks due to missing intraday trade version or intraday trade rejected by GTR. |
Commodities, Credit, Equities, FX, Rates | Internal | July 2023 | Under reporting |
| TTRT-37814 | Open | FXConnect are reporting 2 UTI’s to our FO system, however when the data is fed downstream from upstream to our reporting platform we are only receiving 1 UTI across both the near and far legs for the FX swap. | FX | Internal | June 2023 | Under reporting |
| TTRT-37793 | Open | We are receiving the value for number of Options as 0 for few Equity Options trades which are being rejected by DTCC with exception message - Missing value for field: Number of Options. | Equities | Internal | June 2023 | Under reporting |
| TTRT-37792 | Open | We are incorrectly reporting venue of execution, we should be reporting the MIC code of the venue or “XOFF” or “XXXX” as appropriate. | Equities | Internal | June 2023 | Under reporting |
| TTRT-37575 | Open | For Index contracts the ProductIdPrefix1/Underlying identification type should be X. We are currently reporting all ProductIdPrefix1/Underlying identification type as I (for ISIN). |
Equities | Internal | June 2023 | Misreporting |
| TTRT-37483 | Open | Misreporting of Value of Contract and quantity for EMIR Reporting for EQ Leverage. We identified an issue whereby the leverage factor is being included in the quantity of the trade which in turn leads to the quantity, notional, and value of contract being mis reported. |
Equities | Internal | June 2023 | Misreporting |
| TTRT-37467 | Open | We are currently reporting transactions, positions and valuation messages with ID of the other counterparty = "NameWithheld" instead of a client code. This is due to absence of R6/R5 (Counterparty Consent for reporting) tags in SDS indicating we should withhold the client name. | Futures – ETD | Internal | June 2023 | Misreporting |
| TTRT-37285 | Open | Cross Currency 2 is Blank where Asset class is CU. Exchange Rate Basis must be a valid ISO Currency separated by a "/" followed by a valid ISO Currency. | Futures – ETD | Internal | May 2023 | Under reporting |
| TTRT-37016 | Open | Delivery Currency 2 populated incorrectly when Delivery Type is Cash for FX Trades. | FX | Internal | May 2023 | Misreporting |
| TTRT-37015 | Open | Deliverable Currency not populated for FX Trades when Delivery Type is Physical. | FX | Internal | May 2023 | Misreporting |
| TTRT-37013 | Open | Deliverable Currency Not Populated for Rates Trades when Delivery Type Cash. | Rates | Internal | May 2023 | Misreporting |
| TTRT-37005 | Open | Delivery Currency 2 populated incorrectly when Delivery Type is Cash for Rates Trades. | Rates | Internal | May 2023 | Misreporting |
| TTRT-36984 | Open | Deliverable currency not populated for Equity Trades. | Equities | Internal | May 2023 | Misreporting |
| TTRT-36978 | Open | Delivery Type incorrectly populated for Commodity Exotic Trades. | Commodities | Internal | May 2023 | Misreporting |
| TTRT-36969 | Open | Mismatch of Delivery Type and Settlement Type for Credit. | Credit | Internal | May 2023 | Misreporting |
| TTRT-36968 | Open | Mismatch of Delivery Type and Settlement Type for Equity. | Equities | Internal | May 2023 | Misreporting |
| TTRT-36963 | Open | Maturity Date is reported Blank for OTC Trades. Maturity Date is to be populated and Reported for all OTC Derivatives. We expect the maturity date to be mapped with the Settlement Date. |
Equities | Internal | May 2023 | Misreporting |
| TTRT-36962 | Open | Incorrect reporting of Strike Price and Strike Price Notation for Contract Type OT. | FX, Rates | Internal | May 2023 | Misreporting |
| TTRT-36895 | Open | Master Agreement pulling through Blank or Inconsistently. | FX | Internal | May 2023 | Misreporting |
| TTRT-35602 | Open | This is an industry-wide issue and discussions are ongoing with ESMA to determine how to treat trades, which are executed on out of exchange hours trading. When the trades are executed after the clearing has closed the trades aren't cleared until T+1 (when the exchanges are open for clearing). As ETD is an overnight batch process we don't receive the reporting until T+2 from execution. These trades are marked as late, and it has been highlighted by our own internal reconciliation program. | Futures – ETD | Internal | April 2023 | Late reporting |
| TTRT-36083 | Open | The valuations are missing for the Interest rate trades from the upstream source system frequently leading to under reporting of valuations to regulators. | Rates | Internal | March 2023 | Under reporting |
| TTRT-35826 | Open | For some Rates Trades, we have observed Delivery Type is not generated on the FPML where both ESM ID and CFI Code is present causing under reporting issues. | Rates | Internal | March 2023 | Under reporting |
| TTRT-34707 | Open | Currently, we do not generate the UTI Values for multiple paper confirmation trades from internal booking system. This is causing under reporting issues as the UTI field is getting reported as blank. | Credit | Internal | November 2022 | Under reporting |
| TTRT-34443 | Open | Snapshot (EOD) Message overrides Collateral Values that are summited via Collateral Link File. This is an issue caused by the sequence in which the messages are sent to DTCC. | Commodities, Credit, Equities, FX, Rates | Internal | November 2022 | Misreporting |
| TTRT-32069 | Open | FX Options matured trades but upstream are continuing to sending valuations. This is leading to false breaks in recons. | FX | Internal | November 2022 | Over reporting |
| TTRT-33155 | Open | EOD messages (both Snapshot and Valuation) are only being reported for 1 leg of the package rather than all three. The EOD logic needs to be amended to be in line with the intraday logic for Equity Options. | Equities | Internal | October 2022 | Under reporting |
| TTRT-33457 | Open | For Rates Exotic amendments there is a mismatch in the population of Delivery Type and Settlement Type in the upstream message which results in a change in the population of Delivery type on the outbound reporting due to the different values in the upstream message. Delivery Type on Outbound Messages should not be amended by changes in Settlement Type. |
Rates | Internal | September 2022 | Misreporting |
| TTRT-32227 | Open | We currently report Blank for Delivery Currency and Deliverable Currency 2 fields for OTC Trades. Expected Outcome - report Delivery Currency with the Deliverable Currency for Cross Currency Trades where one of the currency pair is non-deliverable, leave Deliverable Currency 2 blank. |
Credit, Equities, FX, Rates | Internal | June 2022 | Misreporting |
| TTRT-30287 | Open | Barclays is one of the few industry participants that report Portfolio Swaps at Basket level rather than at component level. No clear indication had been issue from ESMA on what's the best way to report Portfolio Swaps, hence Barclays is relying on following industry peers approach. | Prime | Internal | May 2022 | Misreporting |
| TTRT-30521 | Open | Invalid book transfers from TCU on bilateral trades wherein legal entity of a trade is changed while clearing the trade via BBPLC as agent. | Rates | Internal | May 2022 | Under reporting |
| TTRT-30969 | Open | Credit historic trades rejected due to missing Series & Version cannot be remediated due to lack of a backfilling tool that ensures the correct static enrichment. | Credit | Internal | May 2022 | Under reporting |
| TTRT-31620 TTRT-31619 |
Open | Our major regulations (EMIR, CFTC, MiFID, SFTR) are all experiencing exceptions/rejections relating to missing or incorrect INSTRUMENT static data. Barclays needs to improve its processes surrounding these static data fields in order to ensure future messages report as expected. | Cross Asset | Internal | May 2022 | Under reporting |
| TTRT-31976 | Open | Up-front Fee incorrectly populated and reported for Credit Derivatives | Credit | Internal | May 2022 | Misreporting |
| TTRT-32018 | Open | It has been raised that there is no obligation to report expiry trades if they terminate on the originally reported expiry date. ESMA Q&A states: Under Article 9 of EMIR there is a duty to report the termination. However, where termination takes place in accordance with the original terms of the contract, it can be assumed that such a termination was originally reported, provided that the TR adequately identifies this termination date. Therefore, only terminations that take place at a different date should be reported. |
Futures –ETD | Internal | May 2022 | Over reporting |
| TTRT-30655 | Open | There are two issues identified on Portfolio swap reporting, trades with flat positions/no live basket constituents. 1) Full termination event is not received from upstream DeltaOne on such trades which are rejected by regulator. 2) Such trades are treated as terminated by HKMA regulator however daily Valuations is still received within One reg on these trades and is rejected by regulator. |
Equities | Internal | April 2022 | Over reporting |
| TTRT-31788 | Open | For asset class EQ (Index) the ProductIdPrefix1 should be X for all MIFID markets. We are currently reporting all ProductIdPrefix1 as I (for ISIN) for all MIFID markets (Except asset classes CO and CU which are N/A). Logic to be amended for this field to be X for asset class EQ, and I for all other asset classes except CO and CU which should be N/A as per current logic. FIA Best practise states: FIA Members agree to populate this field with 'n/a' for CO and CU asset classes. |
Futures – ETD | Internal | April 2022 | Misreporting |
| TTRT-31737 | Open | Barclays is acting as a clearing broker and we are reporting those trades with Barclays UTIs. However, clients are reporting their side of trades with Markitwire UTIs and MW is reporting those trades on client’s behalf. MW is not receiving the Barclays UTIs on those trades, hence they are generating and reporting with MW UTIs which is causing the pairing breaks. |
Rates | Internal | April 2022 | Misreporting |
| TTRT-31443 | Open | Index Factor, Series and Version incorrectly populated for Credit Trades. Currently Barclays populating Index Factor, Series and Version for Credit Trades when underlying is not Index. Index Factor, Series and Version is to be populated blank when Underlying is not Index i.e Underlying Identification Type equals anything other than 'X' (X = Index). |
Credit | Internal | April 2022 | Misreporting |
| TTRT-31313 | Open | Price Rate, Price Notation and Currency and Price incorrectly reported for Credit Swaptions | Credit | Internal | April 2022 | Misreporting |
| TTRT-31876 | Open | Up-front Fee incorrectly populated and reported for Credit Derivatives. This field should be reported as blank. | Credit | Internal | April 2022 | Misreporting |
| TTRT-30503 | Open | For DSMatch confirmed trades Barclays has identified Valuations being rejected due to "Missing value for field: Trade ID” for Credit reporting. | Credit | Internal | June 2020 | Under reporting |
| TTRT-30656 | Open | For a small population of historic positions the counterparty has been reported as 'Withheld' and when Barclays try to submit valuations using the required party LEI, DTCC rejects these submissions as the combination of UTI/LEI submitted does not correspond with the data already present at the GTR. | Cross Asset | Internal | March 2020 | Misreporting |
Fixed – Pending Resubmission
| Key | Status | Summary | Asset Class(es) | Category | Publication Date | Business Impact |
|---|---|---|---|---|---|---|
| TTRT-35889 | Fixed – Pending Resubmission | GTR is rejecting CDS Index Trades where series and version of the Index is missing with below exception. | Credit | Internal | March 2023 | Under reporting |
| TTRT-31298 | Fixed – Pending Resubmission | As per Regulatory guidance for Credit Derivatives 'Reference Entity' field is to be reported blank when 'Underlying Identification Type' is populated. | Credit | Internal | April 2022 | Misreporting |
| TTRT-30410 | Fixed – Pending Resubmission | Valuations are not being submitted on live CFD trades from the booking system to our reporting platform on Corporate actions booked on dummy instruments and when there is no underlying price for illiquid instruments. | Equities | Internal | March 2022 | Under reporting |
| TTRT-35716 | Fixed – Pending Resubmission | Product ID and Product ID Type to be populated Blank if Venue of Execution is XXXX. | Commodities, Credit, Equities, FX, Rates | Internal | February 2023 | Misreporting |
| TTRT-35533 | Fixed – Pending Resubmission | Delivery Type incorrectly Populated for a population of Interest Rate Swaps. | Rates | Internal | February 2023 | Misreporting |
| TTRT-34673 | Fixed – Pending Resubmission | Fixed Rate being reported with the value of '0' for Rate Swaps whereas it should populate the value available. | Rates | Internal | February 2023 | Misreporting |
| TTRT-34193 | Fixed – Pending Resubmission | Issue observed on CFD trades booked where Full Termination is booked initially followed by a cancellation of the Full termination, the latter being suppressed causing under Reporting Issues. | Equities | Internal | November 2022 | Under reporting |
| TTRT-35065 TTRT-35063 TTRT-35062 TTRT-35061 |
Fixed – Pending Resubmission | Following the release of the strategic architectural change Jira in February to source the values from golden source ESM, the below changes are required to ensure that our reporting platform populate CFI code for specific asset classes when ESM does not return a value. | Credit, Equities, FX, Rates | Internal | January 2023 | Misreporting |
| TTRT-33019 | Fixed – Pending Resubmission | As a result of a regulatory enquiry regarding the accuracy of CFI Codes values submitted, it is required that CFI Codes be sourced from ESM/ANNA, rather than the CFI Code being “manufactured” in our reporting system. | Commodities, Credit, Equities, FX, Rates | Internal | September 2022 | Misreporting |
| TTRT-31506 | Fixed – Pending Resubmission | The effective date is not equal to trade date for novated Interest rate swaptions. | Rates | Internal | April 2022 | Misreporting |
| TTRT-31292 | Fixed – Pending Resubmission | For FX Exotics (Contract Type: OT), where there is more than one Notional Amount, Barclays should sort the currencies alphabetically by ISO 4217 standards and report the first currency as Notional currency 1 and second currency as Notional Currency 2. Notional Field will than will be populated with Notional Currency 1 field value. |
FX | Internal | April 2022 | Misreporting |
| TTRT-30370 | Fixed – Pending Resubmission | Notional Currency 2 not populated for FX Exotic Trades (Contract Type: OT). | FX | Internal | March 2022 | Misreporting |
| TTRT-33649 | Fixed – Pending Resubmission | Incorrect reporting for Credit of the Payment Frequency Field 1 for YEAR value. Currently for Credit trades they are being rejected for reason 'Frequency of Payment 12M not in MIAN,MNTH,QURT,YEAR'. As per DTCC for Credit there is a specific requirement that does not support the value of 12M. |
Credit | Internal | October 2022 | Under reporting |
| TTRT-31658 | Fixed – Pending Resubmission | The quantity on Equity Swaps are not being reported as per the best practice which states that the number of units should be reported. | Equities | Internal | April 2022 | Misreporting |
| TTRT-31517 | Fixed – Pending Resubmission | Seniority to be reported OTHR for Credit Trades when underlying is an Index | Credit | Internal | April 2022 | Misreporting |
| TTRT-30484 | Fixed – Pending Resubmission | For Price Rate we currently we report the 'Market Fixed Rate' and as per recent ISDA changes the correct field to report is 'Fixed Rate' of 'Fixed Amount Calculation'. | Credit | Internal | April 2022 | Misreporting |
| TTRT-30280 | Fixed – Pending Resubmission | It has been identified that Barclays are reporting Confirmation Means as N and resulting Confirmation Timestamp as Blank for Non-Cleared trades without a MIC Code. Execution Timestamp is not being reported as per best practice. We are currently reporting as defaulted value of 00:01:00 but as per the best practice this should be blank for positions. |
Equities | Internal | March 2022 | Misreporting |
| TTRT-30405 | Fixed – Pending Resubmission | For some Credit Swaps, Barclays has highlighted rejected trades where the reporting timestamp is lesser than or equal to the Original Execution Timestamp. These are cleared trades that are part of compression activity where LCH has provided the trade execution date as T and clearing date as T+1 leading to these rejections. | Credit | Internal | April 2021 | Under reporting |
| TTRT-33181 | Fixed – Pending Resubmission | We currently report Blank for Delivery Currency and Deliverable Currency 2 fields for OTC Trades. | Credit, Equities | Internal | August 2022 | Misreporting |
| TTRT-30286 | Fixed – Pending Resubmission | We currently report Blank for Delivery Currency and Deliverable Currency 2 fields for OTC Trades. | Credit, Equities, FX, Rates | Internal | April 2022 | Misreporting |
| TTRT-30340 | Fixed – Pending Resubmission | For EMIR, we are getting rejection on some trades where interest rate index is not getting populated in correct BCML tag and hence OR is not picking up for reporting on Outbound Message. | Rates | Internal | April 2022 | Under reporting |
| TTRT-30473 | Fixed – Pending Resubmission | Delivery Type is to be populated with 'P' (Physical) for FX Trades when both Notional Currency 1 and Notional Currency 2 are populated with Deliverable Currencies. | FX | Internal | March 2022 | Misreporting |
| TTRT-32450 | Fixed – Pending Resubmission | Fixed Rate incorrectly populated for Interest Rate Zero Coupon Swaps. As per ISDA Best Practice Fixed Rate of Leg 1 or Fixed Rate of Leg 2 for Zero Coupon Swaps only is to be populated with the value of '0' rather than the value received from the booking system. |
Rates | Internal | June 2022 | Misreporting |
| TTRT-30534 | Fixed – Pending Resubmission | For Product Classification (CFI Codes) we are incorrectly populating the 1st attribute of group HR for Interest Rate Swaptions. | Rates | Internal | April 2022 | Misreporting |
| TTRT-32386 | Fixed – Pending Resubmission | Following analysis targeting Pairing and Matching following ESMA's annual report on EMIR Data Quality in September 2021, it has been identified that Barclays are reporting Confirmation Means as N and resulting Confirmation Timestamp as Blank for Non-Cleared trades without a MIC Code. As per Industry Best Practice, Confirmation Message (combination of Confirmation Means and Confirmation Timestamp) must be reported when a Non-Cleared trade is not Traded on a Trading Venue, i.e. trades with a MIC Code of XOFF and XXXX. | Rates | Internal | June 2022 | Misreporting |
| TTRT-30038 | Fixed - Pending Resubmission | We are currently reporting X in the Clearing Obligation field for IR and our counterparts are correctly reporting 'Y' or 'N' in line with the ESMA best practice. | Rates | Internal | May 2022 | Misreporting |
| TTRT-30117 | Fixed - Pending Resubmission | Barclays are enhancing their reporting with regards to the ‘Clearing Obligation’ field to stamp 'Y' or 'N' to be is in line with ESMA best practice and improve Pairing & Matching rates. | FX | Internal | April 2021 | Misreporting |
| TTRT-30165 | Fixed - Pending Resubmission | We are currently reporting ‘X’ in the Clearing Obligation field for Credit whilst our counterparts are correctly reporting 'Y' or 'N' (inline with the ESMA Q&A Guidelines). | Credit | Internal | May 2022 | Misreporting |
| TTRT-31182 | Fixed - Pending Resubmission | On a minor population of FX Simple Options, Barclays has identified that there is incorrect reporting logic for ‘Quote basis’ which consequently leads to a misreporting of data. | FX | Internal | March 2020 | Misreporting |
| TTRT-30270 | Fixed - Pending Resubmission | Barclays for some trades record the Collateralization in Intraday as ('OC', 'FC' & 'PC') but in EOD no collateral is reported on these trade. Thus we are reporting this field as blank. | Cross Asset | Internal | April 2022 | Misreporting |
| TTRT-32140 | Fixed - Pending Resubmission | For FX Forwards Price Rate and Exchange Rate 1 must be populated with the same value i.e. the same number of decimal places without rounding. Currently we are reporting different values in each of these values. | FX | Internal | May 2022 | Misreporting |
| TTRT-30278 | Fixed - Pending Resubmission | Barclays has highlighted a minor population of duplicate Positions reported to both ESMA & FCA Trade repository via DSMatch. Post-Brexit the jurisdictions were split as ‘ESMA’ for EU domiciled entities and ‘FCA’ for UK domiciled within DTCC (GTR). | Credit | Internal | May 2021 | Over reporting |
| TTRT-30253 | Fixed - Pending Resubmission | It has been identified that Barclays are reporting Confirmation Means as N and resulting Confirmation Timestamp as Blank for Non-Cleared trades without a MIC Code. | FX | Internal | March 2022 | Misreporting |
Closed
| Key | Status | Summary | Asset Class(es) | Category | Publication Date | Business Impact |
|---|---|---|---|---|---|---|
| N/A | Closed | Production Issue: Advisory Notification - Non-Timely Valuation Submissions (COB 22 June 2023) A technology production issue occurred on Friday, 23 June 2023 impacting EMIR end of day valuation submissions. This persisted throughout the weekend of 24th/25th June, resulting in missing the T+1 reporting obligation. This issue has been resolved, and all non timely valuations were successfully resubmitted on Monday, 26 June. This impacted submissions for both EU and UK EMIR, spanning Barclays valuations and those submitted on behalf of delegated reporting clients. Barclays have separately notified our EU and UK regulators of the issue. |
Cross Asset | Internal | June 2023 | Late reporting |
| TTRT-37033 | Closed | A strategic technology fix was implemented over the weekend 3/4 June to address the subset of equity swap MTM values that were being mis-reported and we have since validated at the Trade Repository that this is now reflected in the reported data. |
Equities | Internal | May 2023 | Misreporting |
| TTRT-34990 | Closed | Termination Date not to be populated for Trades when there is no Partial Unwind or no Remaining Novation Trade Event. As per the Regulatory Requirements 'Termination date in the case of an early termination of the reported contract’. |
Credit | Internal | December 2022 | Misreporting |
| TTRT-34989 | Closed | Termination Date not be populated for Step-In Novation. As per the Regulatory Requirements 'Termination date in the case of an early termination of the reported contract.' |
Credit | Internal | December 2022 | Misreporting |
| TTRT-31988 | Closed | It has been identified that Barclays are reporting Confirmation Means as 'Y' or 'E' and resulting Confirmation Timestamp (as time of Confirmation) for Non-Cleared trades with a MIC Code. As per Industry Best Practice, when a Non-Cleared trade is Traded On a Trading Venue (traded with a MIC Code), Confirmation Means is to be reported with 'N' and resulting Confirmation Timestamp is to be left blank. |
Credit | Internal | May 2022 | Misreporting |
| TTRT-32020 | Closed | For all Index contracts/products the ProductIdPrefix1/Underlying identification type should be X for all MIFID markets. (So when an ISIN is required) We are currently reporting all ProductIdPrefix1/Underlying identification type as I (for ISIN) for all MIFID markets There is a field available in ODH named 'Security type' that captures whether the contract is an Index. This field is not currently available in our ODH files, we require FIS to populate all ODH files (except collateral files) in order for One Reg to identify an Index and populate the underlying identification type as an X. |
Futures –ETD | Internal | May 2022 | Misreporting |
| TTRT-31515 | Closed | Termination Date is to be be populated in the case of Early Termination (Partial Termination), currently we are reporting Termination for Credit Trades in the case of no early termination. |
Credit | Internal | April 2022 | Misreporting |
| TTRT-31299 | Closed | Up-front Fee incorrectly populated and reported for Credit Derivatives. This field should be reported as blank. | Credit | Internal | April 2022 | Misreporting |
| TTRT-31296 | Closed | For Exchange Rate Basis Base and Quote currencies should not be the same. Currently Barclays populating Base and Quote Currencies same value for number of FX Trades. | FX | Internal | April 2022 | Misreporting |
| TTRT-30302 | Closed | For cleared Equities and FX trades, a subset of submissions are being rejected because ‘The Confirmation DateTime must be greater than or equal to Original Execution Timestamp when The 'Confirmation DateTime' is not equal date time to '1900-01-01T00:00:00Z' | Equities, FX | Internal | September 2021 | Under reporting |
| TTRT-30392 | Closed | Fixed Rate Leg 1 and Fixed Rate Leg 2 are incorrectly reported for Rates Exotics. | Rates | Internal | March 2022 | Misreporting |
| TTRT-29985 | Closed | A population of EMIR trade submissions are rejecting from the DTCC due to a Timestamp issue when the confirmation date time is less than original execution timestamp. | Commodities, Credit, Equities, Rates | Internal | July 2020 | Under reporting |
| TTRT-30006 | Closed | A number of amendment messages are being rejected from the DTCC when original submission previously errored. | Equities | Internal | March 2018 | Under reporting |
| TTRT-30007 | Closed | Current reporting logic for reporting 'Master Agreement Type' & 'Master Agreement Version' to DTCC is currently incorrect. For agent setups, when a trade is booked to the sub account, the OneReg logic should follow standard procedure and extract MA data from the agent account in Libra. Currently our logic skips the agent and extracts the MA data from Principal/fund level. | Cross Assets | Internal | May 2022 | Misreporting |
| TTRT-30017 | Closed | The Delivery Currency 2 field is not being populated when the derivative has an FX Component and with the two currencies that are being delivered (The deliverable currency should be the first currency of the two in alphabetical order). | FX | Internal | May 2022 | Misreporting |
| TTRT-30070 | Closed | Following an FCA enquiry Barclays are reviewing their internal suppression logic for some Credit Terminations where trades are Electronically confirmed. | Credit | Internal | April 2021 | Under reporting |
| TTRT-30115 | Closed | Barclays are aligning the format for both ‘Floating rate of leg 1’ and ‘Floating rate of leg 2’ to adhere to the ISDA best practice guidelines. | Rates | Internal | February 2021 | Misreporting |
| TTRT-30116 | Closed | For Exotics there has must be a buyer/seller (Buyer = Pays Fixed) if there is no way to |If there is no obvioulsy Buyer/Seller, then: Leg 1 = leg paid by Buyer| |
Rates | Internal | May 2022 | Misreporting |
| TTRT-30121 | Closed | A certain number of FX trades not reporting due to Action Type Party 1 being incorrectly populated with ‘C’ on a position that does not exist in the GTR. | FX | Internal | October 2017 | Under reporting |
| TTRT-30148 | Closed | Conformance issue identified that Swaptions were not being reported correctly on Leg Alignment as per the ISDA Best Practice. Fixed Rate 2 is being populated differently to the best practice for Swaptions. As per the best practice leg 1/leg 2 determination logic, the legs are determined based on the underlying swap. Since the underlying swap is a fixed float swap, the Fixed Rate to be leg 1 and Float Rate to be leg 2. |
Rates | Internal | May 2022 | Misreporting |
| TTRT-30152 | Closed | We are showing a difference in the Delivery Type field which is indicated by C for Cash or P for Physical that is causing trades to be unmatched. | Rates | Internal | May 2022 | Misreporting |
| TTRT-30158 | Closed | The current Basis Swap logic for determining who is the Buyer or Seller for the EMIR reporting field 'Counterparty Side' does not align to the ISDA Best Practice & ESMA Q&A | Rates | Internal | May 2022 | Misreporting |
| TTRT-30163 | Closed | Notional Currency 1 and 2 to be reported Alphabetically for Cross Currency Derivatives. Barclays are reporting whichever currency appears first in the Inbound message, as Notional Currency 1; and the currency that appears second in the Inbound message is reported as Notional Currency 2. | Rates | Internal | March 2022 | Misreporting |
| TTRT-30166 | Closed | Barclays are reporting Confirmation Means as 'Y' or 'E' and resulting Confirmation Timestamp (as time of Confirmation) for Non-Cleared trades with a MIC Code. We should report Confirmation Means (N) and Confirmation Timestamp (Blank) for Non-Cleared trades with a MIC Code. | Commodities, Credit, Equities, FX, Rates | Internal | March 2022 | Misreporting |
| TTRT-30173 | Closed | For a small population of Rates trades Barclays has discovered for Cross currency swaps, that the 1st leg is not always being populated with the currency that is alphabetically first as per ISDA Best Practice. | Rates | Internal | October 2020 | Misreporting |
| TTRT-30386 | Closed | For certain Rates trades, end of day valuations are being rejected due to Intraday positions not being established. This root cause of this issue is typically due to a newer version of the same trade being booked with a new UTI. This results in a NACK in the daily DTCC Harmonised report. |
Rates | Internal | August 2021 | Under reporting |
| TTRT-30449 | Closed | Some Total Return swaps for Credit do not contain an ISIN leading to rejection from DTCC around missing ISIN. | Credit | Internal | March 2022 | Under reporting |
| TTRT-30435 | Closed | For certain Credit trades, due to incorrect reference data mapping, incorrect ISIN is being applied resulting in rejection from DTCC in Intraday ‘The EU Underlying Asset ID must contain a valid ISIN. | Credit | Internal | September 2021 | Under reporting |
| TTRT-30275 | Closed | Barclays has identified incorrect population of both ‘Underlying Identification’ and ‘Underlying Identification Type’ fields where data isn’t present in source systems/Bloomberg. | Credit, Equities, Futures - ETD | Internal | April 2021 | Misreporting |
| TTRT-30261 | Closed | For a small population of equities trades, Barclays trading infrastructure is suppressing one of the trade legs due to duplicated trade ID’s not being recognized as a part of the same trade. | Equities | Internal | February 2019 | Under reporting |
Impact Category: Impact Definition
Masking Issue: Trade details are not sufficiently masked when sent to the regulator.
Late Reporting: Trades are not reported within the required timeframe, as set out by the relevant regulator.
Under Reporting: Reports not being sent to/being rejected from the Trade Repository.
Over Reporting: Non reportable reports being sent to the Trade Repository.
Misreporting – Economic Data: Accepted by the DTCC but may not be 100% correct as far as the ESMA Tech Standards are concerned or Accepted by DTCC and meets ESMA tech standards but not strictly correct representation of the trade.
Misreporting – Data: Accepted by the DTCC but may not be 100% correct as far as the ESMA Tech Standards are concerned or Accepted by DTCC and meets ESMA tech standards but not strictly correct representation of the trade.
Misreporting – Events: Accepted by the DTCC but may not be 100% correct as far as the ESMA Tech Standards are concerned or Accepted by DTCC and meets ESMA tech standards but not strictly correct representation of the trade.
Industry: Originating from Third Parties (e.g. DTCC, MarketWire, TradeWeb) or gaps in Industry standards.
Internal: Originating from Barclays systems or processes.
Disclaimer
Whilst you have appointed Barclays to carry out trade reporting on your behalf, pursuant to the provisions of UK EMIR and/or EU EMIR, you retain responsibility for ensuring that any reports submitted are accurate, and to check them for completeness. Clients with DTCC accounts are able to log on to check their trade reports have been submitted accurately. We encourage you to do this, and to let us know if you believe there are any errors in the reporting of your trades by contacting emirdelegatedreporting@barclays.com. For clients who have not previously opened a DTCC account please contact 'GTR Support' for service information and registration details. Further DTCC information on onboarding options for prospective clients can be found at: www.dtcc.com.
Barclays is unable to provide you with advice and, as a result, you should ascertain, using such advice as you deem necessary, your own regulatory obligations, including whether you should be notifying your local regulator of any errors which may have a material impact on your trade reporting. Whilst Barclays is liaising with its relevant regulatory authorities regarding its own trade reporting obligations, this will not extend to your own trade reporting obligations.
© Barclays Bank PLC 2023.