Barclays EMIR Client Delegated Reporting

January 2024

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 – Systematic Incident for ETD Trades  (COB 2nd Jan 2024)

 

There was a systematic incident due to the global holiday on 1st January 2024 which caused a population of ETD trades to be incorrectly exited.

This issue was resolved the next day. This impacted submissions for both EU and UK EMIR.

Futures – ETD Internal January 2023 Under reporting
TTRT-41761 New

Misreporting of Venue of Execution field for cleared trades executed on a venue in Non-EEA region with TOTV status ‘N’.

As per ISDA best practices, for any reportable post-trade event of a trade executed on non-EEA trading venues (e.g. US Swaps Execution Facility) with the TOTV status indicating “N” (not traded on a trading venue), the Venue of Execution should be reported with the MIC Code “XXXX”. 

FX, Rates Internal January 2024 Misreporting
TTRT-41618 New

Under Reporting on EOD submissions for EquityAccumulatorDecumulator trades due to no value submitted for MTMValue field.

GTR is rejecting our submissions as we are reporting blank values for Valuation Amount.

Equities Internal January 2024 Under reporting
TTRT-41556 New

Misreporting of fields Underlying Identification Type and Underlying Identification.

It was identified that NA is being reported in the underlying fields rather than Underlying Identification Type "X" and Underlying Identification as the name of the index. However, upon further review NA is being reported when a valid value is available.

Equities Internal January 2024 Misreporting
TTRT-41535 New

It has been identified that there is an issue where they see trades cancelled from their EMIR reporting.

If a position is bust/reinstated upstream, in the books and records system GMI, it is sending down the trades included within the position as cancels.

Even if there has been no adjustment or deletion made to the trade.

Futures – ETD Internal January 2024 Under reporting
TTRT-41507 New

Price Notation, Price/rate and Currency of Price fields are being incorrectly being populated for FXAverageOption.

As per the Best Practice For FXAverageOption: where Premium amount is not provided, “Price/Rate” should be populated with ‘0’, “Price Notation” with ‘U’ and Currency of Price to follow accordingly.

Currently, Barclays are reporting Price Notation as “X” Corresponding “Price/rate” as 999999999999999.99999 and “Currency of Price” as Blank.

FX Internal January 2024 Misreporting
TTRT-41326 New If or When a trade is Cleared and facing a clearing house, margin is exchanged between a firm and clearing house to reduce counter-party risk in case if counter-party is bankrupt. Since margin is exchanged between firms and clearing houses, collateral is to be reported for cleared trades when firms face clearing houses. FX, Rates Internal January 2024 Misreporting

 

TTRT-41321

New

For some of the sub products (mentioned below) under FX Barrier Options, Barclays populating contract type OT (Other) instead of OP (Option).

Following review of Best Practice, contract type for Option should be ‘OP' not ‘OT’.

FX Internal January 2024 Misreporting
TTRT-41270 New We are currently reporting the maturity date field for FX Barrier and Average Options with the Option Premium Value Date instead of the Option Expiration Date. As per current reporting,  termination unadjusted date('Maturity Date' as reported by Barclays), which should be populated with the Option expiration date as received in the upstream message, however, we are reporting the Option Premium 'Value date' causing misreporting in the submissions to GTR. FX Internal January 2024 Misreporting
TTRT-41269 New

Currently for Contract Type 'OT' ("Other") for FX exotic (FXRangeAccrual) products, Barclays is populating the field 'Strike Price' and “Strike Price Notation” with data.

Following review of Best Practice, these fields should only be populated where Contract Type is 'OP' and 'ST', for Contract Type 'OT' this filed should not be populated.

FX Internal January 2024 Misreporting
TTRT-41231 Open

Misreporting of Notional Currency 1 Field for all trades as second currency by sorting currencies alphabetically, where there is more than one notional amount.

As per industry best practices, For trades "Where there is more than one notional amount, sort the currencies alphabetically by ISO 4217 standard and report the first currency as Notional currency 1". However, this is currently not being reported correctly.

FX, Rates Internal December 2023 Misreporting
TTRT-41166 Open

End of Day Valuations are being marked as non-reportable, even though our reporting platform even though it has reported an intraday trade for Product - e.g. FixedIncomeTotalReturnSwap and Sub Product - CorporateBondSingleTotalReturnSwap.

There is a table on our reporting platform, that is used to mark reportability for Valuations in relation to ESMA (FCA & ESMA) and MAS and currently the above Product/SubProduct is only marked as reportable for MAS.

Equities, FX, Rates Internal December 2023 Under reporting
TTRT-41146 Open

Misreporting of Notional field value due to Step notional is not being reported for Swaps trades where the 4th Character of the Product Classification field is either I, D or Y and Notional Currency 1 & 2 are matching.

As per industry best practices, when a notional change is a reportable event even when the change is a contractually agreed event, e.g. an amortizing or accreting notional.

Rates Internal December 2023 Misreporting
TTRT-41145 Open

Misreporting of field ‘Quantity’ OTC EquityExoticStructure trades, quoteUnit for QuantityEMIR shows a value of "1".

For Product Type EquityExoticStructure, the number of units provided from upstream in the field "calculatedUnits" is not being mapped to the output to DTCC correctly.

Equities Internal December 2023 Misreporting
TTRT-40537 Open

Trades are incorrectly tagged as “Uncollateralized” due to missing ID in upstream message.

Equities Internal November 2023 Under reporting
TTRT-40614 Open We have identified an issue where for a population of Rates trades, we observed intraday messages shows the UTIs were Cancelled/terminated but still the positions are visible in the TSR reports. Rates Internal November 2023 Over reporting
TTRT-40648 Open GTR is rejecting our submissions as we are reporting Underlying identification type as "I" and as per Specs if Underlying identification type is populated with "I", this field should contain 12 alphanumerical characters and a check digit. However we are reporting a SEDOL Value which does not meet the criteria. Equities Internal November 2023 Under reporting

 

TTRT-40660

Open Misreporting of Venue of execution field due to MIC code not populated by upstream for trades where Barclays is acting as clearing broker and cleared trades. As per industry best practices, this field should be populated with the MIC of the venue where the trade is executed. However, this is currently not being sent downstream causing misreporting of the venue of execution. Rates Internal November 2023 Misreporting
TTRT-40665 Open Misreporting of Product Identification and Product Identification Type for Non-EEA Venues. As per industry best practices, this field should be left blank if the MIC Code in the Venue of Execution xpath lies outside of European Economic Area. Credit, FX, Rates Internal November 2023 Misreporting
TTRT-40667 Open

The Product Identification Type is not valid based on MIC code look up.

GTR rejection received due to incorrect Product identification type being reported for MIC code, which is not in line with the DTCC specifications.

Rates Internal November 2023 Under reporting
TTRT-40699 Open For Equity Portfolio Swap Baskets, within the internal upstream message, we are receiving the individual quantity for the stock held however as the stock is reported as part of a basket Reporting platform is unable to amalgamate the stock to provide a total quantity. The quantity is therefore being reported as 100th of the notional value. Equities Internal November 2023 Misreporting
TTRT-40780 Open

As per ISDA best practices, the field confirmation means should be populated as E "if the trade is confirmed by means of matching electronic messages sent by each party to the other or by each party to a third party system. Following release of a fix in November 2021, we are reporting confirmation means as N for trade that have been confirmed on one of the electronic messaging systems.

Credit Internal November 2023 Misreporting
TTRT-40809 Open As per best practices, the Venue of Execution should be reported with a MIC Code where the trade is executed and a corresponding ISIN is present upstream. However, due to the current reporting logic embedded in our reporting platform, the venue of execution for Credit trades is being misreported as an alternate identifier is present instead of an ISIN in the feed from upstream. Credit Internal November 2023 Misreporting
TTRT-40816 Open

Misreporting of Effective date field value due to different xpath mapping logic for trades which are cleared. As per industry best practices, this field should be populated with Execution Timestamp if available otherwise Clearing Timestamp. However, this is currently not being sent downstream in correct path causing misreporting of the Effective date.

Credit, Rates Internal November 2023 Misreporting
TTRT-40817 Open

Mis-reporting of Effective date field for novation trades. As per industry best practices, For Novation trades this field shall be populated with Novation date if Effective date is in the past.

Rates Internal November 2023 Misreporting
TTRT-40879 Open

Under reporting of CDS Index Swap due to the rejection - the Series is required when EU Underlying Asset ID Type is populated with X.

If field 2.2 (Asset class) is populated with "CR" and field, 2.7 (Underlying identification type) is populated with "X", both fields 'series' and 'version' need to be populated with a positive integer value.

Credit Internal November 2023 Under reporting
TTRT-41012 Open A population of EQ Swaps that are live trades but are reporting an incorrect Valuation Date. The trades should show an up to date valuation and date. Equities Internal November 2023 Misreporting
TTRT-41057 Open Collateralisation details submitted via collateral link to DTCC is overwritten for the trades submitted by Trade Serv when there is an amendment in Trade Serv. Credit Internal November 2023 Under reporting
TTRT-41085 Open

Following a fix, Barclays is no longer reporting ‘X’ in the Clearing Obligation field (instead, Barclays is currently reporting 'Y' or 'N').

However, the ISDA best practice clearly states that "X" remains a permitted value, and ISDA members proposed to retain a scenario for reporting "X", where it will be used to represent products which are not subject to mandatory clearing. Currently Barclays are not aligned with this best practice.

Credit, Equity, Fx, Rates Internal November 2023 Misreporting
TTRT-41117 Open We have observed an issue with the exits on some FX Trades causing missing positions in GTR. We are aware of a potential sequencing issue. FX Internal November 2023 Under reporting
TTRT-41138 Open

Misreporting of venue of execution field, due to no instrument data found in ESM.

We are currently reporting the venue of execution field for EMIR with a default value of XXXX where no instrument data is found in ESM, hence TOTV status cannot be determined.

Rates Internal November 2023 Misreporting
TTRT-40030 Open It have been identified that the trade id is missing when we do not see USI Values generating on equities trades from our upstream platforms. Upstream to send USI Values which can then be used for reporting UTIs for trades. Equities Internal October 2023 Under reporting
TTRT-40015 Open

Under Reporting on Intraday submissions for Credit Clearing trades where the value for 'reference Entity' is not populated.

For Credit trades as per DTCC Validation, the reference entity should be populated as specified in section 2.84.

Credit Internal October 2023 Under reporting
TTRT-40011 Open

For commodities, we need to report the specified Price for commodity Underlyer. This is derived from our reporting platform curve mapping setup for specified price. However, we see this field is unable to retrieve the value. Due to this DTCC is rejecting the trade.

Commodities Internal October 2023 Under reporting
TTRT-39472
TTRT-39470
TRT-39461
Open

Non-Deliverable Currencies incorrectly populated for Delivery Currency and Deliverable Currency 2 fields.

Barclays to populate DTCC Field 'Delivery Currency' with Deliverable Currencies and leave 'Deliverable Currency 2' field blank.

Equities, Rates, FX Internal September 2023 Misreporting
TTRT-39393 Open Deliverable Currency not populated for Credit Trades when Delivery Type is Physical. Credit Internal September 2023 Misreporting
TTRT-39375 Open

Underlying Identification Type and Reference Entity are currently being reported as NA and Blank respectively. This is due to incorrect logic built within our reporting platform that is sending a RED ID (which isn't a reportable value since EMIR 2 go live in Nov 2017), instead of either the ISO 3166 / ISO 3166-2 or the LEI. DTCC are not using the provided RED ID to report Reference Entity and since Underlying Identification Type is sent as NA, they are using this value to report.

Credit Internal September 2023 Misreporting
TTRT-38577 Open For Equity swaps where there are separate Basket and Index legs we are currently only reporting a single line to the regualtor rather than each individual line. Equities Internal August 2023 Misreporting
TTRT-39209 Open We do not see USI Values generating on Paper Confirmed trades from our upstream system. This is causing under Reporting issues as the UTI field is getting reported as blank. Credit Internal August 2023 Under reporting
TTRT-39208 Open

We do not see USI Values generating on Electronic trades from our upstream system. This is causing under Reporting issues as the UTI field is getting reported as blank.

Credit Internal August 2023 Under reporting
TTRT-38636 Open

As per ESMA core specification, the field "Notional Amount 1" must not be populated with a negative value.

Negative values are only allowed when Asset Class = COMMODITIES, For all other asset classes the negative values will be rejected.

Notional Amount 1 is being submitted with a negative value from upstream which is causing under reporting.

Rates Internal August 2023 Under reporting
TTRT-38390 Open Variation and initial margin posted received is not populated for FC collateralization. Equities Internal July 2023 Misreporting
TTRT-38277 Open 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 Open 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 Open

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-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-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-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-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-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-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-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-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-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-39297 Fixed – Pending Resubmission

As per ISDA best practices, the field confirmation means should be populated as E "if the trade is confirmed by means of matching electronic messages sent by each party to the other or by each party to a third party system.

Following a previous release, in November 2021, we are reporting confirmation means as N for ECN trades.

Credit, Equities, FX, Rates Internal September 2023 Misreporting
TTRT-37792 Fixed – Pending Resubmission 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 Fixed – Pending Resubmission

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-36969 Fixed – Pending Resubmission Mismatch of Delivery Type and Settlement Type for Credit. Credit Internal May 2023 Misreporting
TTRT-36968 Fixed – Pending Resubmission Mismatch of Delivery Type and Settlement Type for Equity. Equities Internal May 2023 Misreporting
TTRT-36963 Fixed – Pending Resubmission

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-36978 Fixed – Pending Resubmission Delivery Type incorrectly populated for Commodity Exotic Trades. Commodities Internal May 2023 Misreporting
TTRT-37016 Fixed – Pending Resubmission Delivery Currency 2 populated incorrectly when Delivery Type is Cash for FX Trades. FX Internal May 2023 Misreporting
TTRT-37015 Fixed – Pending Resubmission Deliverable Currency not populated for FX Trades when Delivery Type is Physical. FX Internal May 2023 Misreporting
TTRT-37013 Fixed – Pending Resubmission Deliverable Currency Not Populated for Rates Trades when Delivery Type Cash. Rates Internal May 2023 Misreporting
TTRT-36962 Fixed – Pending Resubmission Incorrect reporting of Strike Price and Strike Price Notation for Contract Type OT. FX, Rates Internal May 2023 Misreporting
TTRT-35826 Fixed – Pending Resubmission 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-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-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-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-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-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-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-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
TTRT-37467 Closed 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-38550 Closed Existing logic sees Underlying Identification Type and Underlying Identification only being reported when the Venue of Execution is not populated with XXXX or XOFF. However, the Validation Rules and Best Practice does not mention that is field should be populated in instances when the trade is done on a venue. Therefore, our reporting platform should look up to ESM to source an ISIN in all instances and report accordingly. Equities, Rates Internal August 2023 Misreporting
TTRT-35889 Closed 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-30484 Closed 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-30340 Closed 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-41050 Closed End of Day Valuations are being marked as non-reportable, even though our reporting platform has reported an intraday trade for Product - FixedIncomeTotalReturnSwap and Sub Product - CorporateBondSingleTotalReturnSwap. Credit Internal November 2023 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.