Barclays EMIR Client Delegated Reporting
13 September 2024
Barclays’ list of known EMIR Reporting errors (timeliness, completeness and accuracy) that may impact Barclays’ delegated trade reporting service are listed below.
| Field Name | Description |
|---|---|
| Barclays' Significant Impact as per Article 9 | This indicates significant issues which we will notify to Barclays’ NCA via Error and Omissions Process |
| Reference ID | This is an internal Barclays Reference, please quote this if you require any further information on this issue |
| Status | This will identify any new, open or closed issues |
| Field | Impacted field |
| Summary | Description of issue |
| Regulatory Body | Impacted Regulatory Body |
| Asset Class(es) | Asset Classes impacted |
| Regulatory Risk | Estimated % impact on overall trade volume (High >5%, Medium 1-5%, Low <1%) |
| Reporting Impact | Accuracy, Completeness or Timeliness issue |
| Publication Date | Date added to Portal |
Internal – Transaction Reporting
| Barclays' Significant Impact as per Article 9 | Reference ID | Status | Field | Summary | Regulatory Body | Asset Class(es) | Regulatory Risk | Reporting Impact | Publication Date |
|---|---|---|---|---|---|---|---|---|---|
| No | TTRT-46877 |
New | Multiple fields for Forward Rate Agreements | Currently we are misreporting multiple fields for Forward Rate Agreements which are not in-line with the expected industry reporting. | EU EMIR |
Rates | Low | Accuracy | 13 September 2024 |
| No | TTRT-47529 | New | Contract Type | For a population of trades we are receiving a DTCC rejection as the contract type was populated incorrectly. | EU EMIR | Commodities, Credit, Equities, FX, Rates | Low | Completeness | 13 September 2024 |
| No | TTRT-47544 |
New | Notional |
The price for some of the Brazilian Rates contracts is represented within our internal system as the contract value of 1 lot, rather than the actual traded price. | UK EMIR |
Futures-ETD | Low | Completeness | 13 September 2024 |
| No | TTRT-47484 | Open | Direction of Leg 1 and Leg 2 | It has been identified that for a population of FX trades we are reporting the direction of leg 1 and leg 2 incorrectly for delegated reporting clients. | EU EMIR |
FX | Low | Accuracy | 06 September 2024 |
| No | TTRT-46688 | Open | Collateral Portfolio Indicator |
An issue has been identified in which the collateral portfolio indicator field is being incorrectly populated as FALSE when the trade should be reported as TRUE. | EU EMIR |
Cross Assets | Low | Accuracy |
30 August 2024 |
No |
TTRT-46854 | Open |
Identifier of the Baskets Constituents |
We are not reporting all applicable ISINs within this field as they are incorrectly being identified as TOTV EU = No when they should be Yes. | EU EMIR |
Equities | Low |
Accuracy | 30 August 2024 |
No |
TTRT-46687 | Open |
Settlement Currency 2 |
We are reporting a value in the field ‘Settlement Currency 2’ post EMIR refit for Non-Deliverable Forwards however, this should be blank. | EU EMIR |
FX | Low |
Accuracy | 23 August 2024 |
No |
TTRT-46688 |
Open |
Underlying identification type |
If Asset class is populated with EQUI, Underlying identification type shall be populated. This impacts Equity Exotics and Equity Swaps. | EU EMIR |
Equities | Low |
Completeness | 23 August 2024 |
| No | TTRT-46434 TTRT-46433 |
Open | Delta value | For OTC Rates trades flowing down from one upstream system, we are not populating the Delta value . Delta value is required when contract type is option or swaption and Underlying ID is not populated with "B". Not populating the value in field Delta is resulting in the exception "If Valuation amount is populated and Contract type is populated with OPTN or SWPT and Underlying identification type is not populated with B, Delta shall be populated". |
EU EMIR | Rates | Low | Completeness | 16 August 2024 |
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 2024.