GTR CFTC/Canada/SEC (NoA): Resolving NACKS

You must resolve all NACKs before they can be considered validated and reported to GTR. To resolve NACKs:

  • Use the Batch Download Report (CSV) or the Message Response (FpML) to identify all submissions that generated a NACK.
  • Cross-check the Message Specifications spreadsheet relevant to your template to understand the error codes your NACK has generated and to determine how to solve them.
  • View the full list of NACK error codes in the CFTC/Canada/SEC: North America Error Codes spreadsheet.

Using the Reports to Isolate NACKs

The Batch Download Report (BDR) contains all successful and unsuccessful submissions, including those submitted on your behalf. The BDR can help isolate NACKs and their error codes to resolve the issues and resubmit.

Note

Both the Batch Download Report and Harmonized Submission Reports capture all your submissions, regardless of whether they generated an ACK or a NACK. The Activity and Trade Reports only capture validated data.
  • There is one BDR per file.
  • There can be 10,000 trades in a file; consequently the BDR can have up to 10,000 NACKs.
  • Each NACK lists up to 20 error codes.
  • If a single NACK has more than 20 error codes, correct the ones identified, resubmit, then view the remaining error codes. FpML users receive the same information via the Message Response.

Resubmitting Corrected NACKs

Resubmit corrected NACK responses using the same formats and channels used for the original submission. Using alternate formats/channels:

  • Results in differences between the GTR service and your own internal records.
  • Can break the message sequence, resulting in inaccurate trade states or positions.