Audience
This content applies to clients who report data to GTR, as well as to firms who delegate their reporting.
GTR Reports
ESMA and FCA EMIR reports are generated only if there is eligible data for that report. There are three main report types:
- Daily Trade State Report
- Daily Activity Report
- Harmonized Submission Report
The Daily Trade State and Trade Activity reports are formatted as per the jurisdictional requirements. The reports match exactly what was reported to each regulator.
Clients receive a core submission data view per jurisdiction in the GTR harmonized format for generic submission report reconciliations.
|
Report |
Description |
No of reports |
Frequency |
Format |
Who can View These Reports? |
Alleged position view. |
|
Harmonized & EMIR Lite Submission Report |
Contains all successful and unsuccessful submissions that the client subumitted, as well as those submissions made on their behalf. |
1 per Jurisdiction |
Daily (Tuesday to Saturday) |
Jurisdictional |
The report is available for the Submitter, the Submitted For Party, Execution Agents, and Regulators. |
No |
|
Trade State Report |
Contains the latest active trade state of submissions for unique trade identifiers that contain the relevant jurisdictional value in the Reporting Destination data element. The rules for Trade State are defined per jurisdiction. |
1 per Jurisdiction |
Daily (Tuesday to Saturday) |
Jurisdictional |
The report is available for the Submitted For Party, Execution Agent, and to Regulators. |
Yes. (Valuations are only viewable on a position by the Submitted For Party.) |
|
Trade Activity Report |
Contains all successful submissions across all message types that contain the relevant jurisdictional value in the Reporting Destination data element. |
1 per Jurisdiction |
Daily (Tuesday to Saturday) |
Jurisdictional |
The report is available for the Submitter, the Submitted For Party, the Trade Parties, Execution Agents and Regulators. |
No |
Collateral Reports
There are two Collateral reports produced:
- Daily Collateral Portfolio Valuation Report
- Daily Collateral Link Report
|
Report |
Description |
No of reports |
Frequency |
Format |
Viewers |
|
Daily Collateral Portfolio Valuation Report |
This report provides participants with a view of the reported collateral. This report is asset class-agnostic; all collateral from the OTC Core asset classes appears on the same collateral report. This daily report shows all accepted and rejected Collateral Valuation messages received during the previous day. |
1 common report across all asset classes |
Daily (Tuesday to Saturday) |
Jurisdictional |
1. Submitter 2. Trade Party 3. Third Party Viewer: TPVs see the collateral for the trade party that has permissioned them on the collateral submission. They do not see alleges. 4. Execution Agent: Execution Agents see the collateral for the trade party they represent only if the field Execution Agent Masking Indicator is “false” or ”blank”. They do not see collateral alleges. |
|
Daily Collateral Link Report |
This report shows all collateral link messages with a status of Accepted or Rejected that were received during the previous day. |
1 common report across all asset classes |
Daily (Tuesday to Saturday) |
Jurisdictional |
1. Submitter 2. Trade Party 3. Third Party Viewer : TPVs see the collateral for the trade party that has permissioned them on the collateral submission. They do not see alleges. 4. Execution Agent:– Execution Agents see the collateral for the trade party they represent only if the field Execution Agent Masking Indicator is “false” or ”blank”. They do not see collateral alleges. |
Note: The Third Party Viewer (TPV) field is still available for existing clients. DTCC is exploring the potential removal of this functionality in the future, in line with major jurisdictional re-writes of regulations. Prior to any formal decommissioning, DTCC will contact existing clients utilizing TPV functionality to discuss alternative data access methods .
Exception Reports
|
Report |
Description |
Viewers |
|
Collateral Exception Report |
This report identifies trades for which a valuation has not been received as of the current report date. Warnings are provided at end-of-day for the following situations: 1. Where a valuation message has not been provided for an open trade by a reporting party required to report valuations. 2. Where a valuation message has been provided for an expired trade. |
1. Submitter 2. Trade Party |
|
Valuation Exception Report |
Identifies trades for which a valuation has not been received as of the current report date. Warnings are provided at end-of-day for the following situations: 1. Where a valuation message has not been provided for an open trade by a reporting party who is required to report valuations. 2. Where a valuation message has been provided for an expired trade. |
1. Submitter 2. Trade Party |
Audience
This content applies to clients who report data to GTR and to firms who delegate their reporting.
Accessing Reports through the GTR Portal
You can access your reports on your MyDTCC portal.
MyDTCC-EMEA: Use this portal when reporting your OTC derivatives or SFT trades to the EU or UK Jurisdictions.
- Launch your internet browser (Google Chrome or Microsoft Edge) and log into your GTR MyDTCC Portal.
- From your MyDTCC Portal, click the Tile that corresponds to the GTR Global Portal for your region (GTR EU/UK Portal).
Note: Verify that your SAC has granted you access if the Tile is not available.
Once the GTR Global Portal is launched you are prompted to:
- Select a Jurisdiction.
- Select a Role (if available).
- Choose an O-Code.
- Navigate to Reports>Reports Queue from the main menu. The Reports Queue is the central location to retrieve your reports.
Related Links
Reconciliation Process Overview
Data Submitter
The reconciliation process for a Data Submitter (Direct Reporting) is explained below:
Q: How do I determine my positions?
A: Consult your Trade State Report (all your trades and positions at the end of the day).
Q: Do the positions on my books and records match those in GTR?
A: If Yes, no further action is necessary.
A: If No, ensure that the messages were sent to GTR. Consult the Submission (ALL your day’s message submissions both accepted and rejected) Status Report.
Q: Did the messages pass or fail validation?
A: Messages that passed validation appear on the Trade State report. Their absence means either a delay or a defect; check again and then escalate to GTR Support.
A: For messages that failed validation, consult the NACK Report (ALL messages rejected in that submission/batch along with error codes), then correct the errors and resubmit. (Only available to the Submitter).
Non-Submitter
The reconciliation process for a Non-Submitter (Delegated Reporting) is explained below:
Q: How do I determine my positions?
A: Consult your Trade State Report (All your trades and positions at the end of the day).
Q: Do the positions on my books and records match those in GTR?
A: If Yes, no further action is necessary
A: If No, ensure that the messages were sent to GTR by your data submitter and any counterparty. Consult the Trade Activity Report (ALL your day’s message submissions accepted by GTR that list you as the trade party or the allege).
Q: Does the Activity report reflect the expected activity?
A: If Yes, the problem with your positions is internal to GTR; contact GTR Support.
A: If No, either you have failed to supply your trade data to your data submitter properly or they have failed to pass on your data to GTR properly. Determine the source of the problem, then rectify and resubmit.
Related Links
Audience
This content applies to clients who report data to GTR, as well as to firms who delegate their reporting.
The Inter- and Intra-TR Recon Process
Separate EU and UK Reconciliations for EMIR
The current EMIR Intra/Inter TR reconciliation are separate reconciliations within the UK and EU versions of the EMIR Trade Repository.
To avoid doubt, there are two distinct reconciliation processes:
- EU EMIR (EEA) Reconciliation
- UK EMIR (GB) Reconciliation
The ESMA (EEA) and FCA (GB) reconciliation are independent of each other. For example, no attempt will be required to try to pair/match a submission within the EU EMIR TR with a submission in the UK EMIR TR.
Note: The EEA criteria is used above because inclusion in the reconciliation is currently based on the Country Of the other Counterparty being within the EEA rather than the EU. Similarly, GB is used above rather than UK because inclusion in the UK EMIR reconciliation is based on the Country Of the other Counterparty being the ISO country code GB, rather than UK.
Pairing and Matching
With millions of new trades daily and the trade data for each being potentially split between one or more of Europe’s seven TRs, the task of finding the other side of the trade must be fast and efficient.
To efficiently achieve this task, all TRs break trade data into two categories:
- A small Category 1 part used for Pairing consists of only the LEIs of both Trade Parties and the UTI.
- A larger Category 2 part used for Matching consists of multiple fields of economic data.
Pairing Statuses
Pairing can be time-consuming and can encounter problems. To reflect these issues, there are seven pairing statuses. Whether you need to take any action or not depends on whether there is an error, as well as the error source (you or the other Trade Party):
| Status | Description | Action |
|
Paired |
Has successfully paired, either within the GTR (intra) or with another TR (inter). |
NO ACTION |
|
Exempt |
No pairing required because the other CP is not domiciled in the EEA. |
NO ACTION |
|
Unpaired |
Eligible for pairing, but other side was not found internally (intra) or externally (inter). |
FIX |
|
Unpairable |
Missing UTI |
FIX |
|
N/A |
Reporting Obligation field is missing. |
FIX |
|
Withheld |
UTI or LEI validation failure (different UTI/ LEI, LEI lapsed). |
FIX |
|
Error |
Action type E submitted. |
NO ACTION |
In many cases, fixing errors will require you to liaise with your Trade Party, perhaps encouraging them to act, or having them contact their own TR. Such manual interventions incur delays and costs. Due to the fundamental criticality of LEIs and UTIs, you cannot amend a trade to fix the error. Instead, once you understand why the error occurred, you MUST error out the trade using Action Type = E and then submit a new trade.
Matching Statuses
As with Pairing, Matching can take time and can encounter problems. To reflect these issues, there are six matching statuses.
| Status | Description | Action |
|
Reconciled |
All fields matched. |
NO ACTION |
|
Matched |
Category 1 fields match, but one or more Category 2 fields do not. |
FIX |
|
Unmatched |
Match attempted, but Category 1 fields used for public reporting do not match. Category 2 fields may also be unmatched. |
FIX |
|
Pending |
Trade has been paired with another TR but awaiting trade data details from another TR. |
FIX |
|
Exempt |
Pairing status is 'Exempt.' |
NO ACTION |
|
None |
The client has canceled the trade’s pairing status. |
NO ACTION |
Note: Delays and errors are not always the result of poor practice on the part of the Data Submitter, Trade Party, or GTR. They may be due to delays resulting from the other TRs and you may need to explore resolution with them.
Reports to check your ITR Reconciliation Statuses:
- Trade State Report
- ETD Unpaired Trade Report
- ETD Unmatched Status Report
- OTC Unmatched Status Report
- OTC Expired Unpaired Trade Report
- OTC Expired Unmatched Status Reports
EU/UK Portal Inter-TR Reconciliation Tool
The Inter-TR Reconciliation tool is available through the default EU/UK EMIR Portal . This tool summarizes trade data as part of the Pairing and Matching process required by the EU EMIR and UK EMIR regulations. From the portal, you can drill into the Unpaired and Unmatched data.
Intra & Inter Trade Repository (ITR) Reconciliation FAQs
Q: How do we identify which trades have failed Pairing?
A: The pairing status of ‘live’ OTC trades is listed on the Trade State Report. The pairing status of ‘expired’ OTC trades is listed on the OTC Expired Unpaired Report. The pairing status of ETDs is listed on the ETD Unpaired Trade Report.
Q: How do we resolve our unpaired trades?
A: Pairing failures only arise from LEIs and UTIs, so the relevant report will list only this information for both sides (if available to GTR). Resolution of Pairing failures is required before progression to the Matching stage. Remember that trades with Pairing failures still appear on your TSR (and are therefore reviewed by regulators) if they passed ingestion validation (ACK’d). How you resolve these problems is the responsibility of you and your Data Submitter/s.
Q: How do we identify which trades have failed Matching?
A: The matching status of ‘live’ OTC trades is listed on the Trade State Report. The pairing status of ‘expired’ OTC trades is listed on the OTC Expired Unmatched Report. The pairing status of ETDs is listed on the ETD Unmatched Trade Report.
Q: How do we resolve our unmatched trades?
A: Matching failures arise from inconsistencies between the economic data reported by/for you versus the data reported by your trade party. Unlike Pairing, which involves only UTIs and LEIs, Matching involves over 50 fields; it therefore requires separate reports to capture the higher volume of information. Consult the OTC Unmatched Status Report for ‘live’ OTCs; the OTC Expired Unmatched Report for ‘expired’ OTCs; and the ETD Unmatched Status Report for ETDs. The relevant reports list all fields, but only populates the ‘allege’ side (your Trade Party’s entry [if available to GTR]) when there is a mismatch that needs investigation/resolution. Trades with Matching failures still appear on your TSR (and are therefore reviewed by regulators) if they passed ingestion validation (ACK’d). How you resolve these problem is the responsibility of you and your Data Submitter/s.
Related Links