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Transaction Reporting Service: EMIR
Service Manual
July 2014
Version 1.3
Contents
1.0 Revision History 4
2.0 Introduction 5
2.1 Scope 5 2.2 References 6
3.0 Trade Reporting in EMIR directive and
European legislation 7
4.0 Service Description 8
4.1 Functional specifications 12 4.1.1 Reporting Procedure 14 4.1.2 Fields format 16 4.1.3 Directory structure of sFTP account 17 4.2 Validation data process 17 4.3 Appendix 1 – Client reference data 21 4.4 Appendix 2 – UTI for ETD IDEM 22 4.5 Appendix 3 – Error codes 24
Index
TRS Service Manual 4th February 2014
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1.0 Revision History
Date Version Description Author
8 Jan 2014 1.0 Transaction Reporting Service to EMIR, English Version first draft
Borsa Italiana
21 Jan 2014 1.1 Changes to the first version:
Error codes of the TRS EMIR
Service added
Directory structure of sFTP
account added
Clarification on UTI for ETD IDEM
reporting
Clarification on automatically
generated reports for ETD IDEM
Borsa Italiana
4 Feb 2014 1.2 Changes to the version 1.1:
ETD IDEM automatic generation
not applied for positions
PUTI specifications removed from
Appendix 2
Unavista field list reference file
updated
Error codes table modified (new
fields and values)
Borsa Italiana
11 Jul 2014 1.3 Updates for EMIR phase 2 (reporting obligations for collateral and mark to
market)
Borsa Italiana
TRS Service Manual 4th February 2014
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2.0 Introduction
Following the introduction of a new regulation, EMIR1 which will enter into force on 12th February
2014 (UE No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC
derivatives, central counterparties and trade repositories) all financial transactions executed on OTC
and ETD (Exchange Trade Derivatives) contracts must be reported to ESMA2 certified Trade
Repositories.
The Regulation introduces provisions to improve transparency and reduce the risk on the derivatives
markets.
The service described in this document is offered by Borsa Italiana to its clients in order to facilitate
mandatory transactions and reporting duties, introduced by the EMIR regulation.
Information contained in the present document might be changed according to competent authorities
final approvals.
2.1 Scope
This document describes the functional and technical features of the service.
1 European Market Infrastructures Regulation – Regulation (EU) 648/2012 of the European Parliament and Council on OTC derivatives,
central counterparties and trade repositories – also referred to as “the Regulation” 2ESMA is a European Union independent financial regulatory institution, that works in the field of securities legislation and regulation
to improve the functioning of financial markets in Europe, strengthening investor protection and cooperation between national competent authorities
TRS Service Manual 4th February 2014
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2.2 References
- Questions and Answers - Implementation of the Regulation (EU) No 648/2012 on OTC derivatives,
central counterparties and trade repositories (EMIR) – ESMA document
- UnaVista EMIR Reporting Field Specification v1.7.xlsx
- Transaction Reporting Service_EMIR - technical specifications – Borsa Italiana document
TRS Service Manual 4th February 2014
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3.0 Trade Reporting in EMIR directive and European legislation
EMIR European Union regulation completes the already in force MIFID directive, which specifies new
obligations for ETD and OTC derivatives.
EMIR rules outline regulatory framework for derivatives ETD and OTC contracts addressed to all
involved stakeholders, central counterparties, financial counterparties and clearing members.
Furthermore, EMIR establishes Trade Repositories, a system designated to collect and store all
derivatives ETD and OTC contracts life cycle data.
Borsa Italiana service will use UnaVista EMIR Trade Repository to collect, validate and reconcile all the
operations regarding ETD and OTC on all the asset classes.
Borsa Italiana TRS EMIR service allows to send ETD and OTC transactions to the trade repository,
errors management, thanks to automatically syntactic checks, and the dispatch of the data compliant
with legislation to UnaVista.
TRS Service Manual 4th February 2014
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4.0 Service Description
The TRS EMIR service is placed between client and Trade Repository and according to ESMA
definitions it will be acting as a Third Party. The client maintains data ownership and reporting
responsibility.
Transaction reporting must take place via file upload, this file must use one of the formats listed below
and the layout defined by UNAVISTA described in “UnaVista EMIR Reporting Field Specification
v1.7.xlsx” contained in the package available at
http://www2.londonstockexchangegroup.com/unavista-emir-documentation-pack.
The service will allow clients to perform the following actions:
- Manual transaction entry via GUI
- Bulk Transactions upload from file via GUI
- Exceptions management and upload of corrected transactions
- File upload via SFTP
- Consultation of transaction reports for 5 days after submission
- Historical data consultation
- Data export on .csv file
Supported formats are:
- csv
- ascii
- xml
The transaction must be sent by the end of the next trading day following the trade (that is by T+1
23:59:59 )
Trades reporting syntactic validity is checked before being transmitted to Unavista central Trade
Repository.
TRS Service Manual 4th February 2014
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Unavista will then validate and perform a reconciliation process by T+2. For each phase, Trade
Repository will send response files to TRS EMIR.
These files will be available to clients for consultation, error management and reporting. (see 4.2)
Clients are also required to report the lifecycle records until the expiration of the financial instruments
or until the position is closed.
TRS EMIR also offers a data enrichment service, starting from the reference data provided by the user
during the service subscription (described in Appendix 1).
In addition, for ETD derivatives contracts on instruments cleared by CCG, the data will be used by
Transaction Reporting to retrieve from the Borsa Italiana database all the information regarding
contracts lifecycle stages in order to fill out the files correctly to be sent to Unavista hence reducing
the manual data entry needed by clients.
All validations, exception management and reporting resubmission will be managed by Transaction
Reporting.
For ETD transactions, cleared by CC&G, automatic generation will be configurable, clients will be able
to specify if they want to use this service or if they prefer to personally send ETD transactions on
CC&G guaranteed markets.
Regardless of this choice, transactions sent by clients, once syntactic checks are passed, will be sent to
UnaVista Trade Repository in any case.
In the following diagram, based on ESMA guidelines, pag. 59 of “Questions and Answers -
Implementation of the Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and
trade repositories (EMIR)” document, automatically generated transactions for ETD cleared by CCG (in
case the Client opt for this configuration) are depicted:
TRS Service Manual 4th February 2014
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In case the Client of the TRS EMIR Service is a General Clearing Member and the transaction has been
executed by one of its Non Clearing Members (Investment firm), reports “1” and “4” will be
automatically generated and the Client of the Service is stated as the reporting counterparty. It will also
be possible to configure the Service in order to limit the automatic generation to report “1” only (GCM vs
CCP) in case the General Clearing Member opts for this choice when subscribing to the Service.
If the Client of the Service is a direct member of CCG and is itself the investment firm of this transaction,
the schematic above is simplified and report “1” only is generated.
In case the Client of the Service is a Non Clearing Member who acts as the Investment Firm of this
transaction, report “3” will be automatically generated.
TRS Service Manual 4th February 2014
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The automatic generation of reports will be applicable for trades, positions (as of 12th of August 2014
when reporting obligations for collateral and mark to market come into force) and lifecycles.
For those customers who have opted for automatic generation of transactions, the following procedures
will be applied by the TRS EMIR service:
- two different types of Positions records (both identified with Message Type – CD60 = “P”) will be
sent to Unavista: “aggregated” Positions and “per instrument” Positions;
- aggregated Positions represent the overall Position per each portfolio managed by the CCP and
contain the collateral value posted by the GCM/ICM to the CCP. According to CCP guidelines, the
positions are grouped by account following the account structure under EMIR:
o House Account;
o Main Omnibus Client Account;
o Additional Omnibus Account (AOA);
o Individual Segregated Account (ISA);
- per instrument Positions where the mark to market calculated by the CCP is populated at financial
instrument level but the collateral value is left to zero (because GCMs/ICMs do not post collateral
on an instrument basis).
The PUTI (Position UTI, Unavista field CD8A) will be populated with the portfolio ID (generated by the
CCP) for aggregated Positions and with the CCG Position code (see Appendix 2) for per instrument
Positions.
Regarding OTC and ETD derivatives contracts which are not cleared by CC&G, reporting enrichment
concerns only static reference data provided by client when the contract is concluded (see form in
Appendix 1).
TRS Service Manual 4th February 2014
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This service also offers the opportunity to clients to delegate the Common Data (data regarding the
reported transaction) reporting to the counterparty of the trade, starting from univocal ID (called UTI3)
and transaction reference Data.
4.1 Functional specifications
Borsa Italiana Transaction Reporting receives trades executed by members who have subscribed to the
service, trades sent both individually and automatically are aggregated and consistency and
completeness checks are performed before dispatching the files to UnaVista.
All the operations reported during the whole trading day are accepted by the service and will be
checked as described in 4.3, stored in the Database and then sent to UnaVista.
All transactions accepted by TRS EMIR are sent UnaVista real time for any member.
In the event of a file failing the checks, errors are notified to the clients with the wrong record sent
through the agreed procedure (file, error message on the GUI , etc).
One or more files will be sent to UnaVista via sFTP for each members, the results will be managed by
the service and notified to the connected TRS EMIR clients or to the interconnected active channels.
As described in the legislation; contracts, positions and lifecycle must be reported by the end of the
next working day after the contract day, that is by 23:59:59 (T+1). See fig.1.
Nevertheless, Transaction Reporting EMIR service will accept contract reporting for any day (T+n).
Fig. 1 – Information transmission schedule
3 Unique Trade Identifier
TRS Service Manual 4th February 2014
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T Trade Date T+1 T+2 T3
Rep
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ult
TRS Service Manual 4th February 2014
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4.1.1 Reporting Procedure
Each user can insert their own reports during the trading day in one of the following ways:
GUI, accessible via web server or via local client. Loading a file or manually inserting in a
dedicated window
File upload via sFTP
Loading via GUI
a. Single contract manual upload. Some fields in the input window will be filled with the reference
data provided (see Appendix 1).
b. File upload. Each file can contain transactions from different days.
Transaction reported both manually and via file upload, will be real time displayed on the client
transaction window.
TRS Service Manual 4th February 2014
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SFTP file upload
Each trading day TRS EMIR service will be able to manage multiple files submission.
File name must contain the company ID called LEI (Legal Entity Identifier), file upload date and a
progressive identification number
<ReportingFirm>_<ReportingDate>_<Prog>.<Ext>
<ReportingFirm>: reporting firm LEI code
<ReportingDate>: file submission date. Date must be in YYYYMMDD format
<Prog>: 3 digits progressive id starting from 001. Files whose id is less than or equal to the
last received file will be ignored.
Secure file transfer is available 24 hours 7 days a week.
Reports sent Monday to Friday will be managed and sent to UnaVista real time, whilst ones sent
Saturday and Sunday will be accepted and dispatched to UnaVista the next Monday.
Clients will be requested to login with UserId and password provided during service subscription or via
SSH using RSA public key exchange
All uploaded files will be shown real time in client “Files” window and identified as “FileSFTP” under the
“Source” column.
TRS Service Manual 4th February 2014
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4.1.2 Fields format
This section describes the file format requested by UnaVista.
A complete list of Fields format is available at the following link:
http://www2.londonstockexchangegroup.com/unavista-emir-documentation-pack (file “UnaVista EMIR
Reporting Field Specification v1.7.xlsx”)
Character
File must contain only 8-bit ASCII (ISO 8859-1) characters.
Alphanumeric field
Alphanumeric fields marked as ‘Alpha’ can contain only alphanumerical characters
Numerical data
Numerical data are indicated as ‘Decimal’. Field length also includes decimal digits. For example, length
30 (25,5) is 25 integer and 5 decimals. Delimiter is full stop (.).
Date and Time
All the data inserted in the file must have YYYYMMDD format.
Time will have HH:MM:SS (24-hour-clock) format and time zone UTC.
Files must have an header with the field name as specified by UnaVista:
http://www2.londonstockexchangegroup.com/unavista-emir-documentation-pack (file “UnaVista EMIR
Reporting Field Specification v1.7.xlsx”)
Please note that a sample file is available on the Borsa Italiana website.
TRS Service Manual 4th February 2014
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4.1.3 Directory structure of sFTP account
The sFTP account of each Client is organized with the following directories under the home dir:
- Incoming (directory where the TRS EMIR service saves the response files and a copy of the automatically generated files for ETD IDEM)
- Outgoing (directory where the Client application uploads the transaction files)
From the file transfer protocol standpoint, the Client application will execute a sFTP put into the
Outgoing directory whenever it needs to send its own transaction files to the TRS EMIR Service, whilst
the Client application will perform a sFTP get from the Incoming directory to download the response
files provided by the service following the different validation data processes described in the next
paragraph.
4.2 Validation data process
This chapter describes how the validation process works, from Transaction Reporting EMIR service pre
acceptance ( fields format and length, headers etc) to the validation and reconciliation by UnaVista
Checks performed by Transaction Reporting service are:
1. Instrument identification code check. Users can specify both the ISIN and the native market
alphanumerical symbol. If this field is left empty or invalid data has been submitted, the
system will display an error message and the report will be not dispatched to UnaVista
2. Syntactic and file length check as established by UnaVista.
Following response .txt files will be returned to user containing reports outcomes:
TRS Service Manual 4th February 2014
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Initial validation file, will contain possible format inconsistency, fields correctness and file
format. This check is performed real time by Transaction Reporting EMIR service before files
are sent to UnaVista EMIR TR and will be identified by suffix TRSRes:
Ex: <original file name>_TRSRes.txt
Reponse file from UnaVista EMIR TR File further to delivery and first check. This file will be
sent to clients in 20 minutes after it has been forwarded by TRS EMIR and is identified by
suffix ‘_UVRes’;
Ex: <original file name>_UVRes.txt
Response file from Trade Repository following transaction recording. This file will be returned
within 2 hours from the report being sent and will be identified by suffix ‘_UVTR’.
Ex: <original file name>_UVTR.txt
All response files will contain the information below:
- File handling timestamp (UnaVista will use UK Time)
- Number of transactions sent
- Number of invalid transactions
- Position in the file of the transaction that has generated the error
- Name of the field that has generated the error
- Error code. The list of the error codes is detailed in Annex 3.
- Error code description
- Field Value that has generated the error
TRS Service Manual 4th February 2014
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- Reporting Firm Id
- Transaction Id (UTI)
- Position UTI (PUTI)
- Report Message Type (Trade, Position or Life Cycle)
The values returned in the response files will be consistent with the ones sent in the initial report. Ex:
in case the user doesn’t fill a field, this will be returned empty.
Intraday dispatching outcomes and pending status will be displayed in “Files and Transactions”
window.
Further validation files will be sent back following the data matching process operated by the Trade
Repository within 2 days of the report being sent (T+2).
<original file name>_Differences_yyyyMMdd.txt
<original file name>_Resolved_yyyyMMdd.txt
<original file name>_Summary by Lastupdated_yyyyMMdd.txt
<original file name>_Summary by Trade Date_yyyyMMdd.txt
<original file name>_Unmatched_yyyyMMdd.txt
TRS Service Manual 4th February 2014
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TRS Server UnaVista TR
1) reporting submission
2) data validation
Result acknowledgment
and errors management
5) UV and TRS data validation
4) report dispatch to UnaVista
6) Report sending validation/ exceptions
3) first reporting result
8) reports reconciliation
7) reports forward to
EMIR
9) reconciliation outcome reports
send
10) reconciliation result consultation and possible errors
management
TRS Client
T/T+1 T/T+1 T/T+1
T+2 T+2 T+2
TRS Service Manual 4th February 2014
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4.3 Appendix 1 – Client reference data
TRS EMIR, in order to facilitate clients reporting activity on OTC and ETD not cleared by CC&G and
decrease the amount of data requested for each operation, provides a data enrichment service using
the Reference Data given by the member at service establishment. Data will be provided by filling out
a dedicated form:
ABI Code: mandatory for ETD IDEM reporting only and if the Client chooses for the automatic
generation of cleared by CC&G transactions. It is however recommended the Client always
specifies its own ABI code upon subscription of the TRS EMIR Service.
Reporting Counterparty ID [CP2]: LEI code. Company Univocal Id
Reporting Firm Corporate Name [CP4] – company name
Reporting Firm Registered Office [CP5] – company registered address
Reporting Firm Country Code of Branch [CP5A]: Company Country ISO code
Reporting Firm Corporate Sector [CP6]: company business sector (ex. Bank, Insurance ,
investment bank, lending institution, etc)
Reporting Firm Financial Status [CP7]: specifies if reporting counterparty is financial, not
financial or other (ex. Clearing house)
Moreover, clients who subscribe the service and report ETD contracts on instruments cleared by CC&G will
be asked to provide the same data listed above. They will also be requested to specify if they prefer to
report directly or use the transaction automatic generator feature.
TRS Service Manual 4th February 2014
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4.4 Appendix 2 – UTI for ETD IDEM
This paragraph describes in which way the Clearing system generates UTI codes in order to identify
uniquely trades (for ETD reporting only).
Further details are available in the “Trade Repository Reporting” document published on Cassa di
Compensazione e Garanzia website (www.ccg.it) under “EMIR>Trade Repository” area.
UTI for ETD trades
Field Name Length Description API field
MIC-Code 10 Fixed value
‘000CGIT000’
Participant Code 5 NotifyContract/Abicode
Trade Date 8 Format YYYYMMDD NotifyContract/ContractDate
Product ID 12 Isin Code NotifyContract/ISINCode
Trade Number 12 NotifyContract/ContractNumber (*)
Trade Indicator 1 B=Buy S=Sell (from the
Participant perspective)
NotifyContract/Side
Chain Indicator 1 C=Between CM and CCP
T=Between Trading Member
and Clearing Member
(*) through BCS it is possible to get the trade number (see table above) for each ETD trade (contract
number). Using BCS, it is also possible to fetch the corresponding trade number assigned by the trading
platform (SOLA).
In case the Client opts for the automatic generation of cleared by CC&G ETD transactions, the TRS EMIR
service will use:
- The CCP UTI when reporting the transaction in which the reporting firm is populated with the
Clearing member and the other counterparty is populated with the CCP
TRS Service Manual 4th February 2014
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- The CCP UTI modified replacing the chain indicator T with C (UTI last char) when reporting
the transaction in which the reporting firm is populated with the Clearing member and the
other counterparty is populated with the Trading Member4 and viceversa
UTI for per instrument positions related to ETD trades
Field Name Length Description API field
MIC-Code 10 Fixed value
‘000CGIT000’
Position indicator 1 It will be left blank
Participant Code 5 NotifyPositions/Abicode
Account 1 NotifyPositions /Accounttype
SubAccount 4 NotifyPositions /SubAccount
Product ID 12 Isin Code NotifyPositions /ISINCode
In case the Client opts for the automatic generation of cleared by CC&G ETD postions, the TRS EMIR
service will use:
- The CCP UTI for positions when reporting the transaction in which the reporting firm is
populated with the Clearing member and the other counterparty is populated with the CCP
- The CCP UTI for positions modified adding at the end “T” when reporting the transaction in
which the reporting firm is populated with the Clearing member and the other counterparty is
populated with the Trading Member and viceversa.
4 In this context, Trading member means Investment Firm / Broker in the terminology used in ESMA documents.
TRS Service Manual 4th February 2014
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4.5 Appendix 3 – Error codes
The following table details the list of the possible error codes returned in the different response files of
the TRS EMIR Service.
Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
- -
"Transaction successfully processed" (*_TRSRes.txt feedback files) "Transaction accepted by trade repository" (*_UVTR.txt feedback files) 0 - - -
(Data Type) Invalid date 1
(Data Type) Invalid integer 2
(Data Type) Invalid amount 3
(Data Type) Invalid decimal 4
(Data Type) Data length too long 5
(Data Type) Invalid String (non unicode) 6
(General)
Field must be blank because Common Data Delegated = Y 1204
CP17 CP23
(General)
Either Mark to Market Value or Collateral Value must be populated if Action Type = V 1213 V T or P
(General) Original not found 2000
(General) Duplicate of a UTI already recorded 2001
(General)
This is a cancel or modification of a report which is already cancelled 2002
TRS Service Manual 4th February 2014
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
(General)
Update of UTI failed because previous UTI not found 2003
(General) Common data field does not agree 3000
(General) Report is later than T+1 3001
CP16
Above Clearing Threshold
Above Clearing Threshold must be populated because Financial Status in (N, X) 1074
Not E or V T
[Action Type], [Message Type], [Reporting Firm Financial Status]
CP16
Above Clearing Threshold
Above Clearing Threshold must be blank because Financial Status = F 1075
Not E or V T
[Action Type], [Message Type], [Reporting Firm Financial Status]
CP16
Above Clearing Threshold
Above Clearing Threshold must be one of Y, N, X if populated 1076
Not E or V T
[Action Type], [Message Type]
CD58 Action Type Action Type must be populated 1027
CD58 Action Type
Action Type must be one of N, M, E, C, Z, V, O, D 1149
[Common Data Delegated Flag]
CD58 Action Type
Action Type must be one of N, M, O, V, E, C, Z, D if Message Type = T 1207 T
[Message Type]
CD58 Action Type
Action Type must be one of N, M, O, V, E if Message Type = P 1208 P
[Message Type]
CD58 Action Type
Action Type must be O if Message Type = L 1209 L
[Message Type]
CD59
Action Type Details
Action Type Details must be populated because Action Type = O 1150 O
[Action Type], [Common Data Delegated Flag]
CP11 Benefici Beneficiary ID must be populated if 1062 Not E or T [Action Type],
TRS Service Manual 4th February 2014
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
ary ID Beneficiary ID Type is populated V [Beneficiary ID Type], [Message Type]
CP11 Beneficiary ID
Beneficiary ID must be valid LEI because Beneficiary ID Type specifies LEI 1064
Not E or V T
[Action Type], [Beneficiary ID Type], [Message Type]
CP11 Beneficiary ID
Beneficiary ID must be valid BIC because Beneficiary ID Type specifies BIC 1066
Not E or V T
[Action Type], [Beneficiary ID Type], [Message Type]
CP11A
Beneficiary ID Type
Beneficiary ID Type must be populated if Beneficiary ID is populated 1063
Not E or V T
[Action Type], [Beneficiary ID], [Message Type]
CP11A
Beneficiary ID Type
Beneficiary ID Type must be one of L, B, I if populated 1067
Not E or V T
[Action Type], [Message Type]
CP08 Broker ID
Broker ID must be valid LEI because Broker ID Type specifies LEI 1043
Not E or V T
[Action Type], [Broker ID Type], [Message Type]
CP08 Broker ID
Broker ID must be valid BIC because Broker ID Type specifies BIC 1045
Not E or V T
[Action Type], [Broker ID Type], [Message Type]
CP08 Broker ID
Broker ID must be populated if Broker ID Type is populated 1165
Not E or V T
[Action Type], [Broker ID Type], [Message Type]
CP08A
Broker ID Type
Broker ID Type must be one of L, B, I if populated 1049
Not E or V T
[Action Type], [Message Type]
TRS Service Manual 4th February 2014
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
CP08A
Broker ID Type
Broker ID Type must be populated if Broker ID is populated 1164
Not E or V T
[Action Type], [Broker ID], [Message Type]
CP13
Buy / Sell Indicator
Buy / Sell Indicator must be populated 1007
Not E or V T
[Action Type], [Message Type]
CP13
Buy / Sell Indicator
Buy / Sell Indicator must be one of B, S 1069
Not E or V T
[Action Type], [Message Type]
CD31 CCP ID CCP ID must be valid LEI because CCP ID Type specifies LEI 1129
Not E or V T
[Action Type], [CCP ID type], [Common Data Delegated Flag], [Message Type]
CD31 CCP ID CCP ID must be valid BIC because CCP ID Type specifies BIC 1131
Not E or V T
[Action Type], [CCP ID type], [Common Data Delegated Flag], [Message Type]
CD31 CCP ID CCP ID must be populated if CCP ID Type is populated 1174
Not E or V T
[Action Type], [CCP ID type], [Common Data Delegated Flag], [Message Type]
CD31A
CCP ID type
CCP ID Type must be one of L, B if populated 1136
Not E or V T
[Action Type], [Common Data Delegated Flag], [Message Type]
CD31A
CCP ID type
CCP ID Type must be populated if CCP ID is populated 1175
Not E or V T
[Action Type], [CCP ID],
TRS Service Manual 4th February 2014
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
[Common Data Delegated Flag], [Message Type]
CD29 Cleared Cleared must be one of Y, N if populated 1125
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CD29 Cleared Cleared must be Y if Clearing Timestamp is populated 1173
Not E or V T
[Action Type], [Clearing Timestamp], [Common Data Delegated Flag], [Message Type]
CP10
Clearing Member ID
Clearing Member ID must be populated if Clearing Member ID Type is populated 1056
Not E or V T
[Action Type], [Clearing Member ID Type], [Message Type]
CP10
Clearing Member ID
Clearing Member ID must be valid LEI because Clearing Member ID Type specifies LEI 1058
Not E or V T
[Action Type], [Clearing Member ID Type], [Message Type]
CP10
Clearing Member ID
Clearing Member ID must be valid BIC because Clearing Member ID Type specifies BIC 1060
Not E or V T
[Action Type], [Clearing Member ID Type], [Message Type]
CP10A
Clearing Member
Clearing Member ID Type must be populated if Clearing Member ID is 1057
Not E or V T
[Action Type], [Clearing
TRS Service Manual 4th February 2014
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
ID Type populated Member ID], [Message Type]
CP10A
Clearing Member ID Type
Clearing Member ID Type must be one of L, B, I if populated 1061
Not E or V T
[Action Type], [Message Type]
CD28
Clearing Obligation
Clearing Obligation must be one of Y, N 1124
Not E or V T
[Action Type], [Common Data Delegated Flag], [Message Type]
CD30
Clearing Timestamp
Clearing Timestamp must be populated because Cleared = Y 1126
Not E or V T
[Action Type], [Cleared], [Common Data Delegated Flag], [Message Type]
CD30
Clearing Timestamp
Clearing Timestamp must be blank because Cleared = N 1135
Not E or V T
[Action Type], [Cleared], [Common Data Delegated Flag], [Message Type]
CP23
Collateral Portfolio
Collateral Portfolio must be one of Y, N if populated 1087 Not E T or P
[Action Type], [Message Type]
CP23
Collateral Portfolio
Collateral Portfolio must be populated because Collateral Type != U 1151 Not E T or Pa
[Action Type], [Collateral Type], [Config TRCode], [Message Type]
CP23
Collateral Portfolio
Collateral Portfolio must be populated if Collateral Value is populated 1221 T or P
[Action Type], [Collateral Value], [Message
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
Type]
CP24
Collateral Portfolio Code
Collateral Portfolio Code must be populated if Collateral Portfolio = Y 1217 Not E T or P
[Action Type], [Collateral Portfolio], [Message Type]
CP24
Collateral Portfolio Code
Collateral Portfolio Code must be blank if Collateral Portfolio = N 1218 Not E T or P
[Action Type], [Collateral Portfolio], [Config TRCode], [Message Type]
CP22 Collateral Type
Collateral Type must be one of U, PC, OC, FC 1085 Not E T or P
[Action Type], [Message Type]
CP22 Collateral Type
Collateral Type cannot be U if Collateral Portfolio is populated 1216 Not E T or P
[Action Type], [Collateral Portfolio], [Message Type]
CP22 Collateral Type
Collateral Type must be populated if Collateral Value is populated 1220 T or P
[Action Type], [Collateral Value], [Message Type]
CP25 Collateral Value
Collateral Value must be 0 or greater if populated 1166 Not E T or P
[Action Type], [Message Type]
CP25 Collateral Value
Collateral Value must be populated if Collateral Value Currency is populated 1219 Not E T or P
[Action Type], [Collateral Value Currency], [Message Type]
CP25 Collateral Value
Collateral Value must be populated if Action Type = 'V' and Collateral Type is populated 1222 V T or P
[Action Type], [Collateral Type], [Message
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
Type]
CP26
Collateral Value Currency
Collateral Value Currency must be populated if Collateral Value is populated with a value greater than 0 1091 Not E T or P
[Action Type], [Collateral Value], [Message Type]
CP26
Collateral Value Currency
Collateral Value Currency must be an ISO 4217 currency code if populated 1092 Not E T or P
[Action Type], [Message Type]
CP15
Commercial / Treasury Activity
Commercial / Treasury Activity must be populated because Financial Status in (N, X) 1071
Not E or V T
[Action Type], [Message Type], [Reporting Firm Financial Status]
CP15
Commercial / Treasury Activity
Commercial / Treasury Activity must be blank because Financial Status = F 1072
Not E or V T
[Action Type], [Message Type], [Reporting Firm Financial Status]
CP15
Commercial / Treasury Activity
Commercial / Treasury Activity must be one of Y, N if populated 1073
Not E or V T
[Action Type], [Message Type]
CD45
Commodity Base
Commodity Base must be one of AG, EN, FR, ME, IN, EV, EX if populated 1139
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CD46
Commodity Details
Commodity Details must be one of GO, DA, LI, FO, SO, OI, NG, CO, EL, IE, PR, NP, WE, EM if populated 1176
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CP00 Commo Common Data Delegated must be 1203 T or P [Message
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
A n Data Delegated
Y, N or blank Type]
CD11
Compression Exercise
Compression Exercise must be one of Y, N if populated 1108
Not E or V T
[Action Type], [Common Data Delegated Flag], [Message Type]
CD26
Confirmation Timestamp
Confirmation Timestamp must be populated because Confirmation Type in Y, E 1121
Not E or V T
[Action Type], [Common Data Delegated Flag], [Confirmation Type], [Message Type]
CD26
Confirmation Timestamp
Confirmation Timestamp must be blank because Confirmation Type = N 1122
Not E or V T
[Action Type], [Common Data Delegated Flag], [Confirmation Type], [Message Type]
CD27
Confirmation Type
Confirmation Type must be in Y, N, E if populated 1123
Not E or V T
[Action Type], [Common Data Delegated Flag], [Message Type]
CD27
Confirmation Type
Confirmation Type must be Y or E if Confirmation Timestamp is populated 1172
Not E or V T
[Action Type], [Common Data Delegated Flag], [Confirmation Timestamp], [Message Type]
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
CP14
Counterparty EEA Status
Counterparty EEA Status must be populated 1008
Not E or V T or P
[Action Type], [Message Type]
CP14
Counterparty EEA Status
Counterparty EEA Status must be one of Y, N 1070
Not E or V T or P
[Action Type], [Message Type]
CD41 Currency 2
Currency 2 must be an ISO 4217 currency code if populated 1138
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CD07
Deliverable Currency
Deliverable Currency must be a valid ISO 4217 currency code if populated 1159
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CD18 Delivery Type
Delivery Type must be one of C, P, O 1110
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CD02A
ETD Asset Class Type
ETD Asset Class ID must be one of CO, CR, CU, EQ, IR, OT, BN if populated 1170
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CD19
Execution Timestamp
Execution Timestamp must be populated 1022
Not E or V
T or P or L or L
[Action Type], [Common Data Delegated Flag], [Message Type]
CP27 Fund Fund Manager ID must be valid BIC 1153 Not E or T or P [Action Type],
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
Manager ID
because Fund Manager ID Type specifies BIC
V [Fund Manager ID Type], [Message Type]
CP27
Fund Manager ID
Fund Manager ID must be valid LEI because Fund Manager ID Type specifies LEI 1167
Not E or V T or P
[Action Type], [Fund Manager ID Type], [Message Type]
CP27
Fund Manager ID
Fund Manager ID must be populated if Fund Manager ID Type is populated 1168
Not E or V T or P
[Action Type], [Fund Manager ID Type], [Message Type]
CP27A
Fund Manager ID Type
Fund Manager ID Type must be one of L, B, I if populated 1154
Not E or V T or P
[Action Type], [Message Type]
CP27A
Fund Manager ID Type
Fund Manager ID Type must be populated if Fund Manager ID is populated 1169
Not E or V T or P
[Action Type], [Fund Manager ID], [Message Type]
CD03
Instrument Classification
Instrument Classification must be populated because Instrument ID Taxonomy is not U or S 1011
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Instrument ID Taxonomy], [Message Type]
CD03
Instrument Classification
Instrument Classification must be valid CFI because Instrument ID Taxonomy specifies ISIN or Aii 1099
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Instrument ID Taxonomy], [Message Type]
CD03 Instrument
Instrument Classification must be one of CD,FR,FU,FW,OP,SW,OT 1100
Not E or V T or P
[Action Type], [Common Data
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
Classification
because Instrument ID Taxonomy = E
Delegated Flag], [Instrument ID Taxonomy], [Message Type]
CD02 Instrument ID Instrument ID must be populated 1010
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CD02 Instrument ID
Instrument ID must be valid format ISIN because Instrument ID Taxonomy specifies ISIN 1095
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Instrument ID Taxonomy], [Message Type]
CD02 Instrument ID
Instrument ID must be one of CO, CR, CU, EQ, IR, OT, BN because Instrument ID Taxonomy is E 1097
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Instrument ID Taxonomy], [Message Type]
CD01
Instrument ID Taxonomy
Instrument ID Taxonomy must be populated 1009
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CD01
Instrument ID Taxonomy
Instrument ID Taxonomy must be one of U, I, A, E, S, as permitted by the jurisdiction and repository 1093
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Config TRCode],
TRS Service Manual 4th February 2014
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
[Message Type]
CD32 Intragroup Intragroup must be populated 1026
Not E or V T
[Action Type], [Common Data Delegated Flag], [Message Type]
CD32 Intragroup Intragroup must be one of Y, N 1137
Not E or V T
[Action Type], [Common Data Delegated Flag], [Message Type]
CD49 Load Type
Load Type must be one of BL, PL, OP, BH, OT if populated 1145
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CP18
Mark to Market Currency
Mark to Market Currency must be populated if Mark to Market Value populated 1078 Not E T or P
[Action Type], [Mark to Market Value], [Message Type]
CP18
Mark to Market Currency
Mark to Market Currency must be an ISO 4217 currency code if populated 1079 Not E T or P
[Action Type], [Message Type]
CP18
Mark to Market Currency
Mark to Market Currency must be blank if Mark to Market is blank 1214 Not E T or P
[Action Type], [Mark to Market Value], [Message Type]
CP17
Mark to Market Value
Mark to Market Value must be blank if Valuation Date is blank 1211 Not E T or P
[Action Type], [Message Type], [Valuation Date]
TRS Service Manual 4th February 2014
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
CP17
Mark to Market Value
Mark to Market Value must be populated if Mark to Market Currency or Valuation Type are populated 1212 Not E T or P
[Action Type], [Mark to Market Currency], [Message Type], [Valuation Type]
CD25
Master Agreement Version
Master Agreement Version must be blank where Venue ID is a MIC 1118
Not E or V T
[Action Type], [Fund Manager ID], [Message Type]
CD25
Master Agreement Version
Master Agreement Version must be a valid date in format YYYY 1171 T or P
[Common Data Delegated Flag], [Message Type]
CD60 Message Type
Message Type must be one of T, P, or L, as permitted by the repository 1163
Not T or P or L
[Config TRCode]
CD05
Notional Currency 1
Notional Currency 1 must be a valid ISO 4217 currency code if populated 1157
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CD06
Notional Currency 2
Notional Currency 2 must be a valid ISO 4217 currency code if populated 1158
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CD56
Option Exercise Type
Option Exercise Type must be one of A, B, E, S, X if populated 1148
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CD56
Option Exercise Type
Option Exercise Type must be populated if Instrument Classification = OP 1178
Not E or V T or P
[Action Type], [Common Data Delegated
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
Flag], [Instrument Classification], [Message Type]
CP03
Other Counterparty ID
Other Counterparty ID must be populated 1003 T or P
[Message Type]
CP03
Other Counterparty ID
Other Counterparty ID must be valid LEI because Other Counterparty ID Type specifies LEI 1032
[Other Counterparty ID Type]
CP03
Other Counterparty ID
Other Counterparty ID must be valid BIC because Other Counterparty ID Type specifies BIC 1034
[Execution Timestamp], [Other Counterparty ID Type]
CP03A
Other Counterparty ID Type
Other Counterparty ID Type must be populated 1004 T or P
[Message Type]
CP03A
Other Counterparty ID Type
Other Counterparty ID Type must be one of L, B, I 1035
CD13 Price Notation
Price Notation must be populated where Price / Rate is populated 1017
Not E or V T
[Action Type], [Common Data Delegated Flag], [Price / Rate], [Message Type]
CD55 Put / Call
Put / Call must be one of P, C, X if populated 1147
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CD55 Put / Call
Put / Call must be populated if Instrument Classification = OP 1177
Not E or V T or P
[Action Type], [Common Data
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
Delegated Flag], [Instrument Classification], [Message Type]
CD8A PUTI
PUTI must be populated because Message Type = P 1179 P
[Message Type]
CP06
Reporting Firm Corporate Sector
Reporting Firm Corporate Sector must be populated where Reporting Firm Financial Status = F 1038
Not E or V T or P
[Action Type], [Message Type], [Reporting Firm Financial Status]
CP06
Reporting Firm Corporate Sector
Reporting Firm Corporate Sector must be one of A, C, F, I, L, O, R, U, X 1040
Not E or V T or P
[Action Type], [Message Type], [Reporting Firm Financial Status]
CP05A
Reporting Firm Country Code of Branch
Reporting Firm Country Code of Branch must be a genuine ISO 3166 country code 1041
Not E or V T or P
[Action Type], [Message Type]
CP07
Reporting Firm Financial Status
Reporting Firm Financial Status must be populated 1005
Not E or V T or P
[Action Type], [Message Type]
CP07
Reporting Firm Financial Status
Reporting Firm Financial Status must be one of F, N, X 1039
Not E or V T or P
[Action Type], [Message Type]
CP02
Reporting Firm ID
Reporting Firm ID must be populated 1001
CP02
Reporting Firm ID Reporting Firm ID must be valid LEI 1028
TRS Service Manual 4th February 2014
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
CP02
Reporting Firm ID
The reporting firm LEI must be eligible for upload by your organisation 1161
CP01
Reporting Timestamp XML Parser error 1000 T or P
[Message Type]
CP01
Reporting Timestamp
Reporting Timestamp must be populated 1000 T or P
[Message Type]
CP09
Submitting Entity ID
Submitting Entity ID must be populated if Submitting Firm ID Type is populated 1050
[Submitting Entity ID Type]
CP09
Submitting Entity ID
Submitting Entity ID must be valid LEI because Submitting Firm ID Type specifies LEI 1052
[Submitting Entity ID Type]
CP09
Submitting Entity ID
Submitting Entity ID must be valid BIC because Submitting Firm ID Type specifies BIC 1054
[Submitting Entity ID Type]
CP09A
Submitting Entity ID Type
Submitting Entity ID Type must be populated if Submitting Firm ID is populated 1051
[Submitting Entity ID]
CP09A
Submitting Entity ID Type
Submitting Entity ID Type must be one of L, B, I if populated 1055
CP12 Trading Capacity Trading Capacity must be populated 1006
Not E or V T
[Action Type], [Message Type]
CP12 Trading Capacity
Trading Capacity must be one of P, A 1068
Not E or V T
[Action Type], [Message Type]
CD04
Underlying Instrument ID
Underlying Instrument ID must be valid ISIN because Underlying Instrument ID Type specifies ISIN 1101
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type], [Underlying
TRS Service Manual 4th February 2014
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
Instrument ID Type]
CD04
Underlying Instrument ID
Underlying Instrument ID must be valid LEI because Underlying Instrument ID Type specifies LEI 1102
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type], [Underlying Instrument ID Type]
CD04
Underlying Instrument ID
Underlying Instrument ID must be one of B, I because Underlying Instrument ID Type = O 1103
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type], [Underlying Instrument ID Type]
CD04A
Underlying Instrument ID Type
Underlying Instrument ID Type must be one of I, L, O, U, R if populated, as permitted by the jurisdiction for the derivative class 1105
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Derivative Class], [Message Type]
CD17A
Upfront Payment Currency
Upfront Payment Currency must be an ISO 4217 currency code if populated 1162
Not E or V T
[Action Type], [Common Data Delegated Flag], [Message Type]
CD08 UTI UTI must be populated because Message Type = T 1202 T
[Message Type]
CP19 Valuation Date
Valuation Date must be populated if Mark to Market Value or Collateral Value are populated 1080 Not E T or P
[Action Type], [Collateral Value], [Mark to
TRS Service Manual 4th February 2014
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
Market Value], [Message Type]
CP19 Valuation Date
Valuation Date must be populated because Action Type = V 1205 V T or P
[Action Type], [Message Type]
CP20 Valuation Time
Valuation Time must be populated if Mark to Market Value or Collateral Value are populated 1081 Not E T or P
[Action Type], [Collateral Value], [Mark to Market Value], [Message Type]
CP20 Valuation Time
Valuation Time must be in the format hh:mm or hh:mm:ss if populated 1206 Not E T or P
[Action Type], [Message Type]
CP21 Valuation Type
Valuation Type must be populated if Mark to Market Value is populated 1082 Not E T or P
[Action Type], [Mark to Market Value], [Message Type]
CP21 Valuation Type Valuation Type must one of M, O 1083 Not E T or P
[Action Type], [Message Type]
CP21 Valuation Type
Valuation Type must be blank if Mark to Market Value is blank 1215 Not E T or P
[Action Type], [Mark to Market Value], [Message Type]
CD10 Venue ID Venue ID must be populated 1014
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message Type]
CD10 Venue ID
Venue ID must be one of XXXX, XOFF or a valid ISO 10383 MIC 1107
Not E or V T or P
[Action Type], [Common Data Delegated Flag], [Message
TRS Service Manual 4th February 2014
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Field Code
Field Validation Check Error Code
Action Type Field Dependency
Message Type Field Dependency
Validation Field Dependencies
Type]
Disclaimer
This document contains text, data, graphics, photographs, illustrations, artwork, names, logos, trade marks, service marks and information (“Information”) connected with Borsa Italiana S.p.A. (“Borsa Italiana”). Borsa Italiana attempts to ensure Information is accurate, however Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. Information in this document may or may not have been prepared by Borsa Italiana and in this last case is made available without responsibility on the part of Borsa Italiana.
The publication of this document does not represent solicitation, by Borsa Italiana, of public saving and is not to be considered as a recommendation by Borsa Italiana as to the suitability of the investment, if any, herein described.
Contact Details
Borsa Italiana Clients Technology Service team
Technical Account Management Italy
+39 02 72426348/606/647
Service Desk Italy
Toll Free: 0080026772000
From mobile: +39 02 45411399