Import ex-post and ex-ante costs from EMT file
EMT is a standard file format that is defined by EU regulators. It contains standardized information about funds, such as their costs (broken down into various types). Fund companies which operate in the EU are obligated to provide EMT files concerning their funds upon request.
The EMT file importer in FA fills in securities' ex-post and ex-ante costs (MiFID) based on EMT file content.
Import file
Go to Tools → Import file → Ex-post and ex-ante material…
Press Choose File and select the EMT file. Press Upload. After that press Confirm upload.
Security identification
Securities are identified based on:
ISIN code + currency (if EMT file contains an ISIN code)
OR based on security code (if process cannot find security based on ISIN code, OR if file doesn't contain ISIN code)
Mismatch
If there are securities in the file that that does match securities in FA, the route doesn't give any direct feedback, but it logs the following occurrances:
Unable to find a security for one of the rows: LOG.debug("Couldn't find security with secId ${secId}, idType ${idType}, currency ${currency}")
Processing crashes for one of the rows: LOG.warn("Failed to read MiFID data: "+rowMap, e)
File format
For FA to be able to read the file, the format need to be the following:
UTF-8 encoding
One of the officially supported delimiters: ; | , or tab.
Dot (.) as a decimal separator
Date format dd.MM.yyyy or to yyyy-MM-dd
Interpretation of percentage figures: The percentage figures are interpreted as-is. That means that, for example, 0.2 in the file corresponds to 0.2% when imported.
Imported fields
The EMT reader imports the following MiFID cost fields:
EMT file field (EMT specification version 3) | EMT file field (EMT specification version 1) | Field in FA | Ex-ante / ex-post |
|---|---|---|---|
07120_Financial_Instrument_Distribution_Fee | 07120_Financial_Instrument_Distribution_fee | One off charges | Ex-ante |
07100_Financial_Instrument_Gross_Ongoing_Costs | 07100_Financial_Instrument_Ongoing_costs | On-going charges | Ex-ante |
07130_Financial_Instrument_Transaction_Costs_Ex_Ante | 07130_Financial_Instrument_Transaction_costs_ex_ante | Transaction charges | Ex-ante |
07140_Financial_Instrument_Incidental_Costs_Ex_Ante | 07140_Financial_Instrument_Incidental_costs_ex_ante | Incidental charges | Ex-ante |
08060_Financial_Instrument_Distribution_Fee_Ex_Post | 08060_Financial_Instrument_Distribution_fee_ex_post | One off charges | Ex-post |
08030_Financial_Instrument_Ongoing_Costs_Ex_Post | 08030_Financial_Instrument_Ongoing_costs_ex_post | On-going charges | Ex-post |
08070_Financial_Instrument_Transaction_Costs_Ex_Post | 08070_Financial_Instrument_Transaction_costs_ex_post | Transaction charges | Ex-post |
08080_Financial_Instrument_Incidental_Costs_Ex_Post | 08080_Financial_Instrument_Incidental_costs_ex_post | Incidental charges | Ex-post |
00050_General_Reference_Date | 00050_Reporting_Date | MiFID data date | Ex-ante |
08090_Beginning_Of_Reference_Period | 08090_Beginning_Of_Calculation_Period | MiFID data date range start | Ex-post |
08100_End_Of_Reference_Period | 08100_End_Of_Calculation_Period | MiFID data date range end | Ex-post |
In case of overlapping data, old data is overwritten.
For example it picks up the latest costs file which contains costs for 2018-12-31, but security already contains costs definitions for that date
Ex-ante data is "real-time"; ex-ante figures from a data file dated 2018-01-01 gets saved directly into ex-ante costs of 2018-01-01.
Ex-post data is retroactive; e.g. we'll get an ex-post costs data file on 2018-12-31, which includes ex-post costs calculated for 2018-01-01-2018-12-31 → we'll retroactively set ongoing ex-post costs for the entire year.
If we get an EMT data row without date information, we won't import anything for that row.
Testing
The attached example file can be used for testing purposes.