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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

  1. Go to Tools → Import file → Ex-post and ex-ante material…

  2. Press Choose File and select the EMT file. Press Upload. After that press Confirm upload.

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Security identification

Securities are identified based on:

  1. ISIN code + currency (if EMT file contains an ISIN code)

  2. 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.

EMT-import-testcase.csv