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Send MiFIR transaction reports

MiFIR transaction reporting is based on certain fixed values (details about the reporting entity) and some changing values (transaction and execution details). To start using MiFIR transaction reporting, first configure the fixed values.

To use this functionality, you should have role REP_TRS .

Prerequisites

The majority of the features come pre-installed. Please ask FA to install MiFIR reporting automation route from FA Standard Setup (Optional packages) if you want to use the automated sending functionality.

Configure MiFIR transaction reporting

Go to ToolsAdministerTransaction reporting → Manage… This will open up a window like the one you can see below:

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Enter the details about your investment company:

  • Sender LEI code, meaning the Legal Entity Identifier (LEI) code of the company doing the reporting

  • Receiving country and authority for the report

  • Alternative sender ID (optional, only used when the authority is CSSF or CySEC)

  • Executing party contact ID, meaning the party that executes the trades. The company in question should be stored as a contact in FA, whose contact ID is entered here.

  • Is the executing party an investment company? is used to define whether the executing party is an investment company or not.

  • The country of the reporting branch (usually the same as the Receiving country)

  • Package the file into ZIP selection is used to produce a ZIP file containing the report, instead of just the report. ZIP file is required by FIVA in Finland, but this box should only be checked if sending the file manually. The automatic file transfer described below handles the zipping of the file automatically. Please note that the file is provided with the upper case file extension (ZIP), which is required by FIVA in Finland. For example FI in Sweden requires the file extension lower case (zip), meaning that you have to change the extension manually if you are sending the zipped files manually to FI in Sweden.

Enable automatic file transfer to authority

Note

This feature is currently only supported when reporting in Finland or Sweden.

If you wish to use automatic file transfers to and from the authority, check Enable automatic transfer. If you wish to send your files manually, this box can be left unchecked. You can always download the file to your local computer before sending regardless of which option you choose.

When reporting to Finansinspektionen, enter the username and password in the fields provided.

When reporting to Finanssivalvonta, enter the username in the username field and the private key passphrase in the password field. In addition, you need to follow the instructions below to upload your private key.

Furthermore, select from the Test or production system dropdown whether you wish the automatic transfer to happen between the test or the production system provided by the authority.

Note

In most cases you need to inform the authority from which IP address you will be sending the reports so that they can allow the transfer through their firewall. Make sure that this whitelisting is in place. Usually from production systems, the IP to whitelist is 51.124.71.179.

Upload private key when required by the authority

Some authorities, such as Finanssivalvonta, provide a SFTP connection that requires a private key for authentication. To upload your private key, follow these steps.

Go to AdministerTransaction reporting → Upload private key.. Select the radio button Transaction reporting, click Choose files, select the private key file from your local computer, click Upload and then Confirm upload. The private key should be named private.pem. You can either rename it before uploading or use the Edit icon (the icon with the notepad and pen) to rename it between clicking Upload and Confirm Upload.

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Fill in data required for transaction reporting

Please follow the instructions provided in [Extension] MiFIR Transaction Reporting to enter the data required for the transaction reporting.

Send the transaction report

When the setup is done and the transactions, security, contact and portfolio information and tags in place, the report is sent from the Transactions view by searching for the transactions to report and clicking Create report → Transaction report. The transactions to be reported need to have the tag MiFIR-Report as described in [Extension] MiFIR Transaction Reporting to be included. In the following window you can download the report file, cancel the reporting by clicking Delete and send in the report (if using automatic file transfer) by clicking Done. If the report is sent manually, it should to be downloaded to the local machine before clicking Done and then uploaded to the authority via the service they provide.

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Follow up on the status of the transactions

You can follow the status of your transactions using the Dashboard called MiFIR reporting. You can see the transactions waiting to be reported under MiFIR-Report, the ones already sent but with no response from the authority under MiFIR-Sent and the ones that are accepted (MiFIR-Accepted) or rejected (MiFIR-Rejected).

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You can always check which reports have been sent or received from the Tasks view by selecting the lists All tasks and All completed tasks and filtering with the search string MiFIR, as shown below. The task titles explain what the task is about.

Task title

Description

MiFIR report sent

The report attached to the task has been generated and sent to the authorities if automatic transfer is in use.

MiFIR response received

The authorities have sent a response to the report and the transactions are tagged accordingly.

MiFIR report failed

The report attached to the task was not sent to the authorities due to validation errors. Usually this is due to missing information either on the transaction, security, portfolio or contact.

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