open day 2017 regulatory reporting hub
TRANSCRIPT
Open Day 2017Regulatory Reporting HubMarco Popp and Regina Geschmayová5 October 2017
2 Regulatory Reporting Hub Introduction 7 Technical connectivity matrix
3 Release roadmap 9 Connectivity set-up
6 Customer and operational readiness
Contents
Deutsche Börse Group 1
Regulatory Reporting Hub (RRH)
§ Service offered by Deutsche Börse MD+S to fulfil the regulatory requirements
§ Multi-regulation and multi-jurisdiction reporting capability on a single platform
§ Customers send:
Reconciliation
On-exchange trades
OTC transactions data
Regulatory Reporting Hub
National Regulatory Authorities (NCAs)
Reporting
Consolidation & enrichmentValidation
Deutsche Börse Group 2
Release 1.0
Nov 2017Oct 2017Jul 2017 Jan 2018
Release roadmap (1/3)Overview
Trad
e re
porti
ngTr
ansa
ctio
n re
porti
ng
MiFID II Release 1.1
28 Sep 2017
EMIR 2 Release 1.1
15 Nov 2017
Release 1 Feb – 15 Nov17
Release 1 Feb – 15 Nov 2017
Reg
ulat
ions Go-live
EMIR 2Go-live MiFID II
28 Oct 2017 3 Jan 2018
Deutsche Börse Group 3
Release roadmap (2/3)OTC trade reporting / SI services
OTC trade reporting§ Price / volume checks,
(including FX rates)§ TOAX flag via ARM service§ Assisted reporting§ Instrument scope check and
reporting party check (OTC derivatives, FpML / XML-based)
SI services§ Quote publication§ Quote withdrawal and mass
cancellation§ Amend and cancel quotes
§ Post-trade deferrals and transparency suspensions
§ Package trades§ Trade aggregation§ Reporting on behalf§ Amend and cancel
trades
§ Quote and tradecompliance report
§ Reporting on behalf§ Quality of execution
Release 1.0
OTC Trade Reporting§ Portfolio compression§ NCA report to the BaFiN§ Audit trail§ Return reference data to
customers§ ISIN service
SI services§ SI identification (trade)§ Top 5 venue reporting§ Top 5 broker reporting§ SI reference data reporting
to NCAs incl. ANNA DSB
28 Sep 2017 15 Nov 2017
Nov 2017Oct 2017Jul 2017 Jan 2018
Release 1 Feb – 15 Nov 2017
Deutsche Börse Group 4
Go-live EMIR 2
Go-live MiFID II
28 Oct 2017 3 Jan 2018
Release roadmap (3/3)Transaction reporting
Transaction reporting§ Updated validation rules according to ESMA update on guidelines
and instruction rules§ Automatic framework to copy NCA outbound files to customers§ GUI audit trail tab§ Member Section
EMIR 2§ Transactions§ Positions§ Valuations§ Portfolio-based collaterals
Transaction reporting§ MiFIR process feedback from NCA§ Enrichment with APA data§ Load instrument data from ESMA§ DBAG trading venue enrichment
(Eurex & Xetra)§ Four Eyes Approval
28 Sep 2017 15 Nov 2017
§ Interface to TR (Regis)§ GUI file upload§ Validation rules
§ Additional audit trail events§ Pre-trade transparency
waiver§ Audit trail search§ User audit trail§ Assisted reporting
Art. 58§ On venue position reporting for EUREX,
EEX, Powernext (Art 58 III)§ OTC position reporting to BaFin, AMF, FCA
(Art. 58 II)
EMIR 2§ GUI collateral tab
Nov 2017Oct 2017Jul 2017 Jan 2018
Release 1 Feb – 15 Nov 17
Release 1.0
Deutsche Börse Group 5
Go-live EMIR 2
Go-live MiFID II
28 Oct 2017 3 Jan 2018
Customer and operational readiness
Phased customer production onboarding (technical connectivity; ping test)
30 Sep31 Aug 31 Oct 31 Dec30 Nov
Regulatory services internal processes ready
Ops readiness Checklists EMIR/ MiFIR agreed
Transparency on all existing hurdles
Readiness EMIR declared
Readiness MiFIR declared
OLAs defined
Tim
elin
e
Set-up NCA connectivity§ Phased approach focused on top 4 NCAs (BaFin, FCA, AMF,
FSMA)
§ Challenges:§ Number of NCAs (at least 25)§ High level of uncertainty on NCA-side and partially un-
readiness of several smaller NCAs§ Various communication protocols (SFTP, Webservice,
FTPS) and data formats
Ope
ratio
nal r
eadi
ness
Cus
tom
er re
adin
ess
Deutsche Börse Group 6
Internet (VPN)
Internet
Leased line (VPN)
Leased line
Internet
Technical connectivity matrix (1/2)Approved Reporting Menchanism (ARM)
Deutsche Börse Group 7
MiF
ID II
tran
sact
ion
repo
rting
(A
ppro
ved
Rep
ortin
gM
echa
nism
) Web GUI
SFTP
MQ server
CertificateGenerated and downloaded via RRH Member Section; uploaded in the browser
SSH key pairCreated by customer and public key send to [email protected]
MQ service engineered and provided by company NTT data
Interface Connectivity Set-up
SFTP LimitationsMax. number of files / day: 50Max. number of records / file: 300.000Max. size / file: 300 Mb
Leased line (VPN)
Internet (VPN)
Leased line
Leased line
Internet
Internet
Internet
Technical connectivity matrix (2/2)Approved Publication Arrangement (APA)
Deutsche Börse Group 8
RRH channel with FIX sessions Ordered via RRH Member Section
CRE key pairCreation and upload as usual CRE set-up
MQ service engineered and provided by company NTT data
Interface Connectivity Set-up
MiF
ID II
OTC
trad
e re
porti
ng(A
ppro
ved
Publ
icat
ion
Arra
ngem
ent) Certificate
Generated and downloaded via RRH Member Section; uploaded in the browser
Web GUI
MQ server
CRE
FIX Gateway
Connectivity set-up (1/2)
§ Customer onboarding [email protected]
§ Central coordinator assigns RRH rights for otherRRH users / admins
§ Certificate generation and download (section RRH Administration > User)
− User Manual RRH Member Section; Version 1.0
§ Customer uploads the private part of the certificate (.p12) into his browser
§ Login with the same password as for RRH Member Section
RRH Member Sectionhttps://member.regulatoryreportinghub.com
Web GUIhttps://simu.regulatoryreportinghub.com
Deutsche Börse Group 9
Connectivity set-up (2/2)
§ Customer generates SSH key pair§ Sends public key to Regulatory
Reporting Relationship Manager
§ Customer orders RRH channel (offered bandwidth: 1, 3, 5, or 10 Mbps)§ FIX session ordered via Member
Section (created under RRH member ID!)§ Supported formats: 4.2 and 4.4
SFTP FIX Gateway
MQ server§ Connectivity provided by NTT data
Deutsche Börse Group 10
Deutsche Börse Group 11
Thank you for your attention.ContactE-Mail [email protected] (Functional help)
[email protected] (Technical help)Phone +49 (0) 69 -2 11 -1 77 55 (DE)
+44 (0) 20 -7 86 -2 77 55 (UK)