Cesarz_RefiT

Cesarz_RefiT – transaction reporting system for banks and other financial institutions, valuations and collateral to trade repositories in accordance with the EMIR Regulation, taking into account changes resulting from EMIR REFIT.

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Important dates for the reporting implementation project:

All legal acts, which are the basis for reporting according to EMIR Refit, have already been published: the EMIR REFIT Regulation (amending EMIR), EMIR REFIT implementing acts, ESMA Guidelines and the Validation Table
04-2023 – access to technical documentation at the NDS
06-2023 – ANNA DSB will release final report on UPI
08-2023 – ANNA DSB onboarding of participants and 11-2023. – ANNA DSB access to production environment
11-2023 – access to test environment at NDSB
29-04-2024 – application of new RTS taking into account 18-month implementation period
26-10-2024 – end of 180-day transition period, for “catch-up” of unmatured transactions
04-2026 – second phase of implementation of more detailed agreement with the other side of the transaction (87 fields at once and 61 fields after two years)

Cesarz_RefiT supports the changes:

new ISO XML file format
separate messages for security reporting and security adjustments
new RLT message – delegated reporting
7 end-of-day reports
72 completely new fields and 67 amended fields (additional counterparty data, risk indicators, settlement thresholds)
reporting of transaction lifecycle events Action and Event Types
new product identifier: UPI for which ANNA DSB will be the operator
new UTI generation scheme
reconciliation with the other side of a transaction back to 30 days
“catch-up” in the new format of all uncommitted transactions, within 180 days.
supports additional substantive validations, resulting from EMIR REFIT requirements and UKNF’s increased emphasis on the substantive accuracy of reported data (i.e. reports successfully accepted into the trade repository but containing inconsistent or factually incorrect information)

Selected system attributes:

automatic online linking to the repository
full participation, valuation reporting and collateral handling
full logging of incoming and outgoing events and transactions
support for transaction reporting on behalf of the counterparty/customer, including change of their data
handling of different data sources

Unique features of Cesarz_RefiT:

reporting process control panel with graphical presentation of reporting progress optimising the user’s working time during the session with the application
a health-check function allowing the user to self-assess via the GUI the technical state of the system and its connections to the source system, the repository and the ANNA DSB service
analytical functions allowing the user to self-assess via the GUI the quality trends of the reporting process – e.g. benchmarks for the most frequent types of errors returned by the repository
proprietary solution to facilitate reconciliation with the other side of the transaction
proprietary solution to facilitate access to ANNA DSB for UPI code handling
separation of transactional data of users from different organisational units – the ‘Chinese walls principle’
possibility to create and edit a transaction based on the data of another transaction
automatic identification of errors in transaction data based on validation criteria of ESMA, NDS and recommendation of necessary corrections