How will Aii Transactions be validated?
As mentioned above, the Aii will be composed of six elements (MIC code; Exchange Product Code; derivative type; put/cal identifier; expiry/delivery/prompt date; strike price). Our system will validate the combination of the components of the Aii (except for the strike price) against its reference data. This means that we will be checking whether the components of the Aii are a valid combination. If the combination of the five fields is incorrect this will result in an error. The ARMs have no obligation to validate for the combination of the Aii fields; it is up to them to decide whether they want to mirror the FSA validation. This means that even if your ARM accepts your Aii transaction, we might still reject it.
Related Questions
- Can firms that have been voluntarily reporting Aii transactions as OTC derivative transactions continue to do so following the Zen implementation soft go-live date?
- How do we transaction report cancellations and updates to transactions that have been sent to ARMs in Aii format before Aii implementation?
- How will Aii Transactions be validated?
