What are the types of errors my firm may encounter?
The main errors detected by the FSA on transaction reports coming from TRS are outlined below: CON 101 – Mandatory field is missing This error is very common amongst firms using the instrument identification type ‘O’ for Other. As mentioned in the Data Reference Guide (version 6) as well as in Market Watch No.31, the attribute type O must NOT be used. Where the subject of a transaction is a financial instrument admitted to trading on a regulated market or prescribed market where the ISIN is the industry method of identification, the instrument identification code must contain the valid ISIN and the instrument identification code type must be ‘I’. Where the subject of a transaction is a derivative admitted to trading on regulated market where the ISIN is not the industry method of identification, the transaction is currently not reportable to the FSA. These derivatives will become reportable to the FSA with the Implementation of the Alternative Instrument Identifier (AII). To find out m
