Common Errors In MAS Reporting

TRAction’s reporting services include data validation and data enrichment to identify and resolve errors, as well as ensure the format meets requirements prior to Trade Repository (TR) submission.

We have identified the most common errors TRAction sees in MAS OTC derivative trade reporting and provide steps for how to rectify (or avoid) each one. We also encourage MAS firms to review errors that ASIC regulated clients, face as these are also applicable – see our article here.

1. The Valuation message cannot be linked with different Counterparty 2 (previously these fields were known as ‘Party2’ values) on the Existing Trades

This error message indicates that the Valuation message submitted does not match the Counterparty 2 information already associated with the Existing Trade in the TR. This is typically returned as a rejection by the TR upon Valuation message submission.