Utilising our multi-dimensional testing methodology, accuracy testing fully assesses the quality of data reported to the regulator 

  • Checks all reported data fields for accuracy, validity and timeliness
  • Delivers full visibility of reporting quality
  • Identifies over-reporting
  • All reported records are tested for MiFID II reporting
  • All open positions are tested for EMIR trade reporting
  • Easily accommodates high volumes and tailored to each firm’s activities.

What do you get?

  • Regular accuracy testing across all records at a frequency suited to your business — usually monthly or quarterly but depends on trading volumes
  • Full test results within six weeks including detailed management information
  • Full details of reporting records in error to simplify the back-reporting process.

Find out more in our Accuracy Testing product sheet.

Our end-to-end reconciliation service tests for the completeness of reporting

  • Independently applies the reporting criteria 
  • Identifies mismatches of data between a firm’s trading systems and what has been reported to the regulator
  • Pairing and matching
  • Includes reported and non-reported trades. 

What do you get?

  • Periodic end-to-end reconciliations at a frequency that you require (usually monthly or quarterly depending on trading volumes)
  • A summary reconciliation report following each run which includes detailed results including any errors
  • Fully quantified findings.

Find out more in our Advanced Reconciliation product sheet.

Often overlooked, incorrect reference data accounts for nearly half of all reporting errors. This service checks if the correct counterparty or client has been reported.

  • Executes a range of tests to counterparty and instrument reference data for both accuracy and completeness
  • Full population of reference data is tested for complete mappings to the appropriate identifiers
  • Assesses the use and allocation of internal identifiers
  • Normalises legal name and address
  • Real-time checking of Legal Entity Identifiers (LEI).

What do you get?

  • Summary management report on your data, detailing the risks identified and testing findings
  • Summary information on the shape of your reference data
  • A list of all findings by reference data record providing complete transparency and an audit trail
  • Proposed values for LEIs where these are missing from your data.

Find out more in our Reference Data Testing product sheet.

Together with data quality, a robust control framework is a key expectation of regulators

  • A full governance framework and suite of policy and guidelines documentation
  • Addresses control and governance issues identified in FCA fines for reporting
  • Tailored to your business’s internal arrangements and reporting policies
  • Designed by our CEO Dario Crispini, the former head of the FCA’s Transaction Monitoring Unit.

What do you get?

  • A reporting risk and accountability framework tailored to your organisation
  • All policy documentation
  • CPD-accredited training on reporting obligations delivered by our subject matter experts

Find out more in our Control Framework product sheet.

How does it work?

Accuracy, reference data testing and advanced reconciliations are delivered as a managed service with testing taking place quarterly or monthly depending on your trading volumes. We recommend our managed service for ongoing assurance and peace of mind however we can also deliver a one-off health check of your reporting.

The service is tailored to your business which is vital to achieve effective results.

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ReportShield™ can you help you reduce costs, improve quality and increase confidence in your regulatory reporting.

Contact us