Report Tracking Number (RTN)
European Union Electricity Market Glossary

 


 

 

The Report Tracking Number (RTN) under the EMIR reporting format is a unique number assigned to the execution and common among a group of reports related to the same execution. 

 

The Report Tracking Number has been implemented as from 1 November 2017 by the Commission Implementing Regulation (EU) 2017/105 of 19 October 2016 amending Implementing Regulation (EU) No 1247/2012 laying down implementing technical standards with regard to the format and frequency of trade reports to trade repositories according to Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories.

 

The respective field is Field 13 in the Table 2 in Annex to the said Regulation.

 

RTN is a mandatory field for action type ‘P’ at the trade level. 

 

The RTN‘s predecessor in the EMIR reporting scheme was the Transaction Reference Number (TRN), which is in parallel applied under the MiFID reporting scheme.

 

The reasons for the replacement of the Transaction Reference Number (TRN) in EMIR reports with the Report Tracking Numbers have been explained by the ESMA in the Consultation Document, Review of the technical standards on reporting under Article 9 of EMIR of 10 November 2014 (ESMA/2014/1352), where ESMA said:

 

"The current Table 2 Field 9 "Transaction Reference Numbers" was intended to mirror the equivalent field in a transaction report created according to Article 25 MiFID. As this logic has been amended further to ESMA clarification of ETDs reporting, it now conflicts with the concept of Transaction Reference Number within MiFID transaction reporting. For the avoidance of confusion and in order to better reflect the purpose of this field, it is proposed to rename the field to "Report Tracking Number" while maintaining its population logic, i.e. unique code assigned to the execution and common among a group of reports related to the same execution."

 

ESMA Q&As on EMIR provide the following directives for the RTN’s use in the EMIR reporting framework:

 

- in order to ensure uniqueness across reports relating to the same execution, the RTN should be based on a unique code assigned to this execution;

 

- the generation of the RTN should have its origin in a centralised infrastructure (e.g. the trading venue or the CCP);

 

- the RTN should be by default the execution code assigned by the trading venue (in case this is not feasible or available due to the market model, a code generated at the clearing level by the CCP can be used);

 

- the reporting counterparties are expected to obtain the Report Tracking Number from the trading or clearing confirmations that they receive from the investment firm or from the clearing member or CCP;

 

- the reporting counterparties are also expected to transmit the RTN to their counterparties to allow them to fulfil their reporting obligations.

 

Approaches to RTNs’ reporting in different trading scenarios also differentiated (see table in the box below).

 

 

 

ETDs Reporting Question 5 (amended version applying as from 1 November 2017)

 

How Trade IDs and Report Tracking Number (RTN) should be assigned?

 

ETDs Reporting Answer 5

 

The Report Tracking Number (Table 2 Field 13) is a unique number assigned to the execution and common among a group of reports related to the same execution.

 

It is a mandatory field for action type ‘P’ at the trade level. In order to ensure uniqueness across reports relating to the same execution, the RTN should be based on a unique code assigned to this execution.

 

The generation of the RTN should have its origin in a centralised infrastructure (e.g. the trading venue or the CCP).

 

The tracking number should be by default the execution code assigned by the trading venue. In case this is not feasible or available due to the market model, a code generated at the clearing level by the CCP can be used.

 

The reporting counterparties are expected to obtain that tracking number from the trading or clearing confirmations that they receive from the investment firm or from the clearing member or CCP.

 

They are also expected to transmit the tracking number to their counterparties to allow them to fulfil their reporting obligations.

 

A non-exhaustive list of trading/clearing cases and how the RTN should be populated is the following.

 

  Scenario 

 

 Approach to reporting RTN 

 

There is a one-to-one relationship between the reports (e.g. one execution for a single client cleared through a single clearing member).

 

The RTN is a single code to be used in all the reports listed in the scenarios above.

 

 

There is a one-to-n relationship, (e.g. a single execution is allocated to n clients who clear either through one or several clearing members).

 

The same TRN will be used for all n clients and for all the reports listed in the scenarios above.

 

There is a n-to-one relationship (e.g. several executions at a trading venue are aggregated at an average price for a single client who clears through one clearing member).

 

A code relating to any of the several executions which are subsequently aggregated shall be used. It is suggested to use the code of the last of the executions that were aggregated. 

 

 

 

 

 

 

 

 

 

IMG 0744

    Documentation    

 

 

 

 

Commission Delegated Regulation (EU) No 148/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC deriva­tives, central counterparties and trade repositories with regard to regulatory technical standards on the minimum details of the data to be reported to trade repositories

 

Commission Implementing Regulation No 1247/2012 of 19 December 2012 laying down implementing technical standards with regard to the format and frequency of trade reports to trade repositories

 

Commission Implementing Regulation (EU) 2017/105 of 19 October 2016 amending Implementing Regulation (EU) No 1247/2012 laying down implementing technical standards with regard to the format and frequency of trade reports to trade repositories according to Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories

 

ESMA EMIR Q&As

 

Consultation Document, Review of the technical standards on reporting under Article 9 of EMIR of 10 November 2014, ESMA/2014/1352

 

ESMA's Final Report Review of the Regulatory and Implementing Technical Standards on reporting under Article 9 of EMIR of 13 November 2015, ESMA/2015/1645

 

 

 

 

 

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    Links    

 

 

 

 

UTI - Trade ID for EMIR derivatives reporting purposes

 

 

 

 

 

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Last Updated on Tuesday, 26 September 2017 20:38
 

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