FAQ

General
Questions

Yes, it’s a part of the standard Oktris FIRDS service in addition to ESMA FIRDS.

Very little – Oktris is adding FCA FIRDS to the existing ESMA FIRDS service, with no additional fees. We’ve also kept the FIX API identical – firms can point their existing FIX sessions at either the present ESMA FIRDS, or to the FCA FIRDS service (or to both). Connection details for FCA FIRDS have already been provided to your designated e-mail contacts.

It’s ready today and clients can connect today, though there is presently no data as the FCA has not commenced publishing data yet.

Yes, including provision of FCA FIRDS, and also much of the required MDP reporting obligations. However, some reports, such as Transaction Reports, can only be submitted by certain types of investment firm, or a registered ARM.

For instruments admitted to trading on your venue/SI that day – In the case of an existing FIRDS instrument, only the ISIN of instruments and in the case of a new OTC derivative created by you on Anna-DSB, the Anna-DSB JSON file for each instrument.

For instruments admitted to trading on your venue that day – the quantities traded that day, plus the instrument identifiers: In the case of an existing FIRDS instrument, only the ISIN of instruments and in the case of a new OTC derivative created by you on Anna-DSB, the Anna-DSB JSON file for each instrument.

Not all firms have the requirement to produce the full set of reports, and so it depends on which need to be generated, and what data the investment firm has to hand. At a minimum, trade data, with order data where available. RTS 27 additionally and where applicable, requires information on fees, rebates, non monetary benefits, taxes, outages, auctions and information on the trading systems.

Oktris services are provided using the Software as a Service (SaaS) model, whereby all applications are hosted by Oktris in the cloud, and made available to clients over the Internet using a dedicated and secure login.

There are a number of methods. Generally, Oktris will require some raw data – this can be provided in the form of files containing basic information such as ISINs or where orders and trades are required, these can optionally be sent via FIX instead of files. Firms then need to get data out – the status of report submissions or actual reports which can be retrieved via secure SFTP. Instrument reference data can be obtained by directly querying a database or via FIX.

Generally none. They are delivered using SaaS, and live in the cloud. An Internet connection is required to be able to interact with the services using standard tools such as an SFTP client for file transfer, or a web browser to use the web portal. Some customers may wish to interface directly via FIX for provision of trade and order data, or to retrieve instrument reference data – such firms will require a FIX capability.

Most of it is, yes. For those components sensitive to performance (complex queries on the 20m + record FIRDS database for example), these run on dedicated hardware per client.

You don’t. It’s in the cloud – the systems are hosted and maintained by Oktris. Once Oktris updates the systems, you automatically have access to the latest and greatest with no additional effort on your side. Should something fundamentally change (for example, a new ESMA directive requiring new source input data from you), your account manager will inform you of this in good time.

Pre-sale
Questions

Not at this time, no. Though on the product roadmap is a solution allowing Trading Venues to produce and publish these without using an APA. As with all things on the roadmap, if there is client interest, it becomes a higher priority to develop.

Not at this time, no. It is on the Oktris product roadmap.

Not at this time, no. It is on the Oktris product roadmap.

Yes – strictly subject to availability of resources. Please enquire and let’s see if we can help.

No, but depending on consumer demand, Oktris may go down this route. For now the aim is to provide reporting solutions that firms can use to generate and submit reports directly to the regulator.

Not at this time, no. Though on the product map is an MDP transaction reporting solution to allow trading venues to submit transaction reports directly to their NCA without using an ARM. As with all things on the roadmap, if there is client interest, it becomes a higher priority to develop.