We had planned to launch the enhanced system at the end of February, however further work is required to ensure the system will deliver the surveillance tool we need.
We recognise that the delay may cause issues for firms working to implement the new code and we are working very hard to get the system ready.
Please be aware that firms wishing to continue with their Aii implementation projects may submit their Aii transaction reporting flow to their Approved Reporting Mechanisms.
Testing facilities
- To facilitate this, we continue to provide testing facilities for firms to test with their Approved Reporting Mechanism (ARM). This enables firms to submit Aii records to their ARM.
- We intend to provide a data extract service only for the test data. This enables firms to reconcile accepted records against their original submissions.
Submitting Aii records in the live environment
- Should firms wish to implement the Aii changes to their live systems, the two ARMs that provide Aii services, TRS and Xtrakter, will accept and validate Aii records in their live production environments. However, these transaction reports will not be sent to the FSA but will be deleted by the ARM.
- Firms voluntarily reporting Aii transactions as OTC transactions can continue to do so (please see Market Watch No22 for further details).
A revised implementation timetable will be issued at a later date.
