Tradeweb APA Bug Mires Mifir Reporting

Reporting platform began rejecting trade reports due to mismatched identifiers, banks say.

Trading stock data

Tradeweb’s Approved Publication Arrangement (APA), which is backed by a number of major banks, refused key aspects of trade reports from several clients until late yesterday afternoon, according to sources. The problem stemmed from the APA rejecting elements of non-equity trade reports where the International Securities Identification Number (ISIN) attached to the submission did not match those held in Tradeweb’s systems, WatersTechnology understands.

Under the Markets in Financial Instruments

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A rough race begins: Industry faces uphill transition to T+1 settlement

With T+1 compliance set to begin next May, firms will likely be burdened by reduced IT budgets, existing legacy systems and manual processes over the next 15 months. So, while faster settlement will help innovate the middle and back office, some argue industry needs a longer timeline.

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