Reporting release 16 August 2019 – 18/2019

The FIN-FSA has specified the technical guidance on the reporting of settlement internalisation | ESMA

Under point (11) of Article 2(1) of Regulation (EU) No 909/2014, settlement internaliser means any institution, including one authorised in accordance with Directive 2013/36/EU or with Directive 2014/65/EU, which executes transfer orders on behalf of clients or on its own account other than through a securities settlement system.

The FIN-FSA has made some specifications to the description of electronic reporting concerning the reporting on internalised settlement [linkki kuvaukseen]. The FIN-FSA will begin to collect detailed data on internalised settlement from the reporting entities on 1 October 2019, with data for the reference period Q3 2019.

The FIN-FSA will test the data collection in the period 26–30 August 2019. The purpose of the test is to ensure that the reporting entities are duly prepared for the submission of data on internalised settlement to the FIN-FSA.

Important considerations before the testing:

  • Reporting entities need collect reference period data by themselves, without the data collection system
  • The structure and content of the report must follow the published schema (see the related XML files)
  • The data may be genuine or artificial data
    • Genuine data is preferable
  • The data, created according to the data descriptions, is submitted to the FIN-FSA as a compressed (.zip) and encrypted email file, according to a normal reporting process
  • The FIN-FSA intends to incorporate the existing validation rules to the test before the commencement of the test.
  • Reporting agents may also test the submission of data after the test period, but only before 1 October 2019, i.e. the submission of production data for the reference period Q3 2019.

For further information, please contact: STTHelpdesk(at)