1. EMIR strategy
OTC Lite solution
Introduction and Overview

2. DTCC GTR EMIR Reporting
Section A –Solution Introduction
Overview of solution
What the solution offers
Section B – Onboarding and Access
Onboarding
Global ID
Website
Section C – Message Template
Understanding the template
Section D – Participant Reports
ACK/NACK Reports
EMIR Position Report and Activity Reports
Warning Report
ESMA Match Status Report
ESMA UTI Conflict or Pair LEI Break Report
Section E – Support for the OTCLite solution
Overview of message template
Other useful information

3. Section A: Solution Introduction Overview of OTC Lite solution
Simple input route for ESMA OTC reporting
Singular data processing centre within Europe
Netherlands data centre will be primary entry of data for ESMA reported transactions
Back-up data centre in Singapore for use in recovery situations
Simplified input options
CSV spreadsheet upload over internet or csv spreadsheet via sFTP only
Smaller template just for ESMA reporting
Simple workflow and submission types
Concise suite of participant reports
Asset Class Coverage
Commodities, Credit, Equities, Rates and FX
All on a single template (and can be mixed on a single submission)
Reporting Methods
Supports Independent reporting (where you provide the trade details and details about you, but leaves your counterparty to report their details separately)
Supports Delegated reporting (where you report on behalf of you and your counterparty, providing all required details on a single submission)

4. Section A: Solution Introduction What the solution offers
Category
Functionality
Difference from core solution
Purpose
Provides input for ESMA Annex table fields and GTR Control fields
Cannot support multi-jurisdictional messages
Jurisdictions supported - ESMA only
Portfolio reconciliation is not possible as the template is a limited set of fields
Connectivity
Connectivity - Direct submission to EU data center
Cannot submit to US Data Center
Submission
File format - CSV file format only
No FpML on inbound or outbound
Submission methods - Web upload and sFTP
No MQ, NDM or web services
Only Position message type supported (similar to Snapshot Trade in Core service)
No RT, PET, Confirm or combination message types supported
All submission of lifecycle events using snapshot method
Partial delegation or short-form snapshot not offered (for day 1)
Full delegation or independent reporting capability offered
No ability to allow a short message for Counterparty Data only (full message is required)
 Valuation & Collateral message types (future phase)
No Position building
Reporting
ACK and Nack Report (2 separate file output reports)
No Warning Message (no WACK)
Warning Report
No Counterparty Acknowledgements (only ACK / NACK to the submitter of the message)
ESMA Activity Report (new report)
No link between OTC Lite and OTC Core Submissions (with exception of new reports)
ESMA Position Report (new report)
Full suite of Core reports not available
ESMA Match Status Report (new report)
ESMA UTI Conflict or Pair LEI Break Report (new report)
Aggregate Public Reporting
Aggregate output of Reports to ESMA
Inter and Intra TR Reconciliation
Onboarding
Onboarding via internet
Full onboarding through GTR Onboarding (new O-Code)

5. Section B: Onboarding And Access
In order to use the DTCC OTCLite application you will need to be “on-boarded” to the DTCC GTR
If you already use another DTCC or GTR service then that on-boarded processes is streamlined, but we still need additional information from you in order to set you up to access OTCLite
The on-boarding process can provide you access to both production and UAT environments
The GTR On-boarding team can be reached: By
By phone: +44 (0) (option 2 and 2)
On-boarding documents and guides can be found on the OTCLite website
When on-boarded you will be provided with an Account Number
This is the account for the legal entity being on-boarded, and a number of different DTCC products can then be added to that account
Once you have an account our team at DTCC will provide you with an OCODE for each of the products you want included on your account
OTCLite is an example of a product that can be added to your account and will have a separate OCODE (usually a 4 digit number starting with the number 8)
Other products (such as our core application for FX for an example) would have a different OCODE
During the onboarding process one or more people at your organisation will be set up as a Super Access Coordinator (SAC)
Those SACs control how others within your organisation access the various products on your account
A step-by-step guide for SACs can be found on the DerivSERV website
One of the tasks that a SAC can do is provide each user within their firm with a GLOBALID
That global id is essential for the user to be able to access the European Portal – the website which will be used to make csv submissions and access the OTCLite reports
The EU Portal can be found at
In order to use OTCLite you will need (1) an account, (2) an OTCLite OCODE and (3) a GLOBALID

6. Section C: Message Template Understanding the Template
The OTCLite template is a csv (comma separates values) spreadsheet
Up to date version published on the OTCLite website (
Message template includes 156 fields in total-
25 fields are related to GTR control fields (required for GTR to be able to understand and process the message)
131 fields relate specifically to ESMA required fields
The 131 ESMA related fields include fields that are only needed for delegated reporting
Will support 3 message types
Position – available on initial release- report the position for a contract each day representing the latest position data. Valuation – to be included in later release
Collateral – to be included in later release
Field Types
Required– A valid value must be provided in this field in order for the submission to be successfully processed and receive an ACK. Required fields missing valid values will be rejected by the application
Optional – This field may be left blank and still have your submission processed by the application and receive an ACK, but may not be fully compliant with EMSA expectations
Conditional – A value is expected in these fields dependent upon values provided in other fields
Example: “Currency of option strike price” is only required if a value is reported in the optional field “Option Strike Price”
N/A – no values are expected to be provided in these fields, and if any value is provided it will be ignored by the application
Generally used for “placeholder” field that may be utilised in later releases
Reporting parties have the obligation to ensure all required ESMA data has been reported.
Some optional fields are required to be reported to ESMA but based on the scenario the reporting party may not have all the information at the time (example: Where reporting on behalf of a counterparty the reporting party may not have information to populate “Directly linked to commercial activity or treasury financing Party 1” where the counterparty is a non-financial entity)

7. Section C: Message Template Understanding the Template: Lifecycle Events
Position Message
The lifecycle events on each position would also be reported using this message type and for each updated position message firms must report the resulting position from the lifecycle event
Example: New trade for USD 150m, followed by a partial termination of USD 50m the following day
Step 1
Step 2
Step 2 reports the position of the transaction after the post trade event: what is left of the trade

8. Section C: Message Template Understanding the Template: Field Types
Extract only from the template to demonstrate various field types and information
An additional webinar will cover the template in detail, the intention on this presentation is to introduce you to how to read the
template only

9. Section D: Participant Reports ACK/NACK Reports
ACK and NACK Reports
Each time you submit a file of positions to the OTCLite service you will be provided with a Batch Number
That batch number can be seen on the OTCLite dashboard page
Shortly after submission an ACK and a separate NACK report is available just for that batch, and can be accessed via the Download button shown above
Note that there will be two files, one for ACKs (trades processed successfully) and another for NACKs (trades rejected by the application). If one report is empty please ensure you check the other report to see the trade details
If the file has not yet processed then the report will show that processing is still under way
The NACK report will contain error codes and descriptions which aim to provide guidance on the reason for the rejections

10. Section D: Participant Reports End of Day Reports
For OTCLite there are a number of end of day reports that are produced.
The process that generates these reports starts at midnight UCT each business day (report availability time will differ from day to day depending on volumes)
ESMA Position Report
This report will reflect all open (i.e. “live”) positions for the participant, regardless of whether submitted by the participant or by another participant that names them as the counterparty on their submission.
All live position will be included regardless of when they were submitted (so a position submitted a year ago will appear on the position report every day until maturity or until it is terminated by a subsequent submission)
It will also include positions created by OTCLite submissions and submissions into the GTR Core application
Trades that mature automatically drop from this report after maturity
If you and your counterparty have reported the trade then there will be a line for each
This allows each participant to perform their own reconciliation and resubmit where there may be errors.
ESMA Activity Report
This report will reflect all submission activity since the last activity report was generated.
Submissions made by you, on your behalf by a third party provider and submissions made by other participants naming you as a counterparty will be included.
If a single trade has multiple submissions made during that day then each submission will appear on the activity report
ESMA Warning Report
As noted earlier, some fields are marked as optional on the OTCLite template as they will not always apply to a given production, or may not be known at the tie of submission, but should still be submitted for a fully ESMA compliant message
This report aims to highlight live positions that may not include all information needed to be EMSA compliant
These trades are still reported to ESMA, but DTCC recommends for participants to review this report and make additional submissions to include the missing data for a fully compliant position to be reported.
More detailed descriptions of these reports, including field descriptions can be found in the OTCLite user guide on the website

11. Section D: Participant Reports End of Day Reports: New reports
ESMA Match Status Report
The new Matching Status report will provide participants with a breakdown of differences between the reported trades’ common data to facilitate them in investigating and resolving breaks.  
The Matching Status report will detail the list of unmatched fields but only the field name and not the field content on either side of the position.
ESMA UTI Conflict or Pair LEI Break Report
This is a new report provided to a counterparty of the Transaction based on results of the Inter-TR reconciliation. An additional report should also contain details of any UTI Conflicts or Pair Break LEI’s recorded to inform participants and submitters of specific problems.

12. Section E: Client Support
Dedicated OTCLite webpage (
Includes recorded presentations, user guide, connectivity guide, up to date template and a schedule of online demonstrations
Dedicated UAT Support team
Support available in multiple European languages
support for testing:
for production:
Hotline support:
Europe/UK/Asia: +44 (0) (Options 1,3)
North America:
Sending Queries
Useful to always include the following information
Your account number
Your Batch ID
Your csv submission file
O-code

13. Disclaimer
The content, information and any materials (“data”) provided by DTCC Deriv/SERV LLC (Deriv/SERV) and/or its affiliated companies or subsidiaries in this presentation is on an “as is” basis. Deriv/SERV expressly disclaims all warranties, expressed or implied, as to the accuracy of any data provided, including, without limitation, liability for quality, performance and fitness for a particular purpose arising out of the use of the data.
Deriv/SERV shall not have any liability, duty or obligation for or relating to the data contained herein, any errors, inaccuracies, omissions or delays in the data, or for any actions taken in reliance thereon. In no event shall Deriv/SERV be liable for damages, including, without limitation, damages resulting from lost data or information or lost profits or revenue, the costs of recovering such data, the costs of substitute data, claims by third parties of for other similar costs, or any special, incidental, or consequential damages, arising out of the use of the data.
Any unauthorized use, including but not limited to copying, distributing, transmitting or otherwise of any data appearing herein may violate the intellectual property rights of Deriv/SERV under any intellectual property laws such as copyright laws, trademark laws and communications, regulations and statutes.