GTR CFTC/Canada/SEC (NoA) Validation Overview

Message Validation is the process where messages are submitted to the GTR service for validation.

Validation Stages

1. Permission Validation (Authority to Submit)
2. Core Validation (Logic and Completeness)
3. Jurisdictional Validation (Regulatory Validations)

Validation Principles

• NACKs: A validation failure at any stage of the process generates a NACK (Negative Acknowledgment) message.
• ACKs:
  • Passing validation generates an ACK (Acknowledgment) message.
  • All messages must generate an ACK for the data to be captured in the GTR service.

Validation Concepts

• Ingestion Validation
• Message Sequencing
• Uniqueness of a Trade
• Submitted for Party and Reporting Destination
• Action Types and Event Type Validations
• Resolving NACKS