News archive for 2017

As of January 2018, the requirements of the EU Directive on the markets for financial instruments (MiFID II) and the affiliated regulation (MiFIR) must be implemented by the market participants in production.

In the following, as announced in our news release from 05.12.2017, we would like to describe the query profiles for MiFID II / MiFIR and PRIIPs with the associated query costs:

• MiFID II - Reference data » query costs
• MiFID II - Target market » query costs
• MiFID II - Cost transparency » query costs
• Ongoing indicators (J) » query costs
• PRIIPs Reference data » query costs

In addition, the existing query profiles Stock exchanges & trading practices (X) and Issuer data (M) will be extended.

These query profiles will be available soon via WMACCESS Internet.
Update 18.12.2017: The new query profiles are now available.

MiFID II - Reference data

The query profile MiFID II - Reference data contains all relevant data for MiFID II and MiFIR. For example, the extension of the existing transparency regulations, the investor protection and the adjustment of the market infrastructure.
The data for target market classification and cost transparency are assigned to their own query profiles.

Show / hide complete list of included WM fields.

• GD193 Average daily turnover
• GD209A MiFID II/MiFIR capital class
• GD209B MiFID II/MiFIR asset class
• GD209C MiFID II/MiFIR asset class addition
• GD209E Pre-trade-relevance-MiFIR
• GD209F Post-trade-relevance-MiFIR
• GD209G Country of the most liquid market pursuant to regulation (EU) No. 600/2014
• GD209H Standard market size MiFID II
• GD209I MiFID II/MiFIR liquidity identifier
• GD209J Article 26 transaction reporting pursuant to MiFIR
• GD209K FIRDS identifier
• GD209L Transaction reporting direct/indirect identifier
• GD496K MiFID II complexity identifier
• GD496X Tick size as per MiFID II
• GD497B Instrument with an embedded derivative identifier
• GD662 Issuer country of origin
• GD663A Securities trading Act Sec. 9 reporting
• GD663B MiFID pre-trade relevance
• GD663C MiFID post-trade relevance
• GD663D WpHG Sec. 9 reporting on german unofficial markets
• GD664 Complexity identifier
• GD665 Country of most liquid market
• GD666 Standard market size
• GD668 Listing of funds on regulated markets
• GD684B Financial instrument short name (FISN) 2016
• GD689 ETF MiFID relevance
• GD703 Liquidity
• GD704 Fund special assets BIC/CIVIC
• GV1A8 Pre-trade-relevance-MiFIR / date valid from/to
• GV1A9 Post-trade-relevance-MiFIR / date valid from/to
• GV2A0 Article 26-transaction reporting as per MiFIR /date valid from/to
• GV356 WpHG Sec. 9 reporting / date valid from/to
• GV357 MiFID pre-trade relevance / date valid from/to
• GV358 MiFID post-trade relevance / date valid from/to
• GV359 WpHG sec. 9 reporting on german open markets / date valid from/to

Query costs:

For this query profile the query fee category T6 applies.

MiFID II - Target market

The rules in MiFID II require the manufacturer / issuer of financial instruments to define a target market for each instrument. This must be considered by the selling agency.

The query profile MiFID II - Target market covers all manufacturer data, as well as the information on the target market (Product Governance).

Show / hide complete list of included WM fields.

• GD496H Risk indicator
• GD496M Risk and yield profile
• GD496N Financial loss-bearing capacity
• GD496O Knowledge and experience
• GD496P Target market source identifier
• GD496Q Risk indicator (negative target market)
• GD496R Risk and yield profile (negative target market)
• GD496S Financial loss bearing capacity (negative target market)
• GD496T Knowledge and experience (negative target market)
• GD496Y Addendum to the special requirements
• GD496Z Product category on the basis of knowledge and experience
• GD497A Product approval process identifier
• GD497C Risk indicator computation method
• GV1A4 Customer category
• GV1A5 Investment objectives
• GV1A6 Investment horizon
• GV1C0 Distribution strategy
• GV1C1 Special requirements
• GV1C2 Customer category (negative target market)
• GV1C3 Investment objectives (negative target market)
• GV1C4 Investment horizon (negative target market)
• GV1C5 Distribution strategy (negative target market)
• GV1C6 Special requirements (negative target market)

Query costs:

For this query profile the query fee category T6 applies.

MiFID II - Cost transparency

In addition to the definition of the target market, the detailed disclosure of costs (ex ante and ex post) is one of the main innovations and challenges from the new requirements of the Financial Markets Directive and Regulation (MiFID II / MiFIR).
As a service provider of securities-related information, WM Datenservice will represent the costs arising from the instrument; which are independent of the respective financial service provider.
The Cost transparency data is divided into two categories / query profiles:

• Data with master data character (only current value, low change frequency) in the query profile MiFID II - Cost transparency
• Date-related data with complete history in the query profile Ongoing indicators (J)

Show / hide complete list of included WM fields.

• GD326 Performance fee identifier
• GD496U Fair value instrument
• GD496V Instrument with running costs (prod. with fair value)
• GD496W Swing-pricing identifier
• GV1C7 Estimated running costs per calendar year (prod. with fair value)
• GV1D0 Running fund costs (estimated)
• GV1D1 Transaction costs (fund)
• GV1D2 Event-related costs (fund)
• GV1D3 Actual redemption costs (fund)
• GV305 Minimum / maximum back-end load

Query costs:

For this query profile the query fee category T3 applies.

Ongoing indicators (J)

In the query profile Ongoing indicators (J), date-related data with complete history for cost transparency is displayed.
For licensing reasons, a query search allows a period of up to 31 days. To query a larger time frame, multiple search queries must be made.

Show / hide complete list of included WM fields.

• JV001 Entry costs (prod. with fair value)
• JV002 Exit costs (prod. with fair value)
• JV003 Running incremental costs per calendar year (prod. with fair value)
• JV004 Actual total costs of the fund
• JV005 Periodical total fund costs
• JV006 Delta/SET by using an end of day delta

Query costs:

For this query profile the query fee category T3 applies.

PRIIPs Reference data

With the come into effect of the PRIIPs Regulation at the beginning of January a greater transparency for the investor in purchasing Packaged Retail and Insurance-based Investment Products (PRIIPs) should be created. From this point, the corresponding Key Information Documents (KIDs) for each PRIIPs-relevant financial instrument must be prepared by the manufacturer and handed over to the customer in advance by the sales office.

The identification of PRIIPs relevant financial instruments with it´s relevant information such as, for e.g. the SRI (risk indicator), the available KID versions, the complexity indicator (or warning) and other master data are displayed under this profile.

Show / hide complete list of included WM fields.

• GV491 KID PRIIP versions
• GD496A PRIIPs identifier
• GD496B Source identifier
• GD496C Current KID (EU) PRIIPs regulation available; manufacturer
• GD496D Current KID (EU) PRIIP regulation available, EDH
• GD496E Type of KID provision
• GD496F Investor documents for funds available, manufacturer
• GD496G Investor documents for funds available, EDH
• GD496H Risk indicator
• GD496I KID PRIIP warning notes in current KID (complex product)
• GD497C Risk indicator computation method

Query costs:

For this query profile the query fee category T3 applies.

New fields in the existing query profile Stock exchanges & trading practices (X):

• XD022 ? Regulated market/MTF (as per MiFID) identifier
• XD026 Market segment/place MIC
• XD027 Market place time shift vs. UTC
• XD209 Market ID pursuant to MiFID II
• XD209A SME growth market ID

New field in the existing query profile Issuer data (M):

• MD503 Bank identifier code (BIC)

We are very pleased to announce that at the beginning of 2018 the data spectrum of WMACCESS Internet regulatory data will increase significantly. In cooperation with WM Datenservice, we will be able to provide data on the MiFID II / MiFIR and PRIIPs regulations.

In this context, we would like to thank all participants of our survey from spring 2017 for the insightful feedback on these topics.

Scope of MiFID II / MiFIR data offer

MiFID II / MiFIR contains the following topics:

• Target market classifications
• Cost transparency
• Classification of financial instruments
• Identification of leverage products
• Tick size as per MiFID II
• Product Approval Procedure Identifier
• Complexity identifier
• Classification of pre-/ post-trade relevance
• Article 26 transaction reporting as per MiFIR
• Transaction reporting direct/ indirect identifier
• Standard market size identification
• Market liquidity and financial instruments classification
• Markets classification
• Instrument with an embedded derivative identifier
• FIRDS (Financial Instruments Reference Data System) identifier / ESMA identifier

Scope of PRIIPs data offer

The PRIIPs data include the following WM fields:

• GD496A PRIIPs identifier
• GD496B Source identifier
• GD496C Current KID (EU) PRIIPs regulation available, manufacturer
• GD496D Current KID (EU) PRIIPs regulation available, EDH
• GD496E Type of KID provision
• GD496F Investor documents for funds available, manufacturer
• GD496G Investor documents for funds available, EDH
• GD496H Risk indicator
• GD496I KID PRIIP warning notes in current KID (complex product)
• GV491 KID PRIIP versions

Query profiles and query costs

The WM fields for MiFID II / MiFIR and PRIIPs will be mostly available in new query profiles, a few will be integrated into our existing query profiles for Issuer data or Stock exchanges & trading practices. The final design of the new query profiles as well as the query fee category will take a few more days. We will amend this information as soon as possible here or in an extra news.

Today, the announced merge of the wmView and wmProfile query profiles has been done.

At the same time, the query profile "Risk management II / AIF" was renamed into "Fund Classifications / AIF".

Soon the query profiles from wmView and wmProfile will be merged in the profile selection box. From now on, you can access the various search masks more easily and conveniently.

Did you already know...?

For licensing reasons, some GD/GV fields are not included in the detail display for the work area (G) master data in wmView.
Instead, such WM data fields are often integrated exclusively in the wmProfile query profile of Investment Fund Characteristics or Fund Classifications / AIF (previously Risk management II / AIF).

The Fund Classifications / AIF query profile contains data for the classification of investment funds according to AIFMD and for the reform of investment taxation 2018. For example, the WM fields:

• GD504D Applicable tax procedure as of 1 January 2018
• GD504K Investment funds with partial tax exemption as per section 20 of the investment tax law
• GV1D7 Rate of the tax free income as per fund type and investor group as per section 20 of the investment tax law, historical classification

On October 23, 2017 the 84. WM Release will become effective. We would like to inform you about some upcoming alterations beforehand and corresponding impacts in WMACCESS.

New field in the query profile Income data (E)

• ED156 Domestic income with investment income tax deduction by the custodian of the investment fund

New fields in the query profile Securities master data (G)

• GD260B Issuer's security short description
• GD189L Contract type 871(m)
• GD432B FSMA registered fund
• GD432C Belgian stock exchange tax (TOB) in percent
• GD505G Identification of instruments not subject to marginal number 59 of the BMF letter individual questions on the final withholding tax

New fields in query profile Risk management II / AIF

Note: The name of this query profile is expected to be renamed by us into Fund Classifications / AIFMD (AIF).

• GD504R Equity participation rate in percent
• GD504S Real estate minimum rate in percent
• GD505H Identification of instruments which result in income subject to corporation tax in the case of investment funds as per section 6 (3)-(5) of the investment tax act
• GD505J Capital claims with issuing yield
• GV1D7 Rate of the tax free income as per fund type and investor group as per section 20 of the investment tax law, historical classification
• GV1D8 Issue yield as per section 38(3) of the investment tax law
• GV1D9 Investment fund status confirmation with reference number and tax number as per section 7 (3) of the investment tax law

New fields in the query profile Investment Funds Prices (I)

• ID930 Profits subject to a double taxation agreement as per section 48 (5) of the investment tax law for special funds
• ID931 Fund capital gains from shares as per section 48(3) of the investment tax law for special investment funds
• ID932 Profits subject to a partial tax exemption in respect of business assets (income tax act) as per section 48 (6) of the investment tax law for special investment funds
• ID933 Profits subject to a partial tax exemption in respect of business assets (corporate tax act) as per section 48 (6) of the investment tax law for special investment funds
• ID934 Profits subject to a partial tax exemption in respect of private assets including life and health insurances as per section 48(6) of the investment tax law for special investment funds
• ID935 Equity participation rate in percent
• ID936 Share in the total fund assets in percent
• ID937 Real estate rate in percent

New fields in the query profile Capital measures (K)

• KD028A Over subscription identifier
• KD032A Payable date record date

New fields in the query profile Conversion (U)

• UD027A Payable date record date
• UD193B Durable medium effective date
• UV242 Compensation/payment amount

Depending on further regulatory developments another data field on the topic of US IRC Section 871(m) could be added by WM Datenservice to the 84th WM Release as part of the new Section J - Ongoing indicators.
For this purpose, we will set up a separate query profile in WMACCESS. Due to the proximity to securities master data, a query in this new query profile is classified into the query fee category T3.

New query profile Ongoing indicators (J)

• JV006 Delta/set by using an end of day delta

Update 01.09.2017:

According to our current information, the American regulation agency has in its Notice 2017-42 of 4 August 2017 extended the transitional provisions for the IRC Section 871(m) to the end of 2018. This means that the new field JV006 will, for that reason, not be supplied until further notice.

Therefore, we will wait out for the setup of the query profile until further notice.

Frozen fields

No data fields, currently used in WMACCESS, will be frozen with this WM Release.

Further information from WM Datenservice:

• Customer information K15 from August 4, 2017

Note:

Please note that all customer and special information from WM Datenservice are password protected since 16.04.2012. If you do not have your login data available or not known, please contact WM Datenservice via E-Mail.

On June 26, 2017 the 83. WM Release will become effective. We would like to inform you about some upcoming alterations beforehand and corresponding impacts in WMACCESS.

New field in the query profile Income data (E)

• EV489 Dividend equivalent as per IRC Sec 871(m)

New fields in the query profile Securities master data (G)

• GD189E Basket type
  
  Update as of 01.06.2017 - 5 additional fields:
• GD209D Product intervention identifier
• GV1A7 Product intervention / date valid from/to
• GD209J Article 26 transaction reporting pursuant to MiFIR
• GD209L Transaction reporting direct/indirect identifier
• GV2A0 Article 26 transaction reporting as per MiFIR / date valid from/to

New field in the query profile Capital measures (K)

• KD131 Legal Entity Identifier (LEI) of the subscription agent

New fields in the query profile Conversion (U)

• UD116A Clearstream-Account-No. (Customer account number)
• UD131 Legal Entity Identifier (LEI) of the exchange agen

Frozen fields

No data fields, currently used in WMACCESS, will be frozen with this WM Release.

Further information from WM Datenservice:

• Customer information K08 from April 5, 2017

Note:

Please note that all customer and special information from WM Datenservice are password protected since 16.04.2012. If you do not have your login data available or not known, please contact WM Datenservice via E-Mail.

For many years we are supporting the encrypted access to the WMACCESS website via HTTPS as well as the safe login procedure parallel to the unencrypted HTTP communication.

The unencrypted transmission of sensitive information, such as the WMACCESS username and the associated password, will be deactivated as of 18.06.2017. HTTP will be automatically redirected to the encrypted connection.

In the first place this concerns the URLs for logging on and using the WMACCESS application to query WM data. On the login page of WMACCESS we will remove the unencrypted login option ("standard login procedure").

Test:

Successful: You are viewing this page through an HTTPS connection. Your browser is not affected by the announced action.

Problems using HTTPS?

Should you not be able to access the homepage and the WMACCESS web application due to technical restrictions with HTTPS, please do not hesitate to contact us.

Why do we perform this step only in the year 2017:

Unfortunately, very old browsers (such as Internet Explorer 6) or older operating systems (eg Windows XP) were used in the financial industry in the past few years. However, these browsers or operating systems only support older and unsafe protocols (SSLv2 / SSLv3) or do not provide support for modern secure cipher suites. Users of these platforms had to and so far could use the HTTP protocol.

Preview:

Starting from the 7th of August 2017, the entire Internet presence under our domain wmaccess.com will automatically and exclusively use HTTPS.

In March 2012, we had already made an improvement to the wmView detail display, in order to display the current issuer name (MD031) directly to the three WM fields GD240, GD241, GD245.

This has been implemented for two additional fields:

• MR030 Superordinate issuer number
• HD051 Issuer number of the controlling company

On February 20, 2017 the 82. WM Release will become effective. We would like to inform you about some upcoming alterations beforehand and corresponding impacts in WMACCESS.

The new WM fields in regards to the investment taxation 2018 will be created for the February 2017 Release, but will not come into effect before the 83rd Release on 26.06.2017

Update 17.01.2017:
Please note that many of the new GD fields are not displayed in the Securities master data query profile because of licensing restrictions. Rather, these data fields are to be found exclusively in the wmView query profile Risk Management II / AIF.
Two further fields exclusively in the wmProfile query profile Investment Fund Characteristics

Field descriptions as of 10.01.2017 are already available in wmGuide. Please note, that the English-language field descriptions are currently missing for most new data fields.

New fields in the query profile Income data (E)

• ED476 Distribution as per section 2(11) of the investment tax law in the case of investment funds
• ED476A Taxable preliminary lump sum in euro as per section 18 of the investment tax law
• ED476B Zero identifier in ED476A tax-able preliminary lump sum in euro as per section 18 of the investment tax law
• ED476D Taxable preliminary lump sum in fund currency as per section 18 of the investment tax law
• ED476E Zero identifier in ED476D tax-able preliminary lump sum in fund currency as per section 18 of the investment tax law
• ED476F Basis rate as per section 18 (4) of the investment tax law
• ED476G Ongoing distribution in the case of investment funds in liquidation as per section 17 of the investment tax law
• ED476H Tax free asset distribution in the case of investment funds in liquidation as per section 17 of the investment tax law
• ED476J Taxable distribution with partial exemption as per section 20 of the investment tax law (equity funds 30% private assets)
• ED476K Taxable preliminary lump sum as per section 18 of investment tax law in euro with partial exemption as per section 20 of the investment tax law (equity funds 30% private assets)
• ED476L Taxable distribution with partial exemption as per section 20 of the investment tax law (mixed funds 15% private assets)
• ED476M Taxable preliminary lump sum as per section 18 of investment tax law in euro with partial exemption as per section 20 of the investment tax law (mixed funds 15% private assets)
• ED476N Taxable distribution with partial exemption as per section 20 of the investment tax law (property funds 60%, private assets, business assets (income tax act), business assets (corporate tax law)
• ED476P Taxable preliminary lump sum as per section 18 of the investment tax law in euro with partial exemption as per section 20 the investment tax law (property funds 60%, private assets, business assets (income tax act), business assets (corporate tax act)
• ED476Q Taxable distribution with partial exemption as per section 20 of the investment tax law (property funds 80%, private assets, business assets (income tax act), business assets (corporate tax act)
• ED476R Taxable preliminary lump sum as per sect. 18 of the investment tax law in euro with partial exemption as per sect. 20 of the investment tax law (property funds 80%, private assets, business assets (income tax act), business assets (corporate tax act)
• ED476S Offsettable foreign withholding tax on the fund distribution side in consideration of the partial exemption of fund units held as private assets as per section 20 of the investment tax law
• EV477 Taxable preliminary lump sum in euro as per section 18 of the investment tax law, per month
• EV478 Taxable preliminary lump sum in fund currency as per section 18 of the investment tax law, per monthtax.
• EV479 Taxable distribution with partial exemption as per section 20 of the investment tax law (equity funds 60/80% business assets)
• EV480 Taxable preliminary lump sum in euro as per section 18 investment tax law with partial exemption as per section 20 of the investment tax law (equity funds 30% private assets) per month
• EV481 Taxable preliminary lump sum in euro as per section 18 of the investment tax law with partial exemption as per section 20 of the investment tax law (equity funds 60%/80% business assets)
• EV482 Taxable preliminary lump sum in euro as per section 18 of the investment tax law with partial exemption as per section 20 of the investment tax law (equity funds 60%/80% business assets), per month
• EV483 Taxable distribution with partial exemption as per section 20 of the investment tax law (mixed funds 30/40% business assets)
• EV484 Taxable preliminary lump sum in euro as per section 18 investment tax law with partial exemption as per section 20 of the investment tax law (mixed funds 15% private assets) per month
• EV485 Taxable preliminary lump sum in euro as per section 18 of the investment tax law with partial exemption as per section 20 of the investment tax law (mixed funds 30/40% business assets)
• EV486 Taxable preliminary lump sum in euro as per section 18 of the investment tax law with partial exemption as per section 20 of the investment tax law (mixed funds 30/40% business assets), per month
• EV487 Tax. preliminary lump sum in euro as per sect. 18 of the investment tax law with part. exemption as per sect. 20 of the investment tax law (property funds 60% private assets, business assets investment tax law, business assets corporate tax law) per month
• EV488 Tax. prelim. lump sum in euro as per sect. 18 of the investment tax law with part. exemption as per sect. 20 of the investment tax law (property funds 80% private assets, business assets investment tax law, business assets corporate tax law) per month

New fields in the query profile Securities master data (G)

• GD221G Classification of bail-in instruments
• GD221H BRRD issuer
• GD221J Legal responsibility bail-in
• GD504C Application of the investment tax law (InvStG) as of 1 January 2018
• GD504E Equity holding pursuant to section 2(8) no. 1, 2 of the investment tax law
• GV1B0 Application of the investment tax law (InvStG), historical classification as of 1 January 2018
• GV1B5 Basis rate as per section 18 (4) of the investment tax law
• GV1B8 German participation income as per section 6 (3) of the investment tax law /german property income as per section 6 (4) of the of the investment tax law /other german income as per section 6 (5) of the investment tax law

New fields in query profile Risk management II /AIF
Fund Classifications / AIF

• GD504D Applicable tax procedure as of 1 January 2018
• GD504F Transparency exercise option as per sections 30,31 of the investment tax law
• GD504G Investment funds and/or unit classes as per section 10 of the investment tax law for tax privileged investors
• GD504H Investment funds with missing income as per section 6 of the investment tax law:
• GD504J Investment funds subject to business tax as per section 15 of the investment tax law
• GD504K Investment funds with partial tax exemption as per section 20 of the investment tax law
• GD504L Investment funds with partial tax exemption as per section 20 of the investment tax law
• GD504M Investment funds as per section 2 (15) of the investment tax law
• GD504N Investment funds as per section 26 (4) letter h of the investment tax law
• GD504P Investment funds without tax exemption due to tax privileged investors as per section 8 of the investment tax law
• GD504Q Corporate bodies as per section 42 ( 3) sentence 1 of the investment tax law
• GV1B1 Applicable tax procedure, historical classification as of 1 January 2018
• GV1B2 Investment fund status confirmation as per section 7 (3) of the investment tax law
• GV1B3 Investment funds with missing income as per section 6 of the investment tax law, historical classification
• GV1B4 Investment funds in liquidation as per section 17 of the investment tax law
• GV1B6 Investment funds with partial tax exemption as per section 20 of the investment tax law, historical classification
• GV1B7 Investment funds with partial exemption as per section 20 (4) of the investment tax law, historical classification

New fields in query profile Investment Fund Characteristics

• GD535A Index replication regarding index funds
• GV119 Index funds - index

New fields in the query profile Investment Funds Prices (I)

• ID927 Accumulated tax free asset distributions (section 17(3) of the investment tax law)
• ID928 Prelimanry lump sum in the case of units in euro per month
• ID929 Accumulated prelimanry lump-sum in the case of units

New field in the query profile Issuer data (M)

• MD664 BRRD-issuer
• MD664A Legal responsibility bail-in

New field in the query profile Maturities & Drawings (V)

• VD099 Pool factor after redemption

New field in the query profile Stock exchanges & trading practices (X)

• XD482 Inclusion/admission identifier

Frozen fields

No data fields, currently used in WMACCESS, will be frozen with this WM Release.

Further information from WM Datenservice:

• Customer information K27a from December 14, 2016

Note:

Please note that all customer and special information from WM Datenservice are password protected since 16.04.2012. If you do not have your login data available or not known, please contact WM Datenservice via E-Mail.

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