Change to XML format for data delivery to WM Datenservice
In the course of April 2023, WM Datenservice will switch the delivery of fund-related data to the technical format XML. This will impact several CRR II / CRD V client reporting reports.
As part of its CRR II / CRD V client reporting service, IDS is also producing specific reports for its clients, which are intended for delivery to WM Datenservice's Fund Data Hub. These include the "Reporting Form Equity Deduction Items and CVA Risk", the report in accordance with GV233 "Solvency Ratios Calculated in Accordance with Basel II: Credit Risk Standardised Approach CRSA" as well as the report in accordance with GV089 "Country-specific CRSA Risk Weighting for Determining the Anti-Cyclical Capital Buffer".
All reports are currently generated in formats specified by WM Daten as XSL files. This format will change in the future. From April 2023, deliveries are to be made only in XML form.
Required changes for the transition to XML format
First of all, this change requires the modification of the technical delivery format. WM Datenservice has prepared a comprehensive specification for this purpose.
For a transitional period, the reports are to be produced in both formats, XLS and XML, in parallel. However, the information contained in an XML file cannot be easily checked and plausibility tested. It can therefore be expected that parallel production will remain part of the service in many cases even after the end of the transition phase.
Finally, an S/FTP connection between the supplying system and WM Datenservice must be set up and operated for the transmission of the file in XML format.
No changes to the content of the reports themselves are associated with this changeover, though.
Official schedule for the implementation
An informative session was held on 17 September 2021, during which WM Datenservice provided details of the following implementation timeframe, which had already been adjusted:
- A pre-production phase already took place from November 2021 to March 2022, in which the necessary measures for the changeover were prepared.
- From 07 March 2022 to 06 April 2023, a so-called "customer test phase" will run, where both formats - XSL and XML - can be delivered to WM Datenservice in parallel.
- The official "GoLive" is to take place in the period from 07 to 11 April, after which data will be delivered in XML only.
- WM Datenservice allows companies experiencing technical problems with the changeover a fallback period of two additional weeks.
- On 24 April 2023, the option of delivering XLS files will be finally terminated.
How can IDS support you with the format changeover
IDS will convert the delivery formats for you, you do not need to worry about this for the time being. At present, we plan to implement the XML formats by July 2022 and go into parallel operation starting in August 2023. We will maintain the XLS formats in production for the time being to give you the opportunity to review the reports.
We are offering our customers two options for the delivery of the XML formats to WM Datenservice:
- Either we deliver the files we generate to you, and after checking them you forward them to WM Datenservice. However, this requires you to set up an S/FTP connection to WM Datenservice.
- Or we deliver the XML files directly and via our S/FTP connection to WM Datenservice. This can, of course, also be preceded by a check and approval on the basis of the XSL files.
No matter which way you wish to go - we can support you. Talk to us, our experts are always available to answer your questions.
