The item "Contract size" in Open Derivatives should be reported for futures and options (CIC '##A#' or '##B#' or '##C#' or ‘##F2’) (S.08.01, EIOPA rule BV1071)

The rule in plain words

EIOPA writes it out as separate checks, one for each table or return it covers. Line4 Check runs two of them (BV1071-1 and BV1071-2), and a failure names the one that failed.

What to do if your return fails it

1. 01Open the tables below and find the cells the rule reads.
2. 02Report a value in this cell where the rule applies. A 0 counts as reported; a cell left out of the return does not.
3. 03It runs only when your filing indicators mark S.08.01 as reported.
4. 04This is a warning. It does not stop the return on its own, but your supervisor may ask you to explain it.

The cells it reads

Which returns it applies to

Line4 Check runs it on quarterly solo (QRS), quarterly group (QRG) and quarterly branch (QRB) returns on EIOPA taxonomy 2.10.0. EIOPA applies it to quarterly group (QRG), annual group (ARG), annual ECB solo (AES), quarterly ECB solo (QES), quarterly ECB branch (QEB), annual ECB branch (AEB), quarterly solo (QRS), quarterly branch (QRB), annual solo (ARS) and annual branch (ARB) returns, as a warning.

EIOPA’s own words and formula

In EIOPA’s list of validations, word for word:

The item "Contract size" in S.08.01 - Open Derivatives should be reported for futures and options (CIC '##A#' or '##B#' or '##C#' or ‘##F2’).

Other rules on Open derivatives (S.08.01)

Every Solvency II rule on S.08.01

Checks like this one, run at the point of submission, are the first step to real-time supervision. Line4 builds SupTech software for financial regulators that runs checks like these as each return arrives.