Difference between PartyRole values

,
1

Hello FIX Community,

I would like a clear understanding for the use and differences between:

  • Values in PartyRole: Executing Firm (1=) and Executing Trader (12=) and which value from these two should I use to satisfy the MiFID II requirement ‘Execution within firm’: Code used to identify the person or algorithm within the investment firm who is responsible for the execution. ?

Any help would be appreciated - Thanks

1 Like
2

https://www.xetra.com/xetra-en/newsroom/current-regulatory-topics/mifid-two-and-mifir full coverage and details for all combinations one may come across. OPen * 2022: Information handbook for audit trail, reportings and other regulatory reportings under the MiFID II/MiFIR regime (Download, PDF, 996.81 kB) and search for your fields in question.

3

@amani99 Use PartyRoleQualifier(2376)=22 (Algorithm) along with either PartyRole(452)=12 (Executing trader) or 122 (Investment decision maker) if you’re trying to identify it was an algorithm, if the qualifier is not specified then it is a natural person. If you are using one of the other xxxParties component there are corresponding qualifier field in those components.

4

PartyRole=12 is the correct one in this case.