MiFID ESCB Disclosure Exempt

Could someone please provide some guidance on how this particular MiFID requirement is being met?
Which FIX tag is being used by an ESCB customer to mark their orders and trades as exempt from disclosure?

Hi Aditya,

currently we have TrdRegPublicationReason(2670) = 12 (Exempted due to European System of Central Banks (ESCB) policy transaction). Would this value apply? Please check the elaboration, e.g. if it would need to be enhanced for this use case. Or if we need a new valid value because it is not a “policy transaction”.


Thanks Hanno; just to clarify that TrdRegPublicationReason(2670) is part of TrdRegPublicationGrp repeating group which in turn is part of ExecutionReport and TradeCaptureReport whereas we need something on NewOrderSingle and OrderCancelReplaceRequest to indicate this type of exemption

@adityakapur, I missed that you said “orders and trades”. For orders, it would be OrderAttributeType(2594) but there is no valid value for the ESCB exemption yet. It had not come up as a requirement in the FIX working groups for MiFID. I guess this would be part of the EMEA Transparency Subgroup under the EMEA Regulatory Subcommittee.

Okay thanks; for now due to time to market we are just going to add the TrdRegPublicationGrp repeating group to NewOrderSingle and OrderCancelReplace