When sending an execution report under match capacity, 29=3, and including the reportable information in tag 20073 should that be the MIC code of the reporting venue, or is XOFF sufficient.
In the transaction reporting guidelines TransReporting_1.3_22Jun17 it states XOFF in the examples, we have seen some client specifications that are stating that the operating MIC of the venue should be present.
Segment MIC of Venue is only applicable for below cases:
Negotiated trade (traded off book but under rules of Trading Venue) between Broker and Client is brought by the Broker who is a member on the Trading Venue
Agency Broker crossing two client orders brings the cross on a Trading Venue under a Waiver.
For Trading Capacity of MTCH, it will be XOFF as Client is not facing the Trading Venue.