Hello everyone,
I am trying to find suitable tags for MiFID fields Missing Price and Third-country execution venue (ESMA guidance for post trade transparency reports included in table 3 of annex I of RTS 1).
MMT v 4.0 doesn’t contain tags.
Also tried to look through recent extension packs.
Seeking for guidance and best-practices.
Thank you.
@volhabarazna the coverage for missing price was already introduced with EP228. The rewrite of ESMA RTS 1 and 2 only modelled it better so that the decimal price and the strings “PNDG” and “NOAP” no longer have to share the same field (different datatypes).
Please look at TradePriceCondition(1839) value 17 for PNDG and 18 for NOAP.
The third-country execution venue is already covered as well. Please use PartyRole(452)=73 (Execution venue) for the MIC value (or SINT or XOFF) regardless of whether the transaction was executed in a third-country or not. Use PtySubGrp with PartySubIDType(803)=70 (Location or jurisdiction) (and only then as there is no code for “non-EU”) to identify the location if the MIC is in a third-country.
The alternative is to only use LastMkt(30) and identify the location on-the-fly when populating the report to the NCA (putting XOFF in “Venue of execution” and the MIC of the venue in “Third-country trading venue of execution” in case of a third-country venue).
@gtcpm, thank you very much for this information.
Could you please advise if you are familiar with best practices of populating field third-country execution venue with blank value?
Thank you
It is a best practice to omit a FIX field of datatype string and not to send it with a blank (or empty) value when you do not have a value to send.
Thank you very much for you kind assistance