Change Overview from BAML

• Below is a summary of tag changes on BANA FIX client spec, drop copy/STP and block trade. 
  • BANA FIX client spec
    • NewOrderSingle both algo and RFS/RFQ flows (35=D)
      • Add Tag 1905 GlobalUTIPrefix to hold LEI 20 chars. On swap trade GUTIPrefix applies to both near and far legs
      • Expand Tag 21003 USILinkId to 52 chars                
      • Expand Tag 21005 USIValue to 52 chars.  USI or UTI value on the trade              
      • Expand Tag 21007 FarUSIValue to 52 chars. Far USI value or Far UTI value on the trade              
      • Add Tag 1911 PriorGUTIPrefix to hold LEI 20 chars.  On swap trade PriorGUTIPrefix applies to both near and far legs
      • Expand Tag 21022 PriorUSIValue to 52 chars. Prior USI value or Prior UTI value on the trade              
      • Expand Tag 21026 PriorFarUSIValue to 52 chars. Prior USI value or Prior UTI value on the trade             
    • Pre-allocation instructions in NewOrderSingle of RFS/RFQ flow.  In tag 78 NoAllocs repeating group, at the allocation level:
      • Add Tag 1910 AllocGUTIPrefix to hold LEI 20 chars. On swap trade GUTIPrefix applies to both near and far legs
      • Expand Tag 21005 USIValue to 52 chars.  USI value or UTI value               
      • Expand Tag 21007 FarUSIValue to 52 chars. USI value or UTI value               
      • Add Tag 1911 PriorGUTIPrefix to hold LEI 20 chars.  On swap trade PriorGUTIPrefix applies to both near and far legs
      • Expand Tag 21022 PriorUSIValue to 52 chars. Prior USI value or Prior UTI value              
      • Expand Tag 21026 PriorFarUSIValue to 52 chars. Prior Far USI value or Prior Far UTI value              
    • Post-allocation instructions (35=J)
      • Add Tag 1905 GlobalUTIPrefix to hold LEI 20 chars. On swap trade GUTIPrefix applies to both near and far legs
      • Expand Tag 21003 USILinkId to 52 chars
      • Expand Tag 21005 USIValue to 52 chars.  USI value or UTI value
      • Expand Tag 21007 FarUSIValue to 52 chars. USI value or UTI value
      • Add Tag 1911 PriorGUTIPrefix to hold LEI 20 chars.  On swap trade PriorGUTIPrefix applies to both near and far legs
      • Expand Tag 21022 PriorUSIValue to 52 chars. Prior USI value or Prior UTI value
      • Expand Tag 21026 PriorFarUSIValue to 52 chars. Prior USI value or Prior UTI value
      • At the allocation level
        • Add Tag 1910 AllocGUTIPrefix to hold LEI 20 chars. On swap trade GUTIPrefix applies to both near and far legs
        • Expand Tag 21005 USIValue to 52 chars.  USI value or UTI value
        • Expand Tag 21007 FarUSIValue to 52 chars. USI value or UTI value
        • Add Tag 1911 PriorGUTIPrefix to hold LEI 20 chars. On swap trade PriorGUTIPrefix applies to both near and far legs
        • Expand Tag 21022 PriorUSIValue to 52 chars. Prior USI value or Prior UTI value
        • Expand Tag 21026 PriorFarUSIValue to 52 chars. Prior USI value or Prior UTI value
    • ExecutionReport (35=8)
      • BofA gateway to echo all incoming GUTIPrefix and USI/UTI tags
  • BofA STP/Drop copy spec.  ExecutionReport (35=8)
    • Add Tag 1905 GlobalUTIPrefix to hold LEI 20 chars. On swap trade GUTIPrefix applies to both near and far legs
    • Expand Tag 20046 RegTradeId1 to 52 chars. USI value or UTI value               
    • Expand Tag 20052 RegTradeId2  to 52 chars. USI value or UTI value               
  • Block trade NewOrderMulti (35=AB) and ExecutionReport (35=8)
    • At parent level, Expand Tag 21003 USILinkId to 52 chars
    • At leg level,
      • Add Tag 1905 GlobalUTIPrefix to hold LEI 20 chars
      • Expand Tag 21005 USIValue to 52 chars.  USI value or UTI value
      • Add Tag 1911 PriorGUTIPrefix to hold LEI 20 chars
      • Expand Tag 21022 PriorUSIValue to 52 chars. Prior USI value or Prior UTI value
      • Expand Tag 21026 PriorFarUSIValue to 52 chars. Prior USI value or Prior UTI value

MarketFactory Analysis

Details covered in Venue and MF Impact sections.

Impact to MarketFactory

SEF venue trades will have the below new fields that are added part of CFTC Global UTI reporting requirement. MarketFactory will publish these new fields in AllocPassThruFields and BodyPassThruFields [BodyPassThruKey/ AllocPassThruKey will be updated once changes are implemented in MF baml gateway]:

Existing fields that clients send and receive at present are amended part of GUTI reporting change where the length of the field value will increase for SEF trades: