Change Overview from Currenex
Update Regulatory Trade ID for SwapEx from USI to UTI
| Area | Service | Instrument
Types | Description |
|---|
| Regulatory | SwapEx | FX NDFs | Update Regulatory Trade ID for SwapEx from USI to UTI
This ticket is to make changes on SwapEx in accordance with the updates to the CFTC Rules. This change is to update the
Regulatory Trade ID used from a USI to UTI.
Trade tickets:
 Image Added FIX API changes:
FIX API messages are updated similarly to indicate the LEI of SwapEx (549300LSKJOBJ3IC5645) when reporting the UTI
of the trade transaction.
FIX Taker RFQ: In the ExecutionReport(35=8) message for fill, the value for 1905 and 1910 must be the LEI of SwapEx
(549300LSKJOBJ3IC5645).
ExecutionReport (8=FIX.4.4^9=451^35=8^49=CNX^34=4^52=20220127-
21:15:14^56=qatesttkr_u1^37=1023186621^11=12345^453=1^448=qatestmkr^452=1^17=A20
220270AP7400^527=eid701278739141700^150=2^39=2^1907=1^1903=A20220270AP7400^1905=549300LSKJOBJ3IC56
45^1906=1^1=qatesttkr^64=20220407^55=USD/INR^
460=4^167=FXNDF^54=1^38=563151.3^44=75.5780^15=INR^120=USD^194=74.867^195=0.7110^151=0^14=563151.3^6
=75.5780^75=20220127^60=20220127-21:15:02^
119=7451.26^6203=20220405^117=351751840_12345^631=75.586^10=001^) FIX Maker RFQ: In the NewOrderSingle(35=D) message, the value for 1905 and 1910 must be the LEI of SwapEx
(549300LSKJOBJ3IC5645). NewOrderSingle (8=FIX.4.4^9=403^35=D^49=CNX^34=4^52=20220127-
21:15:02^56=qatestmkr_u1^11=A20220270AP7400^526=1023186621^
453=5^448=qatesttkr_u1^452=3^448=qatesttkr^452=1^448=DTCC^452=102^448=SwapEx^452=73^448=qatestmkr^452=1
16^
64=20220407^55=USD/INR^65=CD^460=4^167=FXNDF^54=1^60=20220127-
21:15:0238=563151.3^40=D^44=75.5780^15=INR^117=12345QUOTE^6203=20220405^
1907=1^1903=A20220270AP7400^1905=549300LSKJOBJ3IC5645^1906=1^828=0^1430=R^10=125) FIX STP: The value for 1905, 1973 and 1910 must be the LEI of SwapEx (549300LSKJOBJ3IC5645).
TradeCaptureReport (8=FIX.4.4^9=644^35=AE^49=CNX^34=8^52=20220127-
21:15:14^56=qatesttkr_stp^571=706570141^1003=A20220270AP7400^
568=qatesttkr_stp_tcrreq^828=101^855=0^150=0^527=eid701278739141700^570=N^1116=2^1117=qatesttkr^1119=13^1
120=2^1121=qatesttkr_u1^
1122=2^1121=0JK55UGWSWNF3X7KLQ85^1122=1^1117=qatestmkr^1118=M^1119=1^1120=2^1121=qatestmkr_u1^112
2=2^1121=9R7GPTSO7KV3UQJZQ078^
1122=1^55=USD/INR^65=OR^460=4^167=FXNDF^32=563151.30^31=75.57800000^1056=7451.26^15=INR^120=USD^19
4=74.86700000^631=75.58600000^
195=0.71100000^75=20220127^60=20220127-21:15:02.973^64=20220407^552=1^54=1^1=qatesttkr^
1971=1^1972=A20220270AP7400^1973=549300LSKJOBJ3IC5645^1975=1^1057=Y^6203=20220405^10=129) |
| Note |
|---|
| title | Specification Document |
|---|
|
Updated Specification Document is not available but change is listed in attached document. Update Regulatory Trade ID for SwapEx from USI to UTI.pdf |
| Note |
|---|
| title | Conformance/ Certification Testing |
|---|
|
Message from Venue - We do not require conformance testing for these changes, however need your confirmation that all testing results look according to our requirements. |
MarketFactory Analysis
| Note |
|---|
|
Impacted message from the Venue will now be enhance to send LEI of SwapEx under RegulatoryTradeIDSource and AllocRegulatoryTradeIDSource for SEF Trades. | Tip |
|---|
| - For Taker RFQ, this is ExecutionReport received from Venue.
- For Maker RFQ, NewOrderSingle message from Venue.
|
|
Impact to MarketFactory
NDF SEF trades are all enhanced now to contain UTI instead of USI.
| Warning |
|---|
|
From the aforementioned venue changes, MarketFactory's Currenex implementation is impacted by FIX Maker RFQ |
MF fields impacted by CFTC Global UTI reporting requirement
RFS : MarketFactory will send 20 char long LEI values in LegRegulatoryValue and AllocRegulatoryValue :