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Comment: Published by Scroll Versions from this space and version 1.4.37

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Note
titleDiscretionary Impact

Clients are advised to contact the MarketFactory Delivery Team to ensure that they are upgraded to Whisperer schema version 18945, as per the timeline above.

Whisperer clients trading non-Spot products on SEF or MTF will start to receive receive UPI, LegUPI and LegEMIRRTN fields.

Clients should ensure their systems (downstream systems including) are able to process the new UPI/ RTN fields and values published.

Change Details

Clients are advised to contact the MarketFactory Delivery Team to ensure that they are upgraded to Whisperer schema version 18945, as per the timeline above.

  • MarketFactory will update the FIX dictionary of venue APIs upgraded to consume and/ or disseminate new regulatory fields.
  • A new version of Whisperer schema 18945 will be introduced to handle UPI (Unique Product Identifier) and RTN (Report Tracking Number) regulatory fields.
  • Whisperer gateway code will be updated to process UPI and RTN for the venues impacted.

Impacted gateways are listed in the table below.

UPI/RTN support is being introduced in the following steps:

  • Complete - MarketFactory has ensured that impacted gateways will handle the new fields introduced

Change Details

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  • by the UPI and RTN changes, if/when published by the venues.
  • Complete - A backward compatible schema change

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  • gateways will be updated to process and publish UPI and RTN

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  • details.

Summary of changes to Whisperer gateways, impacted FIX messages, and fields:

VenueFIX MessageFIX TagsMF AvailabilityVenue UATGo-liveNotes
baml

NewOrderMultiLeg

ExecutionReport

LegEMIRRTN

-

04 Dec 2023

-

BAML do not require clients to send UPI as they will generate and report UPIs to fulfil their CFTC reporting obligations.

BAML can consume UTI (Unique Transaction Identifier), RTN (Report Tracking Number) and MIC code from UK/ EU registered clients for NDFs.

BAMLwill not reject trade request if RTN, MIC or UTI is missing.  An internal alert will be raised by post trade reporting systems to reconcile offline.

RTN requirements are:

1. RTN is required on ESMA venue
2. RTN is required when MIC present
3. RTN is to be labelled RTN by vendor
4. RTN is not to be UTI
5. RTN is not be another value already reported to regulator
6. RTN is up to 52 characters no special characters
7. RTN not received is to be sent as RTNNotRecieved by booking system

bgc_midfxExecutionReport

UPI

LegUPI

-27 Nov 2023Dec 2023BGC would disseminate UPI and RTN for NDF trades.

bloomberg_fxgo_maker

QuoteRequest

Quote

NewOrderMultiLeg

ExecutionAck

UPI

LegUPI

LegEMIRRTN

24 Nov 202315 Oct 202315 Dec 2023

BBG will disseminate UPI and RTN for all instruments except for Spot when the trade is executed on BMTF, BTFE, BSEF, and BTBS facilities.

Please refer to the Bloomberg FXGO change notice for   for more info. 

cboefx_bookfeed

SecurityStatusUPILegUPI28 Nov 202315 Nov 202330 Nov 2023

CboeFX will disseminate the new field only on demand.

Please refer to the CboeFX change notice for more info. 

cboefx_fixproxy

SecurityStatus

ExecutionReport

UPILegUPI

LegEMIRRTN

28 Nov 202315 Nov 202330 Nov 2023

CboeFX will disseminate the new field only on demand.

Please refer to the CboeFX change notice for more info. 

cboefx_itch

SecurityStatusUPILegUPI28 Nov 202315 Nov 202330 Nov 2023

CboeFX will disseminate the new field only on demand.

Please refer to the CboeFX change notice for more info. 

ebs_cpt

ExecutionReport

UPILegUPI

LegEMIRRTN

08 Dec 2023

06 Nov 2023

29 Jan 2023 (UPI)

29 Apr 2023 (RTN)

EBS will disseminate UPI for all NDF trades.

EBS will disseminate RTN for all exchange traded derivatives (including OTC) to support clients with an EMIR reporting obligation.

Please refer to EBS confluence on UPI/ RTN for more info. EBS Change notice for your reference.

fastmatch_autoex

Pending

Pending


-

-

-

Fastmatch will disseminate UPI for NDF orders executed on their platform to facilitate compliance with CFTC regulatory trade reporting services that it is providing on behalf of its clients.

Fastmatch do not support RTN as Euronext Markets Singapore does not have any EU or UK related trade reporting obligations as it is a Singapore based entity.

fastmatch_stream_maker

Pending

Pending

-

-

-

Fastmatch will disseminate UPI for NDF orders executed on their platform to facilitate compliance with CFTC regulatory trade reporting services that it is providing on behalf of its clients.

Fastmatch do not support RTN as Euronext Markets Singapore does not have any EU or UK related trade reporting obligations as it is a Singapore based entity.

fxall_activetrading_maker

NewOrderMultiLeg

ExecutionAck

LegEMIRRTN

-

-

-

The TradeID (a component of UTI) issued by each liquidity venue is proposed to be used as the Report Tracking Number(RTN) for EMIR Refit purposes.

UPI is not supported in the Trading APIs but in the post-trade STP APIs.

Please refer to FXAll UPI change notice and FXAll RTN change notice for more info.

fxall_quicktrade_maker

NewOrderMultiLeg

ExecutionAck

LegEMIRRTN

-

-

-

The TradeID (a component of UTI) issued by each liquidity venue is proposed to be used as the Report Tracking Number(RTN) for EMIR Refit purposes.

UPI is not supported in the Trading APIs but in the post-trade STP APIs.

Please refer to FXAll UPI change notice and FXAll RTN change notice for more info.

fxspotstream

QuoteRequest

NewOrderMultiLeg

UPILegUPI

-

-

-

Venue will consume UPI if a client/ LP provides it.

No support for RTN.

fxspotstream_algo

ExecutionReport

UPILegUPI

-

-

-

Venue will disseminate UPI if a client/ LP provides it.

No support for RTN.

lseg_fxall_rfq_maker

NewOrderMultiLeg

ExecutionAck

LegEMIRRTN

-

-

-

The TradeID (a component of UTI) issued by each liquidity venue is proposed to be used as the Report Tracking Number(RTN) for EMIR Refit purposes.

UPI is not supported in the Trading APIs but in the post-trade STP APIs.

Please refer to FXAll UPI change notice and FXAll RTN change notice for more info.

t360_tex_maker

PendingPending

-

20 Nov 2023

-

New version of API 4.19 will be available on the 20th of November.

MarketFactory is required by 360T to recertify on their new RFS Maker API v1.20.5 where the UPI/ RTN changes are supported.
Clients that want to test the UPI/ RTN functionality in Integration should contact [email protected]
UPI and RTN are applicable for SEF and MTF trades only.
Each leg of a block will hold the same RTN identifier.

Please refer to 360T change notice for more info.

 

Documentation

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