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Thee are typically identified for regulatory reporting purposes via Legal Entity Identifiers (LEIs) and Market Identification Codes (MICs):

Waivers and Flags

• LEI: Defined by ISO 17442. Refer to http://www.lei-lookup.com for a definitive list of valid LEIs
• MIC: Defined by ISO 10383. Refer to https://www.iso20022.org/10383/iso-10383-market-identifier-codes for a definitive list of valid MICs.

Waivers and Flags

• New Orders (New Order Singles)
  Venues use  Legal Entity Identifier (LEI) - firms will not be able to execute a trade on behalf of a client who is eligible for a LEI and does not have one.
  Execution Venue MIC (A market identifier code which is unique in its ability to identify securities trading exchange).
  Pre-Trade Waivers and Flags (Used for orders that are large in scale, held in an order management facility pending disclosure, actionable indications of interest in request-for-quote waiver indicators are likely to be the illiquid instrument and the specific size).Quote Messages (Snapshots and Incremental Refresh)
  New fields may include Execution Decision Maker containing the decision maker and likely to contain the algo shortcode, this field will be mandatory for in-scope products.Outbound Executions (Execution reports)
  Must contain a LEI
  Execution Decision Maker
• Algorithmic Order Flag, set if the order was algorithmic.

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