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changes.mady.by.user Sadat Tafader

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Table of Contents

Change Summary

Note
titleDiscretionary Change

Background

  • UK-based clients will no longer be able to trade on the EU-MTF as the TPR (Temporary Permission Regime) that allows UK clients to trade on the EU-MTF will expire by the 30th of December 2023.
  • A replacement, new 360T UK-MTF will be available from the 15th of December.

Affected Venues

Change

  • Clients will receive MIC code "G360" when trading on UK-MTF.
  • A new version of the 360T Tex GUI is available here, allowing the client to select between UK-MTF and EU-MTF:

Image Added

Timeline

  • 15th December 2023 - 360T launches the UK-MTF. Your UK-domiciled clients should ensure they are onboarded to the UK-MTF to access MTF liquidity.
  • 30th December 2023 - 360T TPR expires and EU-MTF will no longer be available to trade on for your UK-domiciled clients.

Whisperer Client Impact

Note
titleAdvisory Impact

Clients will be able to trade on UK-MTF using the current version Whisperer as normal.

Change Details

Phase 1 - Venue-side changes (completed)

  • When trading on UK-MTF vs EU-MTF, clients will receive differing PartyID values for PartyRole ExecutionVenue.
  • The LegRegulatoryValue prefix for LegRegulatoryKey LegMiFIDTVTIC will contain the LEI for their respective MTF.
  • Clients will receive these PartyRole and LegRegulatoryKey values in QuoteRequest, NewOrderMultileg, and ExecutionAck messages.



PartyRole ExecutionVenue

LEI (Prefix of LegRegulatoryKey LegMiFIDTVTIC)

UK-MTFG360529900MXX9KHFAUADV11
EU-MTF360T529900P0204W9HA8JP36

Phase 2 - Whisperer schema change (completed)

As part of 2023-12-09 - Whisperer API Upgrade to v18945  the RegulatoryBodies field now includes a UKMiFID choice option, to differentiate from MiFID (EU).

This value is not yet set explicitly and will therefore initially convey a default FALSE value.

Phase 3 - explicitly report on/off-UK MTF

In a future release, Clients will see the RegulatoryBodies MiFID flag populated correctly for both EU-MTF and UK-MTF, reflecting the alternative ExecutionVenue MICs and LEIs delivered by the venue.

Documentation

Attachments