Change Summary

Mandatory Change

Background

Introduce the ability to identify the liquidity provider that executed an order in the ESPTaker and RFSTaker workflows.

This feature will help users get a complete view of orders executed by an LP on an ECN + orders dealt directly on a native bank API.

Affected Venues

Change

We will enrich ExecutionReport with ExecutionVenue PartyRole and PartyID populated with the MIC of the liquidity provider that Filled/ Rejected/ Cancelled an order.

Timeline

18 Feb 2026 - UAT - The feature will be available for clients to test in UAT if they are trading on the affected venues.
At client's discretion - PROD - Whisperer release 2026.02.18.WE or a later version will be available for clients who are ready to consume ExecutionReport consistently populated with ExecutionVenue PartyRole.

Whisperer Client Impact

Change Details

Whisperer clients trading on the Affected Venues will consistently receive ExecutionVenue PartyRole and PartyID populated with the MIC of the liquidity provider in ExecutionReport.

The ExecutionVenue enrichment applies to ExecutionReport with IsSynthetic flag set to Y and N.

ExecutionVenue in t360_tex

Please note that the ExecutionVenue mappings exist only for the MIC of LPs configured for our clients at the time of this implementation.

As we do not have the visibility of all the LPs that 360T supports, clients starting to trade on t360_tex with new LPs will receive XXXX as the PartyID for ExecutionVenue.

MarketFactory adapter will send an ErrorReport to notify the client when 360T sends an LP that is not recognised by MarketFactory as a valid LP for ExecutionVenue enrichment.

ISO MIC for undefined market

For the following technology platforms that does not have an ISO MIC, clients will receive XXXX (the ISO MIC for undefined market) as the PartyID for ExecutionVenue:

celertech
xenfin_liquiditypool

The following table has the MIC of the LP we enrich in ExecutionVenue:

Venues	MIC
autobahnfx_rapid	`DBAG`
autobahnfx_singleleg	`DBAG`
baml	`BAML`
barx	`BARX`
bnpparibas_efx_streaming	`BNPS`
celertech	`XXXX` (No ISO MIC for Celertech. Using the ISO MIC for undefined market)
citi_colo	`CGMI`
exchange24	`24EX`
fxspotstream	MIC of the LP. `XXXX` when `OrdStatus` = `PendingNew` or orders `Cancelled` by FSS due to connection loss.
gsfx	`GSCO`
hsbc_fx_mds	`HSBC`
jpmorgan_fx	`JPSI`
morganstanley_esp	`MSAX`
natwest_markets	`NWMS`
nomura_esp	`NMRA`
rbc_trading	`RBCS`
saxo_direct	`SXSI`
socgen	`XSGA`
standardchartered_s2bx	`STAN`
statestreet_efx	`SSBI`
t360_tex	MIC of the LP. `XXXX` for undefined LPs.
ubs_fx2b	`UBSG`
xenfin_liquiditypool	`XXXX` (No ISO MIC for Xenfin. Using the ISO MIC for undefined market)
xtx_euthenia	`XTXM`

Documentation

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2026-Q1 - Post-Trade Normalisation (Execution Context) - ExecutionVenue - ESPTaker/ RFSTaker