Change affects Central Post Trade (CPT) API messages on both FIX4.4 and TOF protocols. Please refer to CPT CFTC Rewrite Field Changes FIX and TOF for the full details.
NEX SEF is working on implementing the necessary changes to its SDR reporting messages consistent with the CFTC Technical Specifications for December 5, 2022, the Compliance Date. As part of this undertaking, NEX SEF is closely working with DTCC, our SDR, on ensuring all required CFTC fields and values are accurately reflected in its Public Price Dissemination (“PPD”) messages to meet DTCC’s validation requirements in time for the Compliance Date.
Consistent with CFTC Technical Specifications and DTCC’s validation requirements, NEX SEF will transition on the Compliance Date from reporting a Unique Swap Identifier (“USI”) to reporting a UTI for newly executed transactions adhering to ISO Standardized guidelines (ISO 23897). Details of these changes can be found on the Client Systems Wiki where changes to the Central Post-Trade APIs highlight the pre and post implementation values.
The upcoming changes to the UTI should be low impact to the existing CPT APIs, however we encourage participant testing to validate the ingestion by their back-office systems to ensure accurate UTI adoption for continued and lifecycle data reporting to DTCC. New Release (NR) testing availability in will be announced as soon as possible in future EBS Market on CME Globex Notices.
Further details here in CME confluence: https://www.cmegroup.com/confluence/display/EPICSANDBOX/NEX+SEF+CFTC+Rules+Rewrite
On the 13th September 2022, we confirmed with the venue support that the only message impacted part of CFTC Rule Re-write is MsgType="AE"/ TradeCaptureReport. Since MF do not support any post trade messages, we can confirm that this change does not have any impact on MarketFactory implementation. |
No change/ action required at MarketFactory's end.
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