Change Overview from Currenex
Update Regulatory Trade ID for SwapEx from USI to UTI
| Area | Service | Instrument Types | Description |
|---|---|---|---|
| Regulatory | SwapEx | FX NDFs | Update Regulatory Trade ID for SwapEx from USI to UTI FIX API changes: FIX Maker RFQ: In the NewOrderSingle(35=D) message, the value for 1905 and 1910 must be the LEI of SwapEx NewOrderSingle (8=FIX.4.4^9=403^35=D^49=CNX^34=4^52=20220127- FIX STP: The value for 1905, 1973 and 1910 must be the LEI of SwapEx (549300LSKJOBJ3IC5645). |
Specification Document
Updated Specification Document is not available but change is listed in attached document.
Conformance/ Certification Testing
Message from Venue - We do not require conformance testing for these changes, however need your confirmation that all testing results look according to our requirements.
MarketFactory Analysis
Impact
Impacted message from the Venue will now be enhance to send LEI of SwapEx under RegulatoryTradeIDSource and AllocRegulatoryTradeIDSource for SEF Trades.
Maker vs Taker
- For Taker RFQ, this is ExecutionReport received from Venue.
- For Maker RFQ, NewOrderSingle message from Venue.
Impact to MarketFactory
NDF SEF trades are all enhanced now to contain UTI instead of USI.
MF Relevance
From the aforementioned venue changes, MarketFactory's Currenex implementation is impacted by
FIX Maker RFQ
MF fields impacted by CFTC Global UTI reporting requirement
RFS : MarketFactory will send 20 char long LEI values in LegRegulatoryValue and AllocRegulatoryValue :