MiFIR/MiFID II Transaction Reporting Field 36 “Venue” : MIC
- For financial instruments admitted to trading or traded on a trading venue, where the transaction on that financial instrument is executed over-the-counter: XOFF
- For financial instruments admitted to trading or traded on a trading venue, where the transaction on that financial instrument is executed on a Systematic Internaliser (SI): ISO 10383 MIC (four characters) for that SI
- Where an investment firm does not know it is trading with another investment firm acting as a SI: XOFF
- For financial instruments where the underlying is a financial instrument admitted to trading or traded on a trading venue and where the transaction on the main financial instrument is executed over-the-counter: XXXX
- For financial instruments traded on a non-EEA valid trading venue for which a valid MIC is not assigned: NEEA
Unsure if one of the counterparties is an SI? Our “VenueMaster” subscription service allows you to populate the Venue field with a MIC value consistent with current ESMA data. This can be tested by loading the following four non-confidential trade attributes …
- Buyer LEI
- Seller LEI
- Instrument Classification/CFI_Code (an attribute of the ISIN)
- Maturity Date (an attribute of the ISIN)
… into the ANT Consulting Ltd supplied Excel spreadsheet template … and the ESMA-consistent MIC is returned via secure REST API for inclusion as the Venue within the 65 fields specified by MiFID II/MiFIR for T+1 transaction reporting
