Errors, fields and validation

Indication as to whether the transaction report is new or a cancellation.

Transaction Reference Number

Identification number that is unique to the executing firm for each transaction report. Transaction id for the TRS transaction.

Where, pursuant to Article 26(5) of Regulation (EU) No 600/2014, a trading venue submits a transaction report on behalf of a firm that is not subject to Regulation (EU) No 600/2014, the trading venue shall populate this field with a number that has been internally generated by the trading venue and that is unique for each transaction report submitted by the trading venue.

Trading Venue & Trading Venue Transaction Identification Code

This is a number generated by trading venues and disseminated to both the buying and the selling parties in accordance with Article 12 of [RTS 24 on the maintenance of relevant data relating to orders in financial instruments under Article 25 of Regulation 600/2014 EU].

This field is only required for the market side of the transaction executed on a trading venue.

Executing party

Identification of the entity executing the transaction.

Submitting party

Entity submitting the transaction report to the competent authority.

Buyer & Seller

The buyer and seller of a transaction, usually the owner of the account.

Buyer & Seller Identification Code

The identification code for the buyer or seller. Could be one of the following:

• LEI is used when it is a judicial person
• MIC is when the venue is outside of the union
• NID is used when it is a physical person
• INTC is used when the deal is passed through an own portfolio

Buyer & Seller Country of Branch

Where the acquirer is a client, this field shall identify the country of the branch that received the order from the client or made an investment decision for a client in accordance with a discretionary mandate given to it by the client as required by Article 14(3). Where this activity was not conducted by a branch this shall be populated with the country code of the home Member State of the investment firm or the country code of the country where the investment firm has established its head office or registered office (in the case of third country firms). Where the transaction is for a transmitted order that has met the conditions for transmission set out in Article 4, this field shall be populated using the information received from the transmitting firm.

Buyer & Seller First name

Full first name(s) of the buyer or seller. In case of more than one first name, all names shall be included in this field separated by a comma.

Buyer & Seller Last name

Last name(s) of the buyer or seller.

Buyer & Seller Date of birth

Date of birth of the buyer & seller.

Buyer & Seller Decision maker

Only used when the decision maker is other then the owner of the account (Buyer/Seller).

Buyer & Seller decision maker - Code

Code used to identify the person who makes the decision to acquire the financial instrument. Where the decision is made by an investment firm, this field shall be populated with the identity of the investment firm rather than the individual making the investment decision. Where the decision maker is a legal entity, the LEI code of the decision maker shall be used. Where the decision maker is a non-legal entity, the identifier specified in Article 6 shall be used.

Buyer & Seller decision maker - First name

Buyer & Seller decision maker - Surname

Buyer & Seller decision maker - Date of birth

Trading date time

Date and time when the transaction was executed. For transactions executed on a trading venue, the level of granularity shall be in accordance with the requirements set out in Article 3 [RTS 25 on clock synchronization under article 50 of Directive 2014/65/EU ]. For transactions not executed on a trading venue, the date and time shall be when the parties agree the content of the following fields: quantity, price, currencies in fields 31, 34 and 44, instrument identification code, instrument classification and underlying instrument code, where applicable. For transactions not executed on a trading venue the time reported shall be at least to the nearest second. Where the transaction results from an order transmitted by the executing firm on behalf of a client to a third party where the conditions for transmission set out in Article 4 were not satisfied, this shall be the date and time of the transaction rather than the time of the order transmission.

Trading capacity

Indication of whether the transaction results from the executing firm carrying out matched principal trading under Article 4(38) of Directive 2014/65/EU or dealing on own account under Article 4(6) of Directive 2014/65/EU. Where the transaction does not result from the executing firm carrying out matched principal trading or dealing on own account, the field shall indicate that the transaction was carried out under any other capacity.

Quantity & Quantity currency

The number of units of the financial instrument, or the number of derivative contracts in the transaction. The nominal value of the financial instrument like bonds and bills. The monetary value of the financial instrument. For spread bets, the quantity shall be the monetary value wagered per point movement in the underlying financial instrument. For credit default swaps, the quantity shall be the notional amount for which the protection is acquired or disposed of. For increase or decrease in notional amount derivative contracts, the number shall reflect the absolute value of the change and shall be expressed as a positive number. The information reported in this field shall be consistent with the values provided in fields 33 and 46.

Quantity currency is only applicable if quantity is expressed as nominal or monetary value. The value represents in which the quantity is expressed.

Indication as to whether the transaction is an increase or decrease of notional of a derivative contract. Field only applies when there is change in notional for a derivative contract.

Price & Price currency

Traded price of the transaction excluding, where applicable, commission and accrued interest. In the case of option contracts, it shall be the premium of the derivative contract per underlying or index point. In the case of spread bets it shall be the reference price of the underlying instrument. For credit default swaps (CDS) it shall be the coupon in basis points. Where price is reported in monetary terms, it shall be provided in the major currency unit. Where price is currently not available but pending, the value shall be ’PNDG’. Where price is not applicable the value shall be 'NOAP'. The information reported in this field shall be consistent with the values provided in fields 30 and 46.

Currency in which the price is expressed. Only applicable if Price is expressed as monetary value.

Net amount

The net amount of the transaction means the cash amount which is paid by the buyer of the debt instrument upon the settlement of the transaction. This cash amount equals to: (clean price * nominal value) + any accrued coupons. As a result, the net amount of the transaction excludes any commission or other fees charged to the buyer of the debt instrument.

Field only applies when the financial instrument is debt (nominal value).

Country of the branch membership

Code used to identify the country of a branch of the investment firm whose market membership was used to execute the transaction. Where a branch’s market membership was not used, this field shall be populated with the country code of the home Member State of the investment firm or the country code of the country where the firm has established its head office or registered office (in the case of third country firms).

This field shall only be populated for the market side of a transaction executed on a trading venue or on an organised trading platform outside of the Union.

Instrument identification code

Code used to identify the financial instrument. This field applies to financial instruments for which a request for admission to trading has been made, that are admitted to trading or traded on a trading venue or on a systematic internaliser. It also applies to financial instruments which have an ISIN and are traded on organised trading platform outside of the Union where the underlying is a financial instrument traded on a trading venue.

Only instruments that are with an ISIN that exists on the reference data list from ESMA are supported by BFS / TRS Manager. This means that fields 42 - 56 are not supported, for more information see ESMA documentation.

Investment decision within firm

Code used to identify the person or algorithm within the investment firm who is responsible for the investment decision. For natural persons, the identifier specified in Article 6 shall be used. If the investment decision was made by an algorithm, the field shall be populated as set out in Article 8. Field only applies for investment decision within the firm. Where the transaction is for a transmitted order that has met the conditions for transmission set out in Article 4, this field shall be populated by the receiving firm within the receiving firm’s report using the information received from the transmitting firm.

Country code is used to identify the country of the branch of the investment firm for the person responsible for the investment decision, as set out in Article 14(3)(b). Where the person responsible for the investment decision was not supervised by a branch, this field shall be populated with the country code of the home Member State of the investment firm or the country code of the country where the firm has established its head office or registered office (in the case of third country firms). Where the transaction is for a transmitted order that has met the conditions for transmission set out in Article 4, this field shall be populated by the receiving firm within the receiving firm’s report using the information received from the transmitting firm. This field is not applicable when the investment decision was made by an algorithm.

Execution within firm

Code used to identify the person or algorithm within the investment firm who is responsible for the execution. For natural persons, the identifier specified in Article 7 shall be used. If the execution was made by an algorithm, the field shall be populated as set out in Article 9.

Country code is used to identify the country of the branch of the investment firm for the person responsible for the execution of the transaction, as set out in Article 14(3)(c). Where the person responsible was not supervised by a branch, this field shall be populated with the country code of the home Member State of the investment firm, or the country code of the country where the firm has established its head office or registered office (in the case of third country firms). This field is not applicable when the execution was made by an algorithm.

Waiver indicator

Indication as to whether the transaction was executed under a pre-trade waiver in accordance with Articles 4 and 9 of Regulation (EU) No 600/2014. If populated, one or more values can be selected.

For equity instruments:

• ‘RFPT’ = Reference price transaction
• ‘NLIQ’ = Negotiated transactions in liquid financial instruments
• ‘OILQ’ = Negotiated transactions in illiquid financial instruments
• ‘PRIC’ = Negotiated transactions subject to conditions other than the current market price of that equity financial instrument.

For non-equity instruments:

• ‘SIZE’ = Above specific size transaction
• ‘ILQD’ = Illiquid instrument transaction This field shall only be populated for the market side of a transaction executed under a waiver on a trading venue.

Short selling indicator

A short sale concluded by an investment firm on its own behalf or on behalf of a client, as described in Article 11. Where the transaction is for a transmitted order that has met the conditions for transmission set out in Article 4 of this Regulation, this field shall be populated by the receiving firm in the receiving firm’s reports using the information received from the transmitting firm. This field is only applicable when, the instrument is covered by Regulation (EU) No 236/2012, and the seller is the investment firm or a client of the investment firm. Only  values:

• ‘SESH’ - Short sale with no exemption
• ‘SSEX’ - Short sale with exemption
• ‘SELL’ - No short sale
• ‘UNDI’ – Information not available

When an investment firm executes a transaction on behalf of a client who is selling and the investment firm, acting on a best effort basis, cannot determine whether it is a short sale transaction, this field shall be populated with ‘UNDI’.

OTC post-trade indicator

Indicator as to the type of transaction in accordance with Articles 20(3)(a) and 21(5)(a) of Regulation (EU) No 600/2014. If populated, one or more values can be selected.

For all instruments:

• ‘BENC’ = Benchmark transactions
• ‘ACTX’ = Agency cross transactions
• ‘LRGS’ = Post-trade large-in-scale transactions
• ‘ILQD’ = Illiquid instrument transaction
• ‘SIZE’ = Above specific size transaction
• ‘CANC’ = Cancellations
• ‘AMND’ = Amendments

For equity instruments:

• ‘SDIV’ = Special dividend transactions
• ‘RPRI’ = Transactions which have received price improvement
• ‘DUPL’= Duplicative trade reports
• ‘TNCP’ = Transactions not contributing to the price discovery process for the purposes of Article 23 of Regulation (EU) No 600/2014

For non-equity instruments:

• ‘TPAC’ = Package transaction
• ‘XFPH’ = Exchange for Physical transaction

Securities financing transaction indicator

Indicates whether the transaction falls within the scope of activity to be reported under the Securities Financing Transactions Regulation. This is default set to true on all transactions imported from Bricknode Broker or Excel. Possible values are:

• ‘true’ = where the transaction falls within the scope of activity but is exempted from reporting under Securities Financing Transactions Regulation.
• ‘false’ = otherwise.