This extension pack includes enhancements needed to support the EU’s consolidated tape (CT) for bonds and equities defined by ESMA as part of the MiFIR Review Final Report – Technical Standards related to Consolidated Tape Providers and DRSPs.

Revision History

2026/01/07 – Removed new values 35,36,37,38 from RegulatoryReportType(1934) due to duplication with existing values 13,14,19,20. Added specification errata (see Chapter 8).

2025/11/21 – SPEC-2895, 2897, 2898  and 2900 – Corrected values for new messages added in EP300 to MsgType(35) and corrected pedigree of TradeVolume(1020) in MDIncGrp and NoMDEntries(268) in MDAckGrp and other minor edits.

MMT version 5.0

The FIX MMT Committees are currently working on delivering the FIX MMT v5.0.

This standard upgrade will cover the regulatory changes applicable to trade flags, as stated in the revised RTS 1, RTS 2 and unnumbered RTS on consolidated tape input/output in the EU.

The final MMT v5.0 data model will be published once the EU Commission has formally validated the ESMA recommendations. This validation is currently expected in May 2025, corresponding application date to be + 9 Months (February 2026) for the 1st batch of changes.

A summary of the expected changes was presented at the FIX EMEA Trading Conference 2025 (March 6) and can be found in the attached power point presentation.

Legal Disclaimer:

The information about anticipated changes to FIX MMT is based on current draft regulations and is not final. These details may change as the regulation undergoes further review and approval.

Please consider this information as preliminary and not legally binding. We will update you as more definitive information becomes available.

MMT version 4.2

This extension pack includes support for MMT level 1: More granular Market Mechanisms (‘Hybrid System’ and ‘Any Other excluding Hybrid’) for market data messages and MMT level 2: Trading Mode ‘On Demand Auction’ (Frequent Batched Auction) for trade reporting and market data messages.

This Extension Pack includes requirements for equities post-trade transparency as laid out in the UK FCA’s
policy statement PS 23/4 of May 2023, section 3 (https://www.fca.org.uk/publication/policy/ps23-
4.pdf).

Updates

9/22/2023 SPEC-2691 – Correct category attributes for new category SettlementStatusManagement

MMT version 4.1 includes:

• Changes to EU RTS 1 and RTS 2: application date Jan 1^st, 2024 (and part of MMT version 4.0).
• Features proposed by the FIX Trading Community’s consolidated tape working groups intended to complement the regulatory changes and enhance the quality and transparency of post-trade reported data (also part of MMT version 4.0).
• Changes to UK RTS 1: application date April 29^th, 2024.

This extension pack addresses requirements for MMT v4.0, especially for post-trade flags as identified by the European Consolidated Tape working groups (Equities and Fixed Income) and MMT Technical and Steering Committees.

Some introductory text

Version 4.0 of MMT covers changes to EU RTS 1 and RTS 2 that are expected to go live at the start of 2024. It also includes features proposed by the FIX Trading Community’s consolidated tape working groups intended to complement the regulatory changes and enhance the quality and transparency of post-trade reported data.