Implementation Guidelines

MiFID/MiFIR II Trade Reporting Implementation Guidelines
These guidelines provide guidance on implementing the requirements for post trade transparency (referred to in this document as ‘trade reporting’, being a generally accepted term). Much of this material is based on “Standards for the Consolidation of Trade Reports and Market Data in Europe” from the FIX EMEA Trade Data Standardisation Working Group, December 2013, with updates made to bring the text in line with the relevant MiFID II level 2 text (also included).

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MiFID/MiFIR II Trade Reporting Implementation Guidelines 729.57 KB 1510 downloads

Provides guidance on implementing the requirements for post trade transparency (referred to in this document as "trade reporting", being a generally accepted term).

UPDATED: 11/2017 v1.8

Create date: May 11, 2017

MiFID II Commission Unbundling Recommended Practices
This document describes the recommended best practices for specifying the research component of a commission, as required by MiFID II.

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FIX MiFID Commission Unbundling Recommended Practices 353.06 KB 486 downloads

v2.0

This document describes the recommended practices for specifying the research component of a commission, as required by MiFID II.

Create date: October 17, 2017

DRAFT Best Execution Implementation Guidelines – provides guidelines to explain which entities must report under these new requirements, what data they must publish, how often and provide clarity as to how these reports apply to different scenarios based on the entity, their role in the trading workflow and the trading model they employ.

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FIX MiFID Best Execution Implementation Guidelines 1.28 MB 1662 downloads

FINAL DRAFT - V35

Create date: October 10, 2017

DRAFT AFME_FIX Hand Offs Implementation Guidelines – provides guidelines to show the required information to be passed between parties for Order Data and Record Keeping purposes and the FIX mappings for these.

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AFME_FIX Hand Offs Implementation Guide 211.09 KB 421 downloads

Hands off Implementation Guide v29

Create date: May 10, 2017

DRAFT Inter-Firm Data Communication for Transaction Reporting Implementation Guidelines – The MiFID Transaction Reporting Working Group has prepared implementation guidelines for the communication of information between investment firms to facilitate transaction reporting requirements under MiFID II, please see attached.

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MiFID II/MiFIR Implementation Guidelines for Inter-Firm Data Communication for Transaction Reporting 1.02 MB 772 downloads

Version Published: 22 June 2017

Create date: June 22, 2017

Additional Guideline Collatoral

MiFID II Order Record Keeping Venue Subgroup – Short Code Standard
Provides details of the short code format as produced by Order Data & Record Keeping Venue Subgroup

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MiFID II Order Record Keeping Venue Subgroup - Short Code Standard 234.65 KB 311 downloads

Provides details of the short code format as produced by Order Data & Record Keeping Venue Subgroup

Create date: September 25, 2017

MiFID Trading Capacity & FIX Tag 29
Provides details on the usage of Tag 29 (Last Capacity) to meet requirements as defined by ESMA

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MiFID Trading Capacity & FIX Tag 29 33.18 KB 1375 downloads

MiFID Trading Capacity & FIX Tag 29

Create date: June 5, 2017

Recommendations for Algorithmic Testing Test Cases
The MiFID RTS places the obligation to test algorithms on the investment firm operating the algorithms. Though it is ultimately up to individual investment firms to determine how best to achieve this, the following guidelines have been prepared to assist investment firms in meeting these requirements.

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Recommendations for Algorithmic Testing Test Cases 453.50 KB 250 downloads

Recommendations for Algorithmic Testing Test Cases

Create date: December 29, 2015

DRAFT RTS1 Tree – produced by the FIX MiFID Transparency Subgroup
Provides details on cash equity trading scenarios and usage of the post trade transparency flags to satisfy ESMA requirements as per RTS1 guidelines.

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RTS1 Tree 53.45 KB 268 downloads

DRAFT version

Create date: May 8, 2017

DRAFT RTS2 Tree – produced by the FIX MiFID Transparency Subgroup
Provides details on fixed income and derivatives trading scenarios and usage of the post trade transparency flags to satisfy ESMA requirements as per RTS2 guidelines.

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RTS2 90.70 KB 199 downloads

DRAFT RTS2

Create date: May 8, 2017

DRAFT Mapping Tables – MiFID Fields to FIX Fields.

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Mapping Tables: MiFID Fields to FIX Fields 41.95 KB 1577 downloads

Mapping: MiFID fields to FIX fields

UPDATED: 11/2017 v1.5

Create date: July 20, 2017