Market Model Typology

The MMT (Market Model Typology) Initiative is a collaborative effort established by a broad range of industry participants (trading/reporting venues, data vendors and buy/sell side participants). The initiative is committed to achieving a practical and common solution for standards on post-trade data across all asset classes subject to MiFID II. The initiative unites a variety of industry participants in the basic belief that we can and should act without any further delay to improve the consistency and comparability of data from different sources.

To achieve this goal, we have developed the Market Model Typology (MMT) project, which found its original inspiration in the 2010 CESR Technical Working Group recommendations. The latest MMT version delivers an efficient operational solution for fulfilling trade flagging requirements raised in MiFID II RTS 1 and RTS2. The model is available for immediate adoption and can be used by vendors and clients. In addition to the work on standards for RMs and MTFs, we continue to attract wide-ranging industry support for the standards and are working to expedite their broad implementation, notably to define OTC trading reporting rules.

In order for the MMT standards to become more widely recognised and adopted, in 2013 the MMT Steering Committee voted to bring the initiative under the jurisdiction of the FIX Protocol Limited Trust (Trust). With its long-established and respected values and governance standards, the Trust will oversee the management and development of the standard.
If you have any questions regarding the MMT or would like to submit technical changes (please use the downloadable MMT Change Request submission form, see below), please email:

Use the following link to watch an MMT 101 video.:



2019 Yearly Progress Report - MMT 345.14 KB 408 downloads June 17, 2020

MMT Steering Committee

Committee Page

MMT Technical Committee

Committee Page

MMT Adopters

Click Here


Click the below links to access more detailed information.


MMT Initiative Presentation v3.04 685.87 KB 2149 downloads November 29, 2017

An introductory presentation to the Market Model Typology initiative.v3.04

MMT Model Version 3.04


MMT Initiative Mapping Matrix v3.04 144.73 KB 6811 downloads July 21, 2017

UPDATED: 11/2017


MMT FAQ Document v3.04 550.91 KB 1112 downloads April 19, 2018

Update date: 01/2020

    MMT Model Version 3.03


    MMT Initiative Mapping Matrix v3.03 135.54 KB 405 downloads May 17, 2017

      MMT Model Version 3.02


      MMT Initiative Mapping Matrix v3.02 140.29 KB 456 downloads March 17, 2017

        MMT Model Version 3.01


        MMT FAQ Document v3.01 575.99 KB 871 downloads January 20, 2017

        FAQ Document


        MMT Initiative Guide v3.01 1.12 MB 510 downloads January 20, 2017

        Version 3.01


        MMT Initiative Mapping Matrix v3.01 133.88 KB 251 downloads January 20, 2017

          MMT Model Version 2.2


          MMT Initiative Guide v2.2 671.78 KB 266 downloads December 3, 2014

          Version 2.2


          MMT Initiative Mapping Matrix v2.2 154.17 KB 353 downloads January 16, 2015

          Includes display codes

            MMT Model Version 2.0


            MMT Initiative Mapping Matrix v2.0 40.00 KB 221 downloads December 16, 2012

            MMT Initiative Mapping Matrix v2.0


            MMT Trade Flag Mapping Guide v2.060 1.01 MB 497 downloads June 25, 2014

            Version 2.060


            MMT FAQ Document v1.3 606.36 KB 222 downloads September 10, 2014

            Version 1.3


            MMT spec add-on Template 53.47 KB 181 downloads February 16, 2017

            add-on Template


            MMT v2.0 CR Submission Form 128.60 KB 147 downloads February 16, 2017

            Submission Form

              MMT Model Version 1.1 Mapping Guide


              MMT Initiative Trade Flag Mapping Guide v1.02 1.82 MB 296 downloads February 16, 2017

              Version 1.02

                MMT Model Version v1.0


                MMT FAQ Document v1.1 388.79 KB 233 downloads January 16, 2012

                Version 1.1.


                MMT Change Management Process 98.93 KB 244 downloads May 16, 2012

                MMT Change Management Process


                MMT Initiative Mapping Matrix v1.0 18.23 KB 302 downloads February 16, 2017

                Version 1.0


                  (Please note you must be logged in to the site to view these documents.  Registration is free, click here to register.)

                  Below please find links to MMT related extension packs. Extension Packs are created as a result of FIX community market-driven initiatives that have undergone a thorough public review process.


                  EP216 MMTv3 Support 19.47 KB 141 downloads September 30, 2016

                  This Extension Pack supports MMT version 3.01 and the MiFID II post-trade flagging obligations. Update History [Resolved 2017-04-24] Corrected abbreviated name of TrdRegPublicationGrp and TrdRegPublicationType(2669)...

                  EP163 Market Model Topology (MMT) Extensions 2.49 MB 76 downloads June 20, 2017

                  This Extension Pack provides enhancements to FIX to support the MMT requirements established by the FESE for data consolidation. [UPDATED 2013-12-09] Updated FIXML Schema and FIX Repository due to updates...

                  EP186 – MMT Flagging of OTC Trades 2.47 MB 70 downloads June 20, 2017

                  This Extension Pack introduces a new field to facilitate an explicit distinction between automated and manual trades in support of sell-side’s requirements found in the Market Model Typology (MMT) version...