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The following table shows for which order capacity which field is mandatory, if the requirements are not met the order will be rejected.
| MiFID II Trading Capacity | Kodiak OMS Order Capacity | Client Identification code | Investment decision within firm | Execution decision within firm |
|---|---|---|---|---|
| DEAL | Own Account, Market Maker | Optional | Mandatory | Mandatory |
| MTCH | Riskless | Mandatory | Optional | Mandatory |
| AOTC | Client, Issuer Holding, Issuer Price Stabilizing | Mandatory | Optional | Mandatory |
Mapping between Kodiak OMS order capacity and MiFID II trading capacity
| Kodiak OMS Order Capacity | Order Capacity Description | MiFID II Trading Capacity |
|---|---|---|
Client | Agent | AOTC |
| Own Account | Principal | DEAL |
| Market Maker | Acting as Market Maker or Specialist | DEAL |
| Issuer Holding | Issuer holding | AOTC |
| Issue Price Stabilizing | Issue Price Stabilization | AOTC |
| n/a | Agent + liquidity provision | AOTC |
| n/a | Riskless principal | MOTC MTCH |
| n/a | Riskless principal + liquidity provision | MOTC MTCH |
Client Identification Code
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