Configurations

MiFID configurations

• To enable the KODIAK MiFID system with KODIAK Oms change to “EnableMifid” setting to “true”

  ../KodiakOrderEntryServer/Config/Environment/appSettings.config <add key="EnableMifid" value="true" /> ....

• To configure how KODIAK Oms interacts with the results from the KODIAK MiFID system the following config can be changed

  ../KodiakOrderEntryServer/Config/AllocationPolicy.config <!-- Suitability will not be required when this value is false --> <property name="MifidRequireSuitability" value="true" /> <!-- Used in conjunction with MifidRequireSuitability. When this value is true then a dialog will appear which the user can provide a reason to override suitability --> <property name="MifidAllowOverrideWithComment" value="true" />

  • When “MifidRequireSuitability” is set to “true” Client Orders cannot be sent or allocated for customers that do not pass the suitability test in the KODIAK MiFID system.

  • “MifidAllowOverrideWithComment” allows to send/allocate Client Orders for customers that do not pass the suitability test but must write a comment that is saved to the database.

Shortcode check

Customer has MiFID II values LEI Code, National ID and Is Legal Entity.

• To comply with the Order Record Keeping in MiFID II customers in the Kodiak database have LEI Code and National ID (longcodes).

Check for  if Customers have LEI Code or National ID before sending orders to the market

• Configurable to stop or show warning when sending orders with Customers that do not have LEI Code or National ID in the Kodiak database. It is configurable to enable or disable this feature and whether to show warning or error when sending order to the Market. It is also possible to exclude markets in this check, since MiFID II and the Order Record Keeping is not mandatory in the Icelandic markets yet. The customer attached to the order is the Customer in the new MiFID II Order Entry Fields, either in the "Client" textbox in the market order entry window or the chosen customer in the client order entry window.

  • The configuration is located in C:\KodiakOrderEntryServer\Server.config in ClientSettings - <object id="ClientSettings" type="Kodi.Kodiak.Services.DataContracts.ClientSettings, Kodi.Kodiak.Services.DataContracts">

  • EnableCustomerLongcodeCheck - <property name="EnableCustomerLongcodeCheck" value="true" />

    • If configured "true" then the check will be performed,

    • if configured "false" the the check will not be performed.

  • ErrorOnMissingCustomerLongcode - <property name="ErrorOnMissingCustomerLongcode" value="true"/>

    • If configured "true" then it is not possible to send orders to the market with an Customer that does not have LEI Code or National ID (longcode). An error message will be displayed in the Kodiak OMS Client when the order is sent.

    • If configured "false" then the Kodiak OMS Client will display a warning message that the attached Customer does not have LEI Code or National ID (longcode). The user will be prompted whether he/she wants to send the order to the market.

  • IgnoreLongcodeMarketNames - <property name="IgnoreLongcodeMarketNames" value="Nasdaq Iceland hf.;First North Iceland"/>

    • Here it is possible to set the excluded markets for the check separated by a semicolon ";". The value must be the name of the Exchange (name column) in the Exchanges table in the Kodiak database.