MiFID II / MiFIR Flagging Requirements
Proprietary accounts (ESMA trading capacity DEAL)
Flagging options | Execution Decision | Execution Qualifier | Investment Decision | Investment Qualifier | Client ID |
|---|---|---|---|---|---|
Execution and investment decision taken by an algo | Algo ID | 22 (for an algo) | Algo ID | (for an algo) | - |
Execution decision taken by an algo. Investment decision taken by the trader or another person within the member firm. | Algo ID | 22 (for an algo) | Short code for the National ID of the trader/person | (for a natural person) | - |
Execution decision taken by the trader or another person within the member firm. Investment decision taken by an algo.q | Short code for the National ID of the trader/person | 24 (for a natural person) | Algo ID | (for an algo) | - |
Execution and investment decision are both taken by the trader or another person within the member firm. | Short code for the National ID of the trader/person | 24 (for a natural person) | Short code for the National ID of the trader/person | (for a natural person) | - |
Agent account (ESMA trading capacity AOTC) and riskless principal account (ESMA trading capacity MTCH); client ID mandatory
Flagging options | Execution Decision | Execution Qualifier | Investment Decision | Investment Qualifier | Client ID |
|---|---|---|---|---|---|
Execution and investment decision taken by an algo | Algo ID | 22 (for an algo) | Algo ID | 22 (for an algo) | Short code for LEI or National ID, PNAL or AGGR |
Execution decision taken by an algo. Investment decision taken by the trader or another person within the member firm. | Algo ID | 22 (for an algo) | Short code for the National ID of the trader/person | 24 (for a natural person) | Short code for LEI or National ID, PNAL or AGGR |
Execution decision not taken within the member firm. Investment decision taken by an algo. | Short code for NORE | 24 (for a natural person) | Algo ID | 22 (for an algo) | Short code for LEI or National ID, PNAL or AGGR |
Execution decision not taken within the member firm. Investment decision taken by the trader or another person within the member firm. | Short code for NORE | 24 (for a natural person) | Short code for the National ID of the trader/person | 24 (for a natural person) | Short code for LEI or National ID, PNAL or AGGR |
Execution decision and investment decision not taken within the investment firm. | Short code for NORE | 24 (for a natural person) | Empty | Empty | Short code for LEI or National ID, PNAL or AGGR |
Execution decision taken by the trader or another person within the member firm. Investment decision taken by an algo. | Short code for the National ID of the trader/person | 24 (for a natural person) | Algo ID | 22 (for an algo) | Short code for LEI or National ID, PNAL or AGGR |
Execution and investment decision are both taken by the trader or another person within the member firm. | Short code for the National ID of the trader/person | 24 (for a natural person) | Short code for the National ID of the trader/person | 24 (for a natural person) | Short code for LEI or National ID, PNAL or AGGR |
Execution decision taken by a person of the member firm other than the trader or the trader and the investment decision not taken within the investment firm. | Short code for the National ID of the trader/person | 24 (for a natural person) | Empty | Empty | Short code for LEI or National ID, PNAL or AGGR |
Execution decision taken by an algo and the investment decision not taken within the investment firm. | Algo ID | 22 (for an algo) | Empty | Empty | Short code for LEI or National ID, PNAL or AGGR |
Flagging options | Execution Decision | Execution Qualifier | Investment Decision | Investment Qualifier | Client ID |
|---|---|---|---|---|---|
Investment and execution decisions not taken within the participant firm. | Short code for NORE | 22 (for a natural person) | Empty | Empty | Short code for LEI or National ID |