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FAQs on transaction reporting – Question II.2.1.13

Data Field (15)

Reference to documentation: REMIT Transaction Reporting User Manual

What order status should be given when reporting “Stop-loss” when it is not activated?

Example:

The TRUM does not contain any examples of reporting “Stop-loss” order whereas it is quite commonly used by market participants.

Because “Stop-loss” order before its activation is not visible in the order book of the organised market place it cannot be reported as ACT (active). Should it be reported in the field “Order status” as SUS (Suspended) or OTH (Other)?


Answer:

Orders have to be reported when they are visible to the market. This means that in some circumstances they may not be visible to the market and they are not reportable. Once triggered and visible to the market, these orders are reportable with the information that triggered and made them active in the market.

If a “Stop-loss” order is not activated and not visible in the order book of the Organised Market Place, it cannot be reported as active (ACT). Once the order is triggered, this will be reported with the following information:

Once the market order is triggered at 50 EUR and it is entered into the market

  Order details  
13 Order ID I4R9Q3Q6K3D2C1J5O0H8
14 Order type MAR
15 Order Condition SLO
16 Order Status ACT
17 Minimum Execution Volume
18 Price Limit
19 Undisclosed Volume
20 Order Duration GTC
58 Action type N

 

and in the XML file:

<triggerDetails>

<priceLimit>

<value>50</value>

<currency>EUR</currency>

</priceLimit>

</triggerDetails>

Or, if the order was a Price Limit order:

  Order details  
13 Order ID I4R9Q3Q6K3D2C1J5O0H8
14 Order type LIM
15 Order Condition SLO
16 Order Status ACT
17 Minimum Execution Volume
18 Price Limit 50
19 Undisclosed Volume
20 Order Duration GTC
58 Action type N

 

and in the XML file:

<triggerDetails>

<priceLimit>

<value>50</value>

<currency>EUR</currency>

</priceLimit>

</triggerDetails>

The Agency understands that there may be other combinations of order types and order conditions that may require additional guidance. This can be provided on an ad-hoc basis.

Last update: 20/07/2018   RSS_Icon Subscribe to this Page’s RSS