Should the BIC code be entered in the market participant registration form only if it belongs to the market participant i.e. the market participant is a Bank? Hence, it is not the BIC code where the market participant has a bank account?
According to Agency Decision No 01/2012, the definition of field 114 foresees that the BIC code should contain the Bank Identifier Code of the Market Participant (only if available). Please note that the BIC code can be attributed to financial and non-financial institutions. The list of BIC codes can be accessed via http://www.swift.com/bsl/. The BIC code of the bank where the market participant has its bank account is not a unique code issued for a market participant as it belongs to the bank (not to the market participant) and thus it should not be provided.
Last update: 30/06/2015
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