There is strong consensus on the need for an identifier of the execution source to improve the efficiency of brokerage calculations, and reduce manual effort on trade reconciliations. We hope to gather input from all parts of the industry on the best way to standardize the identification and use of an execution source code.
Date
15 Aug 2025
The FIA eTrading Committee, comprised of representatives from the electronic trading community globally formally responds to the DMIST Consultation Paper on Execution Source Code. Unless otherwise stated, the response is a summary of the view of this group after review of the Consultation Paper.
From an execution perspective, adopting an industry standard for defining execution sources across venues will reduce complexity and improve accuracy by removing manual mappings. Ensuring that accurate data is provided from upstream systems will enhance the process downstream.