Question 2.1.35 Data Field (39)
The TRUM requires field 39 to be in the “major” unit to avoid “avoid unnecessarily large values”.
Is this necessary to stipulate?
Can we remove this recommendation as it will cause a layer of hard coding and translation that I do not believe is necessary and adds additional complication to our interface as the more things we hard code, the more things we potentially get mixed up.
The schema allows a 15+5 decimal number, so even if you report in the minor unit this allows 13 digits for a GBP or EUR amount – so a single trade of up to 9.9 trillion GBP, which is about the GDP of the whole of Europe for a year.
The current version of the TRUM is under revision and the description of field 39 will be amended to clarify this further. Reporting parties can report in the currency stored in their system, but only for notional amount and notional quantity. For prices displayed on the Organised Market Place’s screen, the unit visible to the market should be reported. This applies to both Quantity/Volume and Price.