4.7 Data fields related to lifecycle information
This section includes the following fields:
|Field No.||Field name||Traded on OMP - Orders||Traded on OMP - Trades||Traded outside OMP - BILCONTRACT||Traded outside OMP - EXECUTIONS|
M = mandatory; O = optional; - = does not apply; * = conditionally required; DV = default value specified in TRUM
Data Field (58) Action type
When the report contains:
|Description of Accepted Values||Type||Length||Examples|
This field identifies the type of action for the event that is being reported.
The first transaction of an order or trade should be a reported as “new”. Within a single trading day, there should only ever be one “new” action for a transaction. All subsequent transactions for that order or trade should either be reported as “modify”, “cancel” or “error”
Action type for reporting lifecycle events
Action type M (modify) shall be adopted in case a reporting party intentionally reports a modification representing a business event, for example modifying values of an order placed in the order book (e.g. price, quantity, hidden volumes, etc.) or to report a modification of an outstanding contract (e.g. modification of the delivery profile within the same Contract ID).
Action type C (cancel) shall be adopted in case a reporting party intentionally reports a business event that cancels an order in the order book or in case an existing contract is terminated (e.g. due to a novation).
Action type E (error) shall be adopted in case of erroneous reporting, due to wrong information being reported. Any corrections of the reported information using Action type E will result in a logical deletion of the order or trade record.
Additional information on how to correctly report the Action type: Annex VII to the TRUM
The Agency has published the Annex VII to the TRUM on how to correctly report lifecycle events of orders, trades and contracts. Market participants and reporting parties are expected to refer to this additional guidance and follow the instructions provided.