4.7 Data fields related to lifecycle information

Transaction Reporting User Manual (TRUM)

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
58 Action type M M M M

M = mandatory; O = optional; - = does not apply; * = conditionally required; DV = default value specified in TRUM

Data Field (58) Action type

No. Field Identifier Description
58 Action type

When the report contains:

  • a contract or an order to trade for the first time, it will be identified as 'new';
  • a modification of details of a previous report, it will be identified as 'modify';
  • a cancellation of a wrongly submitted report, it will be identified as 'error';
  • a termination of an existing contract or order to trade, it will be identified as 'cancel';
Description of Accepted Values Type Length Examples
  • N=New
  • M=Modify
  • E=Error
  • C=Cancel
 Text 1 N

This field identifies the type of action for the lifecycle event that is being reported.

The first order or trade record shall be a reported as “New”. Within a single trading day, there should only be one “New” action for a trade. All subsequent order or trade reports should either be reported as “Modify”, “Cancel” or “Error”.

The Agency has published 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.

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.

Updated: 
16/11/2022