Post launch implementation - Temporary validation of further Market Identification Codes (MIC) - update
Note: This announcement, originally published on 21 November 2019, was updated to confirm that the validation introduced with the Release November 2019 will be active again from 13 January 2020.
Following the Announcement D19036, Clearstream Banking AG, Frankfurt1 informs customers about the temporary validation of additional values not provided in the MIC (Market Identification Code) list effective since
Wednesday, 20 November 2019
Background
With the Release introduced on Monday, 18 November 2019, CBF launched a new validation for all applicable CBF instruction types supporting the field “Place of Trade / BOERSENPL”. According to the specification provided with the Announcement D19036, only values in the “ISO 10383 Market Identification Code (MIC)” list are allowed for further processing.
Following the implementation, however, customers required an expansion of the validation to ensure that further values can be considered by CBF, even though these are not compliant with the ISO norm. With this modification, CBF follows the customer’s request transmit additional values. Customers using ISO compliant MIC codes are not requested to perform modifications in instruction management with CBF and T2S.
Scope
Based on customer enquiries, CBF has taken short-term measures to provide a solution, which was introduced in the production environment for temporary usage on Wednesday, 20 November 2019.
As announced, the “Place of Trade” can optionally be provided by customers via the field “:94B::TRAD//EXCH”. Customers acting in ICP and / or DCP mode can transmit the following newly granted values with immediate effect:
- CEUC
- CLCH
- TRAI
The interim solution supports CBF customers acting in ICP and / or DCP mode managing their instructions. Customers already instructing in accordance with ISO standard 10383 are urged to not use any of the above-mentioned values.
Next steps
The interim solution regarding the validation of the further MIC values must be decommissioned so that CBF complies with the ISO standards. CBF will, as planned, retract the temporary validation of additional values after the updated MIC list has been made available for download beginning of January 2020. According to the SWIFT schedule, the delivery will take place on
Monday, 13 January 2020
On this business day, the validation introduced with the Release November 2019 will be reactivated.
Contact
Please contact our Client Services teams for questions regarding the functionality. Questions related to the technical connection can be addressed to our Connectivity Support teams. Particular questions related to the temporary validation of Market Identification Codes (MIC list) will be routed to the experts of the T2S Settlement Functionality team.
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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.