MiFID II/MiFIR order flagging requirements: Short Code solution – Start of historical corrections daily report processing
025/2025 MiFID II/MiFIR order flagging requirements: Short Code solution – Start of historical corrections daily report processing Xetra Circular 025/25
1. Introduction
With this circular, we are confirming the announced start of the historical corrections (HC) daily report processing on 2 June 2025. The daily processing provides Trading Participants with their correction progress. The HC period started on 1 April 2025 and lasts until 31 March 2026.
HC reports in simulation: since 14 May 2025
HC reports in production: as of 2 June 2025
2. Required action
Trading Participants are required to download their individual correction scope, which is provided in the T7 XML Member Reports TR170 and TR171. The reports were initially provided on the 1 April 2025. After a two-month period the daily processing is commencing on 2 June 2025. The reports can be downloaded from the Common Report Engine (CRE) or in the Short Code and Algo ID upload GUI.
3. Details of the initiative
The T7 XML Member Reports TR170 “Short Code ID - Historical Correction Report” and TR171 “Short Code ID - Historical Long Code Correction Report” are designed to facilitate the task of historical Short Code correction. The Report TR170 will provide Trading Participants with their individual correction scope of historical Short Code final missings. The Report TR171 will provide Trading Participants with their individual correction scope of historical Short Code registrations, which have an incorrect Long Code.
The reports have been available in the simulation environment since 14 May 2025. The daily report processing of TR170 and TR171 will provide Trading Participants with their remaining HC correction scope which needs action, i.e. successful corrections are excluded. Negative validation results are documented in the TR160 “Short Code ID - Error Report” and successful corrections are documented in the TR169 “Short Code ID - Correction Report”. The correction period is scheduled for one year. The final submission deadline is 31 March 2026.
For the upload of these corrections, the regular upload file will be used. There is a new Common Upload Engine (CUE) service “EXTREFDH” available (also available in the Short Code and Algo ID upload GUI) for the upload of the Short Code registrations which have an incorrect Long Code.
Please find the dedicated “Historical Corrections User Guide” and further client documentation on the Xetra website www.xetra.com under the following path:
Further information