An OTF when acting on a matched principal basis is acting in a similar way as an Investment Firm and reports in a similar way as an Investment Firm. All parties dealing with the OTF and the OTF will report the Venue Field as the segment MIC of the OTF. An OTF acting on a matched principal basis matches a buy side order from one or more clients with a sell side orders from one or more clients.
Example 61
Investment Firm K, an OTF, with a LEI of OTFOTFOTFOTFOTFOTFOT and a segment MIC of OTFX, is acting on a matched principal basis and its algo with a code of ‘1234ABC’, matches a buy order for sovereign debt instruments from two Investment Firms, Firm X and Firm Y, with two sell orders from two other Investment Firms, Firm Z and Firm L. Investment Firm L has a LEI of 77777777777777777777.
Investment Firms X and Y are buying 300 and 100 sovereign debt instruments respectively and Investment Firms Z and L are selling 150 and 250 sovereign debt instruments respectively.
Investment Firms
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