4. The instrument

Instruments with an ISIN

If the instrument has an ISIN in the FCA's instrument reference data (FIRDS), give the ISIN in the instrument_isin column and leave the instrument name and CFI blank. This covers listed shares, bonds, exchange-traded funds and listed derivatives. The ISIN must have been valid on the trade date. We check every ISIN against FIRDS for its trade date and warn you before sending if it was not: an expired future or a matured bond, for example. If you know the report is right, such as a back report of an old trade, you can send it anyway with a reason. For an instrument with no ISIN, or one not in FIRDS, we then check whether the trade is in scope another way: an underlying instrument (or any member of a basket) that is in FIRDS, or an underlying index. Only if none of these applies do we warn that the trade may not be reportable, and again you can send it anyway with a reason.

Instruments without one

Over-the-counter derivatives such as CFDs and spread bets usually have no ISIN of their own. Never give the underlying share's ISIN as the instrument's: that reports a trade in the share itself, and no check can tell the difference. Put it in underlying_isin, and describe the instrument instead:

Column	What to give	Example
`instrument_name`	A clear description	UK 100 CFD
`instrument_cfi`	The six-letter CFI code	JEIXCC
`notional_currency`	The contract's currency	GBP
`price_multiplier`	Units of underlying per contract	1
`underlying_isin`	The ISIN of what it is based on	GB0001383545
`underlying_index_name`	For an index, its name	FTSE 100

For a derivative on a basket, list the underlying ISINs separated by the vertical bar character, |.

We work out the option type, exercise style and delivery type from the CFI code, so the template does not ask for them.

Venue

The venue column says where the trade happened:

Situation	Venue
Executed on a trading venue under your own membership	The venue's segment MIC, e.g. `XLON`
Through a broker, including its DMA or DEA service	`XOFF`
Bought or sold with a systematic internaliser (SI) acting as one for your trade	The SI's MIC (`XOFF` if you cannot tell)
The instrument is on a venue, but your trade was not	`XOFF`
A contract on an exchange outside the UK and EU, such as a CME future	That exchange's MIC under your own membership. Through a broker, `XXXX` if it has no ISIN (most do not), `XOFF` if it has one
The instrument is on no venue (most CFDs)	`XXXX`

Quantity and price

Shares: quantity in units (UNIT), price in money (MONE) with its currency.
Bonds: quantity in nominal value (NOML) with its currency, price usually as a percentage (PCTG), and the net_amount.
CFDs: quantity in units (UNIT), the number of contracts, with no quantity currency; price in money (MONE) with its currency.
Spread bets: quantity as money (MONE), the stake per point, with its currency; price often in index points (BPTS), with no price currency.
Sterling prices are in pounds: 245p is 2.45 with currency GBP.

Previous: 3. Buyer and seller · Next: 5. Decisions in your firm

Another question? Ask your own AI assistant: tell it to read basicreporting.com/llms-full.txt.