Market Model Typology

The MMT (Market Model Typology) standard originated from a FESE exchange initiative in 2012, aiming at improving the consistency and comparability of data from different data sources. MMT is protocol agnostic. In order for the MMT standard to become more widely recognised and adopted, it has been placed under the the FIX Protocol Limited Trust. Since then, MMT has been developed together with a broader range of industry participants, including trading venues, data vendors and data users, and has expanded into new asset classes besides equities only.

The MMT standard provides for a common, practical and efficient solution for flagging post-trade data across various venues, and various asset classes. It delivers an efficient operational solution for fulfilling trade flagging requirements as raised in MiFIR/MiFID II (RTS 1 and RTS2).

MMT v3.04 is the valid standard since MiFIR/MiFID II application in 2018. To support changes in both EU and UK regulation made since then, we have introduced new versions of MMT. MMT v4.0 incorporates the latest changes in trade flagging requirements originating from recent ESMA consultations on RTS 1 and 2 (effective 1st January 2024), plus a number of industry recommended practices. MMT v4.1 includes support for changes to RTS 1 in the UK as per the FCA’s policy statement PS23/4 (effective 29th April 2024).

In case you may have any questions regarding MMT, please email: fix@fixtrading.org

 

MMT Steering Committee

Committee Page

MMT Technical Committee

Committee Page

MMT Adopters

Click Here

Documents

Click the below links to access more detailed information.

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MMT Model Version 4.1

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MMT Model Version 4.0

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MMT Model Version 3.04

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Resources

(Please note you must be logged in to the site to view these documents.  Registration is free, click here to register.)

Below please find links to MMT related extension packs. Extension Packs are created as a result of FIX community market-driven initiatives that have undergone a thorough public review process.

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