Trading

What does the message "MIFIR 2 account does not have short code assigned" mean?

MiFiR II refers to reporting obligations for products traded in countries in the European Economic Area (EEA). Under the MiFiR regulatory rules, investment firms are required to include a unique identifier which is assigned to the individual or algorithm that is responsible for making investment decisions related to products which trade in the EEA.

As such, the rejection message is due to client's entering orders for products in which the code or identifier is not yet assigned. When you request trading permissions for a product that falls within the scope of MiFIR regulatory umbrella, a form requesting you to provide required information should be presented to you upon log in to Client Portal/Account Management.

Please try to log in to Client Portal/Account management and complete the required tasks presented to you.

In case you do not see any task, please contact MEXEM Client Services providing information about the error message that you see and which product you are trying to place an order on.

Additional information on: which products fall under the MiFiR regulatory umbrella can be found in our Knowledge Base.

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