We would like to inform you of an important update regarding the Trade Venue Transaction Identification Code (TVTIC) for Securities transactions executed on TP ICAP venues.

From the end of January 2026, we are updating the TVTIC field for all transactions in Securities with a new standardised format across TP ICAP venues. For transactions in Securities contracts, the TP ICAP TVTIC will be constructed by the following fields:

Trade Date + System ID + Segment MIC + TradelinkID: e.g. 20251117300TSGI000000000003039215V0

TP ICAP Solutions Delivery will be contacting clients’ Technology teams who connect to our proprietary post trade service Post:Marker to discuss the impact and testing schedule. They will also provide assistance to clients who wish to validate the changes made by the third-party vendors (e.g. Bloomberg) who supply post trade services. Any questions you may have can be directed to the Solutions Delivery team.

The respective updates to the format of the Securities TVTIC are scheduled to be released into production on the 31st January 2026, post any year-end change freezes.

As a reminder, following the EMIR Refit changes implemented in April 2024, for transactions in Derivative contracts, the TP ICAP TVTIC is constructed by the following fields (Global UTI):

LEI of the generating entity + unique code: e.g. 213800R54EFFINMY1P0220251118031100000000000008476111

For any queries relating to TP ICAP’s changes for Securities TVTIC, please reach out to the respective teams:

TP ICAP Venue Governance Contact: ukvenuegovernance@tpicap.com and/or euvenuegovernance@tpicap.com

TP ICAP Solutions Delivery Team: solutionsdeliveryemea@tpicap.com

We would like to inform you of an important update regarding the Trade Venue Transaction Identification Code (TVTIC) for Securities transactions executed on TP ICAP venues.

From the end of January 2026, we are updating the TVTIC field for all transactions in Securities with a new standardised format across TP ICAP venues. For transactions in Securities contracts, the TP ICAP TVTIC will be constructed by the following fields:

Trade Date + System ID + Segment MIC + TradelinkID: e.g. 20251117300TSGI000000000003039215V0

TP ICAP Solutions Delivery will be contacting clients’ Technology teams who connect to our proprietary post trade service Post:Marker to discuss the impact and testing schedule. They will also provide assistance to clients who wish to validate the changes made by the third-party vendors (e.g. Bloomberg) who supply post trade services. Any questions you may have can be directed to the Solutions Delivery team.

The respective updates to the format of the Securities TVTIC are scheduled to be released into production on the 31st January 2026, post any year-end change freezes.

As a reminder, following the EMIR Refit changes implemented in April 2024, for transactions in Derivative contracts, the TP ICAP TVTIC is constructed by the following fields (Global UTI):

LEI of the generating entity + unique code: e.g. 213800R54EFFINMY1P0220251118031100000000000008476111

For any queries relating to TP ICAP’s changes for Securities TVTIC, please reach out to the respective teams:

TP ICAP Venue Governance Contact: ukvenuegovernance@tpicap.com and/or euvenuegovernance@tpicap.com

TP ICAP Solutions Delivery Team: solutionsdeliveryemea@tpicap.com

We would like to inform you of an important update regarding the Trade Venue Transaction Identification Code (TVTIC) for Securities transactions executed on TP ICAP venues.

From the end of January 2026, we are updating the TVTIC field for all transactions in Securities with a new standardised format across TP ICAP venues. For transactions in Securities contracts, the TP ICAP TVTIC will be constructed by the following fields:

Trade Date + System ID + Segment MIC + TradelinkID: e.g. 20251117300TSGI000000000003039215V0

TP ICAP Solutions Delivery will be contacting clients’ Technology teams who connect to our proprietary post trade service Post:Marker to discuss the impact and testing schedule. They will also provide assistance to clients who wish to validate the changes made by the third-party vendors (e.g. Bloomberg) who supply post trade services. Any questions you may have can be directed to the Solutions Delivery team.

The respective updates to the format of the Securities TVTIC are scheduled to be released into production on the 31st January 2026, post any year-end change freezes.

As a reminder, following the EMIR Refit changes implemented in April 2024, for transactions in Derivative contracts, the TP ICAP TVTIC is constructed by the following fields (Global UTI):

LEI of the generating entity + unique code: e.g. 213800R54EFFINMY1P0220251118031100000000000008476111

For any queries relating to TP ICAP’s changes for Securities TVTIC, please reach out to the respective teams:

TP ICAP Venue Governance Contact: ukvenuegovernance@tpicap.com and/or euvenuegovernance@tpicap.com

TP ICAP Solutions Delivery Team: solutionsdeliveryemea@tpicap.com

We would like to inform you of an important update regarding the Trade Venue Transaction Identification Code (TVTIC) for Securities transactions executed on TP ICAP venues.

From the end of January 2026, we are updating the TVTIC field for all transactions in Securities with a new standardised format across TP ICAP venues. For transactions in Securities contracts, the TP ICAP TVTIC will be constructed by the following fields:

Trade Date + System ID + Segment MIC + TradelinkID: e.g. 20251117300TSGI000000000003039215V0

TP ICAP Solutions Delivery will be contacting clients’ Technology teams who connect to our proprietary post trade service Post:Marker to discuss the impact and testing schedule. They will also provide assistance to clients who wish to validate the changes made by the third-party vendors (e.g. Bloomberg) who supply post trade services. Any questions you may have can be directed to the Solutions Delivery team.

The respective updates to the format of the Securities TVTIC are scheduled to be released into production on the 31st January 2026, post any year-end change freezes.

As a reminder, following the EMIR Refit changes implemented in April 2024, for transactions in Derivative contracts, the TP ICAP TVTIC is constructed by the following fields (Global UTI):

LEI of the generating entity + unique code: e.g. 213800R54EFFINMY1P0220251118031100000000000008476111

For any queries relating to TP ICAP’s changes for Securities TVTIC, please reach out to the respective teams:

TP ICAP Venue Governance Contact: ukvenuegovernance@tpicap.com and/or euvenuegovernance@tpicap.com

TP ICAP Solutions Delivery Team: solutionsdeliveryemea@tpicap.com

We would like to inform you of an important update regarding the Trade Venue Transaction Identification Code (TVTIC) for Securities transactions executed on TP ICAP venues.

From the end of January 2026, we are updating the TVTIC field for all transactions in Securities with a new standardised format across TP ICAP venues. For transactions in Securities contracts, the TP ICAP TVTIC will be constructed by the following fields:

Trade Date + System ID + Segment MIC + TradelinkID: e.g. 20251117300TSGI000000000003039215V0

TP ICAP Solutions Delivery will be contacting clients’ Technology teams who connect to our proprietary post trade service Post:Marker to discuss the impact and testing schedule. They will also provide assistance to clients who wish to validate the changes made by the third-party vendors (e.g. Bloomberg) who supply post trade services. Any questions you may have can be directed to the Solutions Delivery team.

The respective updates to the format of the Securities TVTIC are scheduled to be released into production on the 31st January 2026, post any year-end change freezes.

As a reminder, following the EMIR Refit changes implemented in April 2024, for transactions in Derivative contracts, the TP ICAP TVTIC is constructed by the following fields (Global UTI):

LEI of the generating entity + unique code: e.g. 213800R54EFFINMY1P0220251118031100000000000008476111

For any queries relating to TP ICAP’s changes for Securities TVTIC, please reach out to the respective teams:

TP ICAP Venue Governance Contact: ukvenuegovernance@tpicap.com and/or euvenuegovernance@tpicap.com

TP ICAP Solutions Delivery Team: solutionsdeliveryemea@tpicap.com

We would like to inform you of an important update regarding the Trade Venue Transaction Identification Code (TVTIC) for Securities transactions executed on TP ICAP venues.

From the end of January 2026, we are updating the TVTIC field for all transactions in Securities with a new standardised format across TP ICAP venues. For transactions in Securities contracts, the TP ICAP TVTIC will be constructed by the following fields:

Trade Date + System ID + Segment MIC + TradelinkID: e.g. 20251117300TSGI000000000003039215V0

TP ICAP Solutions Delivery will be contacting clients’ Technology teams who connect to our proprietary post trade service Post:Marker to discuss the impact and testing schedule. They will also provide assistance to clients who wish to validate the changes made by the third-party vendors (e.g. Bloomberg) who supply post trade services. Any questions you may have can be directed to the Solutions Delivery team.

The respective updates to the format of the Securities TVTIC are scheduled to be released into production on the 31st January 2026, post any year-end change freezes.

As a reminder, following the EMIR Refit changes implemented in April 2024, for transactions in Derivative contracts, the TP ICAP TVTIC is constructed by the following fields (Global UTI):

LEI of the generating entity + unique code: e.g. 213800R54EFFINMY1P0220251118031100000000000008476111

For any queries relating to TP ICAP’s changes for Securities TVTIC, please reach out to the respective teams:

TP ICAP Venue Governance Contact: ukvenuegovernance@tpicap.com and/or euvenuegovernance@tpicap.com

TP ICAP Solutions Delivery Team: solutionsdeliveryemea@tpicap.com

We would like to inform you of an important update regarding the Trade Venue Transaction Identification Code (TVTIC) for Securities transactions executed on TP ICAP venues.

From the end of January 2026, we are updating the TVTIC field for all transactions in Securities with a new standardised format across TP ICAP venues. For transactions in Securities contracts, the TP ICAP TVTIC will be constructed by the following fields:

Trade Date + System ID + Segment MIC + TradelinkID: e.g.20251117300TSGI000000000003039215V0

TP ICAP Solutions Delivery will be contacting clients’ Technology teams who connect to our proprietary post trade service Post:Marker to discuss the impact and testing schedule. They will also provide assistance to clients who wish to validate the changes made by the third-party vendors (e.g. Bloomberg) who supply post trade services. Any questions you may have can be directed to the Solutions Delivery team.

The respective updates to the format of the Securities TVTIC are scheduled to be released into production on the 31st January 2026, post any year-end change freezes.

As a reminder, following the EMIR Refit changes implemented in April 2024, for transactions in Derivative contracts, the TP ICAP TVTIC is constructed by the following fields (Global UTI):

LEI of the generating entity + unique code: e.g. 213800R54EFFINMY1P0220251118031100000000000008476111

For any queries relating to TP ICAP’s changes for Securities TVTIC, please reach out to the respective teams:

TP ICAP Venue Governance Contact: ukvenuegovernance@tpicap.com and/or euvenuegovernance@tpicap.com 

TP ICAP Solutions Delivery Team: solutionsdeliveryemea@tpicap.com

iSwap Euro Limited will be closed for business at 12:30 (UK) on 24th December and also 31st December 2025

Please direct any questions regarding this Market Notice to:

Email: i-swap@icap.com

Post: 

iSwap Euro Ltd
TP ICAP Group plc
135 Bishopsgate
London
UK
EC2M 3TP

iSwap Euro BV will be closed for business on 24th December and 31st December 2025.

Please direct any questions regarding this Market Notice to:

Email: i-swap@icap.com 

Post: 

iSwap Euro B.V. 

Vijzelstraat 68 unit 109, 

1017HL, 

Amsterdam

“In “PS24/14: Improving transparency for bond and derivatives markets”, the FCA set out changes to requirements for disclosure of orders and trades in bond and derivative markets in the UK. One of those changes was to grant trading venue operators, such as TP ICAP, discretion to set transparency parameters, such as the large in scale (LIS) threshold, at the venue level. This discretion applies in respect of instruments within the FCA’s “category 2”, which includes non-standardised derivatives. The change comes into force on 1 December 2025. For all category 2 instruments on TP ICAP venues in the UK, until further notice TP ICAP will maintain the same parameters as had been set by the FCA prior to 1 December.”

“In “PS24/14: Improving transparency for bond and derivatives markets”, the FCA set out changes to requirements for disclosure of orders and trades in bond and derivative markets in the UK. One of those changes was to grant trading venue operators, such as TP ICAP, discretion to set transparency parameters, such as the large in scale (LIS) threshold, at the venue level. This discretion applies in respect of instruments within the FCA’s “category 2”, which includes non-standardised derivatives. The change comes into force on 1 December 2025. For all category 2 instruments on TP ICAP venues in the UK, until further notice TP ICAP will maintain the same parameters as had been set by the FCA prior to 1 December.”

“In “PS24/14: Improving transparency for bond and derivatives markets”, the FCA set out changes to requirements for disclosure of orders and trades in bond and derivative markets in the UK. One of those changes was to grant trading venue operators, such as TP ICAP, discretion to set transparency parameters, such as the large in scale (LIS) threshold, at the venue level. This discretion applies in respect of instruments within the FCA’s “category 2”, which includes non-standardised derivatives. The change comes into force on 1 December 2025. For all category 2 instruments on TP ICAP venues in the UK, until further notice TP ICAP will maintain the same parameters as had been set by the FCA prior to 1 December.”

“In “PS24/14: Improving transparency for bond and derivatives markets”, the FCA set out changes to requirements for disclosure of orders and trades in bond and derivative markets in the UK. One of those changes was to grant trading venue operators, such as TP ICAP, discretion to set transparency parameters, such as the large in scale (LIS) threshold, at the venue level. This discretion applies in respect of instruments within the FCA’s “category 2”, which includes non-standardised derivatives. The change comes into force on 1 December 2025. For all category 2 instruments on TP ICAP venues in the UK, until further notice TP ICAP will maintain the same parameters as had been set by the FCA prior to 1 December.”

“In “PS24/14: Improving transparency for bond and derivatives markets”, the FCA set out changes to requirements for disclosure of orders and trades in bond and derivative markets in the UK. One of those changes was to grant trading venue operators, such as TP ICAP, discretion to set transparency parameters, such as the large in scale (LIS) threshold, at the venue level. This discretion applies in respect of instruments within the FCA’s “category 2”, which includes non-standardised derivatives. The change comes into force on 1 December 2025. For all category 2 instruments on TP ICAP venues in the UK, until further notice TP ICAP will maintain the same parameters as had been set by the FCA prior to 1 December.”

“In “PS24/14: Improving transparency for bond and derivatives markets”, the FCA set out changes to requirements for disclosure of orders and trades in bond and derivative markets in the UK. One of those changes was to grant trading venue operators, such as TP ICAP, discretion to set transparency parameters, such as the large in scale (LIS) threshold, at the venue level. This discretion applies in respect of instruments within the FCA’s “category 2”, which includes non-standardised derivatives. The change comes into force on 1 December 2025. For all category 2 instruments on TP ICAP venues in the UK, until further notice TP ICAP will maintain the same parameters as had been set by the FCA prior to 1 December.”