Add party role scheme entity

This page is a capture in the next bucket of the product backlog — a pre-sprint idea, not yet pulled into a sprint as a story.

The following is the analysis for adding support to party schemes.

Contains a code representing a related party role. This can be extended to provide custom roles.

• Obtained on 2025-11-10.
• Version 4-1.
• URL: http://www.fpml.org/coding-scheme/party-role-4-1.xml

Code Description

• Code: Accountant
• Description: Organization responsible for preparing the accounting for the trade.
• Code: Allocation
• Description: Agent The organization responsible for supplying the allocations for a trade to be allocated to multiple accounts/organizations.
• Code: Arranging
• Description: Broker The organization that arranged the trade, i.e. brought together the counterparties. Synonyms/Alternatives: Inter-dealer broker, agent.
• Code: Beneficiary
• Description: Organization that suffers the economic benefit of the trade. The beneficiary may be distinct from the principal/counterparty - an example occurs when a hedge fund trades via a prime broker; in this case the principal is the prime broker, but the beneficiary is the hedge fund. This can be represented as a payer/receiver account in the name of the hedge fund, but it is also possible to add the party role of "Beneficiary" at the partyTradeInformation level.
• Code: Booking
• Description: Party The entity for which the organization supporting the trade's processing has booked/recorded the trade. This is used in non-reporting workflows situations in which the trade doesn't need to be reported but a firm still wants to specify their own side.
• Code: Buyer
• Description: Acquirer of the legal title to the financial instrument. In the case of an option, the buyer is the holder of the option. In the case of a swap or forward, the buyer will be determined by industry best practice. This does not refer to an investor or investment manager or other organization on what is typically called the "Buy side"; for that, see the "Client" role. Corresponds to "Buyer" as defined in certain regulations such as ESMA MiFID II/MIFIR RTS 22 field 9.
• Code: Buyer
• Description: DecisionMaker The party or person who, having legal authority to act on behalf of the trade counterparty acting as Buyer as defined in this coding scheme, made the decision to acquire the financial instrument. Corresponds to "buyer decision maker" as defined in ESMA's MIFIR RTS 23 report. This does not refer to the decision maker for what is traditionally called the "Buy side"; for that, see the "Client Decision Maker" role.
• Code: Clearing
• Description: Client An organization that clears trades through a clearing house, via a clearing broker (member of the clearing house) who acts as an agent on its behalf. The term "client" refers to the organization's role in the clearing process in relation to its clearing broker, and not whether it is a price maker or taker in the execution process.
• Code: Clearing
• Description: ExceptionParty A party to the trade that claims a clearing exception, such as an end-user exception under Dodd-Frank Act provisions.
• Code: Clearing
• Description: Firm Organization that submits the trade to a clearing house on behalf of the principal. Synonyms/alternates: Futures Commission Merchant (FCM), Clearing Broker, Clearing Member Firm. Some implementations use "Clearing Broker" as synonym.
• Code: Clearing
• Description: Organization The organization that acts as a central counterparty to clear a derivatives contract. This is used to represent the role of Central Counterparties (CCPs) or Derivative Clearing Organizations (DCOs). Sometimes called "ClearingService". Some implementations also use the term "Clearer".
• Code: Client
• Description: Client as defined under ESMA MIFIR. This is generally the investor or other client of an investment firm, and is synonymous with the Beneficiary in many circumstances.
• Code: Client
• Description: DecisionMaker The party or person who, having legal authority to act on behalf of a trade counterparty, made the decision to acquire or sell the financial instrument.
• Code: Confirmation
• Description: Platform Organization serving as a financial intermediary for the purposes of electronic confirmation or providing services for post-processing of transactional data.
• Code: Contractual
• Description: Party A party to a contractual document. If the intended usage relates to the context of the trade lifecycle, more specific annotations have been defined which might be more appropriate.
• Code: Counterparty
• Description: An economic counterparty to the trade. Synonym: principal.
• Code: Counter
• Description: PartyAffiliate Organization offiially attached to the counterparty. e.g. partner, branch, subsidiary.
• Code: Counter
• Description: PartyUltimateParent The topmost entity or organization, within the corporate hierarchy, responsible for the reporting party.
• Code: Credit
• Description: SupportProvider Organization that enhances the credit of another organization (similar to guarantor, but may not fully guarantee the obligation).
• Code: Custodian
• Description: Organization that maintains custody of the asset represented by the trade on behalf of the owner/principal.
• Code: Data
• Description: Submitter Entity submitting the transaction report to the competent authority.
• Code: Disputing
• Description: Party Organization that is disputing the trade or transaction.
• Code: Document
• Description: Repository A marketplace organization which purpose is to maintain document records. If the intended usage relates to the context of the trade lifecycle, more specific annotations have been defined which might be more appropriate.
• Code: Executing
• Description: Broker The (generally sell-side) organization that executed the trade; the price-making party.
• Code: Executing
• Description: Entity Entity executing the transaction. If the transaction is executed directly by the reporting party, it will be the reporting party. If it is executed by an execution agent or an affiliated party on behalf of the reporting party, it will be that affiliate or agent.
• Code: Execution
• Description: Agent The (generally buy-side) organization that acts to execute trades on behalf of an investor. Typically this is an investment manager or asset manager, and also makes the investment decisions for the investor. If required, a separate InvestmentDecision role can be specified to distinguish that the party making the investment decision is different.
• Code: Execution
• Description: Facility The facility, exchange, or market where the trade was executed. Synonym: Swap Execution Facility, Designated Contract Market, Execution Venue.
• Code: Guarantor
• Description: Organization that backs (guarantees) the credit risk of the trade.
• Code: Margin
• Description: Affiliate Margin affiliate as defined by U.S. margin and capital rules §23.151.
• Code: Order
• Description: Transmitter The entity transmitting the order to the reporting firm. Synonym: Transmitting Firm.
• Code: Prime
• Description: Broker The organization that takes on or took on the credit risk for this trade by stepping in between the two economic parties (without a central counterparty clearing mechanism).
• Code: Prior
• Description: TradeRepository The trade repository at which the trade was reported previous to the current trade repository.
• Code: PTRR
• Description: CompressionProvider A party providing a post trade risk reduction service in the form of compression.
• Code: PTRR
• Description: RebalancingProvider A party providing a post trade risk reduction service in the form of portfolio rebalancing.
• Code: Publication
• Description: Venue The reporting service (whether trade repository, market data service, or exchange/facility/venue data distribution service) that published the report of this trade.
• Code: Reporting
• Description: Party The party with the regulatory responsibility to report this trade.
• Code: Reporting
• Description: PartyAffiliate Organization offiially attached to the reporting party e.g. partner, branch, subsidiary.
• Code: Reporting
• Description: PartyUltimateParent The topmost entity or organization, within the corporate hierarchy, responsible for the reporting party.
• Code: Seller
• Description: A counterparty in a trade, which performs in one of the following capacities: 1) it transfers or agrees to transfer in the future an instrument or title to that instrument in exchange for payment, 2) it writes a derivatives instrument such as an option or a swap in which it provides risk protection to the buyer. This does not refer to the broker/dealer or other organization on what is typically called the "Sell side"; for that, see the "Executing Broker" role. Corresponds to "Seller" as defined in certain regulations such as ESMA MiFID II/MIFIR RTS 22 field 16.
• Code: Seller
• Description: DecisionMaker The party or person who, having legal authority to act on behalf of the trade counterparty acting as Seller as defined in this coding scheme, made the decision to sell the financial instrument. Corresponds to "seller decision maker" as defined in ESMA's MIFIR RTS 23 report. This does not refer to the decision maker for what is traditionally called the "Sell side"; for that, see the "Trader" person role.
• Code: Settlement
• Description: Agent The organization that makes or receives payments on behalf of the given principal party.
• Code: Trade
• Description: Repository An organization that maintains records of the trade for regulatory reporting purposes.
• Code: Trade
• Description: Source The organization that originally supplied the record of the trade. In the context of regulatory reporting, it is the submitter of the trade record to a regulator or TR.
• Code: Trading
• Description: Manager The entity responsible for managing the assets/investments of this party. Synonnym: Asset Manager, Investment Manager, Trading Advisory.
• Code: Trading
• Description: Partner An entity with which this party trades from time to time, ie. with which it acts as a counterparty on some transactions. This role is used for static reference data, not individual transactions.