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

COMPLETE MiFIR REPORTING INFORMATION

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. Use the button above to log in to Client Portal and complete the required tasks presented to you. If you do not see any task, you can add your MiFIR information as described below.

Note

  • Accounts opened under IBKR Ireland always fall in the scope of MiFIR transactions reporting, regardless of trading permissions.

Individual accounts can amend MiFIR information as follows:

  1. Log in to Client Portal.
  2. Click the User menu (head and shoulders icon in the top right corner) followed by Settings.
  3. Under the Account Settings section in the Account Profile section click the Profile you want to modify.
  4. Profile information appears on a series of screens. The MiFIR section will appear. Modify information as required, clicking CONTINUE to advance through the screens.
  5. If you do not participate in the Secure Login System for two-factor authentication, you will receive an email with a confirmation number. Enter the confirmation number sent to you via email, then click CONTINUE. If you have not received a confirmation number, click Request Confirmation Number to have a new confirmation number sent to your email address.
  6. Click OK.

Organization accounts can amend MiFIR information (LEI) as follows:

  1. Log in to Client Portal.
  2. Click the User menu (head and shoulders icon in the top right corner) followed by Settings.
  3. Under the Account Settings section click on the Mifir in the Account Configuration section.
  4. Make your election and confirm by following the prompts on the screen.

Once you have completed the forms the Short Code should be generated within 24 hours. If the error persists, please contact IBKR Client Services providing information about the error message that you see and which product you are trying to place an order on.

Find more information on which products fall under the MiFiR regulatory umbrella in the IBKR Knowledge Base.

Please Note

  • The MiFIR Information for individuals requires to enter an ID based on your Primary Citizenship and not based on your Country of residency (e.g. an Italian or Spanish citizen living in Argentina needs to enter the required Italian or Spanish ID).

Additional Information

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