FIX Trade Flag Scenarios for RTS 2:Bonds for CTP (UK & European)

This workbook documents common fixed-income trading scenarios and considers how they should be represented on the European consolidated tape. The Scenarios sheet translates real-world execution workflows into expected price-forming, venue and regulatory flagging treatment; the Flags sheet provides a reference catalogue of the relevant post-trade transparency and deferral flags, including EU/UK differences; and the NPFT definition sheet provides the regulatory criteria for identifying transactions that are not conventional price-forming transactions.