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ExternalTradeTransactionCondition1Code

BTEX Code: Best Execution

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BTEX means best execution in the ISO 20022 trade transaction condition code set. Trade to be executed done at best execution.

Code
BTEX
ISO name
BestExecution
Status
Registered
Last updated
2011-08-31

Official definition

Trade to be executed done at best execution.

Definition from the ISO 20022 External Code Sets, 2Q2026 (published 28 Aug 2026).

Messages and fields that use ExternalTradeTransactionCondition1Code

MessageElement path
setr.027TradDtls/TradTxCond/Cd
setr.044PtyTradgDtls/TradTxCond/Cd, CtrPtyTradgDtls/TradTxCond/Cd

BTEX questions

What does BTEX mean in ISO 20022?
BTEX is Best Execution in the ExternalTradeTransactionCondition1Code code set: Trade to be executed done at best execution.
Where does BTEX appear in a message?
For example in setr.027, element TradDtls/TradTxCond/Cd.

All ExternalTradeTransactionCondition1Code codes · ISO 20022 code sets

The ISO 20022 code names and definitions on this page are reproduced from material published at iso20022.org under the ISO 20022 Intellectual Property Rights policy. This is not the official source: the up-to-date ISO 20022 standards and repository material are published only at iso20022.org. Explanations in our own words are by ZagTrader. ZagTrader is not affiliated with or endorsed by ISO or Swift.