This message is a general free-format message for describing news items. It contains flags to identify the news item's urgency and to allow sorting by subject company. This message may be sent by any type of institution.

The News message supports categorization of the news being published. This allows the news to be filtered by the consumer. For example:

• Exchanges may need to provide the MarketID (1301) and MarketSegmentID (1300) so users can filter news to the segments that are of relevance for them
• In multi-lingual environments, news may be published in a variety of languages; a user should be able to filter out messages in irrelevant languages
• By providing a categorization of the News messages, users can choose how to render them in different GUIs or to ignore certain categories altogether

The News message also allows news to reference other News messages. When one message references another, it may also need to provide the reason for the reference, e.g. an update of the previous message, a complement, or the same item in another language.