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Allocations
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Re: Replace allocation message
Leigh Thompson / The Royal Bank of Scotland
26 Aug 2005 10:55AM ETMy apologies, I am incorrect.
There is one line in 4.4 Vol5 (p23) which states, "A rejected Allocation Report must be resolved out-of-band." so my previous response would be incorrect.
> Many thanks for your response, that clears up that scenario.
>
> Following on from that, if we allocate incorrectly and then the
> client rejects the calculated message we send, what would be the
> appropriate response?
>
> Would we send an unsolicited AllocTransType=Calculated with correct
> allocation?
>
> OR
>
> Would the client reject render the initial allocation invalid and as
> such a new allocation message is sent by the client
>
> OR
>
> Would we send an unsolicited AllocTransType=Replace with correct
> allocation?
>
>
>
> > I'm guessing you are using 4.2, as the fields below have been replaced
> > in 4.4. It looks like you could get into problems with the AllocID,
> > but the AllocReportID introduced in 4.4 might resolve this.
> >
> > The scenario you've described is similar to fix-42-
> > with_errata_20010501.doc Appendix K 2. Buyside-initiated with Misc Fee
> > computation, to which I've added my 2p worth.
> >
> > -> Allocation (AllocTransTyp=Preliminary, AllocID=1a) <- AllocationACK
> > (AllocStatus=Received Not Yet Processed, AllocID=1a) <- Allocation
> > (AllocTransTyp=Calculated, AllocID=1b, RefAllocID=1a) -> AllocationACK
> > (AllocStatus=Received Not Yet Processed, AllocID=1b) -> AllocationACK
> > (AllocStatus=Rejected, AllocID=1b, AllocRejCode=) -> Allocation
> > (AllocTransType=Replace,AllocID=2a, RefAllocID=1a,) <- AllocationACK
> > (AllocStatus=Received Not Yet Processed, AllocID=2a) <- Allocation
> > (AllocTransTyp=Calculated, AllocID=2b, RefAllocID=2a) -> AllocationACK
> > (AllocStatus=Received Not Yet Processed, AllocID=2b) -> AllocationACK
> > (AllocStatus=Accepted, AllocID=2b)
> >
> > Also from the 4.2 spec
> >
> > "Replacement allocation messages must contain all data for the
> > replacement allocation. Calculated allocations should have a unique
> > AllocID and use RefAllocID to specify the AllocID from the
> > preliminary."
> >
> > I'm not 100% on this, can anyone else confirm?
> >
> > regards
> >
> > > What would be the correct response to the following situation:
> > >
> > > A client sends an allocation AllocTransType=preliminary this is
> > > accepted and then we send back an AllocTransType=calculated.
> > >
> > > That message is then rejected by client and then they wish to
> > > replace the initial allocation.
> > >
> > > Would we send an unsolicited AllocTransType=Replace? OR an
> > > unsolicited AllocTransType=calculated? OR would the client send a
> > > new AllocTransType=preliminary with a new Allocation ID?
Re: Replace allocation message
Leigh Thompson / The Royal Bank of Scotland 26 Aug 2005 10:55AM ET
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