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Allocations
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re: Identification of Broker Internal Account
Peter Tierney / Thomson ESG
5 Jul 2000 10:53AM ETOne of the features of services such as Thomson's ALERT and DTCC's SID is to allow brokers to crossreference accounts (maintain BIA's centrally) and receive allocations complete with the institution's fund and teh associated BIA attached.
PeterT
> The message is designed such that the institution would provide some sort of account identifier. I doubt most institutions would want to track what their broker's call their accounts, so most likely the broker's system would need to be able to cross-ref the account identifiers (AllocAccount field) provided by the insitution to their codes (your BIA). It would seem to me that either both sides would have to use the same agreed upon codes or at least one side would need to be able to cross-ref them.
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> > We use the Broker Internal Account number (BIA) to represent the client (institution) account at the Broker-Dealer. The Broker-Dealer uses this account to appropriately book their side of the allocation. The BIA is submitted on the confirmation.
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> > How does the FIX Allocation message identify the broker in this instance?
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re: Identification of Broker Internal Account
Peter Tierney / Thomson ESG 5 Jul 2000 10:53AM ET
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