|
4.1 Changes
< Previous Next >
re: Net Money in Execution Reports
Scott Atwell / American Century <>
16 Feb 1998 3:43PM ETYes, that's a typo. I meant to remove NetMoney from the ExecutionRpt message in the draft per the release notes.
Misc Fees were removed from the ExecutionRpt (and thus NetMoney) but Commission may still be provided via the ExecutionRpt if desired. The issue is that the broker needs to know the account breakdowns in order to provide the misc fees because certain accounts (i.e. small size block) can have different fees associated with them. The fees (typically related to international trading) can be reported by the broker via the Allocation-Calculated message following receipt of the Allocation-Preliminary message from the Institution. Presumably commission is not dependent upon the account breakdowns rather the overall amount and the broker could provide the commission details for the overall amount via the ExecutionReport. It is required that this information be provided in the Allocation because it is a key component of NetMoney which is the ultimate deliverable from the Allocation message.
Scott Atwell
American Century
scott_atwell@americancentury.com
> Maybe this is a typo - the release notes and allocation notes imply that Net Money is to be removed from the execution report record, but the body of the spec still has it present.
>
> I am also a little confused by the fact that the misc fee fields were eliminated from the exec. report and moved to the account level in the alloc report, but commissions are still present in the exec. rpt. and are also present at the account level in the alloc report. Does the circumstance dictate where commissions should be reported - i.e., whether they can be contained in the exec report or not, or are they always valid in both places?
>
> Terry Murtaugh
>
> Charles River Development
> murtaugh@world.std.com
>
re: Net Money in Execution Reports
Scott Atwell / American Century 16 Feb 1998 3:43PM ET
|
