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Fixed Income
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Re: Fixed Income Circle Positions
Alan Flancman / Monetary Dynamics Incorporated
16 Oct 2006 7:13PM ET> Has anyone worked with developing a methodology to handle retail
> circling of inventory positions within an offering? Specifically in the
> Retail world a broker/sales rep can circle (temporarily decrease
> available offering) part or all of an offering in order to solidify the
> order with the retail customer. Typically, this circle is replaced by an
> order, which removes the circle, or it automatically expires within a
> specified time frame openning up the circled portion of the offering to
> other retail clients.
I implemented exactly this sort of thing about 25 years ago in a proprietary system at a dealer.
Typically in retail the order will be originating within a given institution and processed through that institution's own trading desk, which gives you considerable leeway in determining which message and tag to use for your purpose. Even if the circle order originates external to the organization for some reason, you could make the processing of that message tag conditional on the addressee.
Alan
Re: Fixed Income Circle Positions
Alan Flancman / Monetary Dynamics Incorporated 16 Oct 2006 7:13PM ET
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