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Riskless Principal Capacity
Robert Rothman / Morgan Stanley
10 Jul 2006 9:25AM ET

Tag 29 LastCapacity value '3' represents Cross as Principal. Should this value be used for Riskless Principal?

Riskless Principal is an execution where a customer order is executed at the same price that the security was orginally bought for by the trader and it was in his/her inventory. In this case both client order price and the trader execution price are same.

Any clarification would be appreciated.

Thanks.

Robert