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Allocations
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Re: Pre-Trade Allocations FIX 4.2
Patricia Sibilia / Citigroup Global Markets Inc.
21 Sep 2007 12:23PM ETI'm not familiar with pre-trade allocation on the order except for where it will allocate to a single subaccount. Is there a process to indicate multiple splits of the blocks to the underlying accounts on an order?
> Yes, pre-trade allocations is used in US Equity market
>
> The answers to the two questions
> 1.) Some of the client want to send in the allocation details along with
> the order. This happens in the case when the client is very sure. He
> does not have any complications of average-pricing etc. This way the
> client saves time. This is another feature.
>
> 2.) Pre-trade allocations information are sent in the order details.
> They are then saved on the system. When the order is fully executed ot
> done for the day, then the corressponding trade is allocated to the
> accounts specified with the order earlier
>
> Thanks Vikas Goel
>
> >
> > Does anyone know if the use of pre-trade allocations (ie Allocations
> > instructions in a NOS message) is used in the US Equity market?
> >
> > If so, two questions....
> >
> > 1.) Is there a business reason why? (ie why not just use Allocation
> > message instead. Tag 35=J)
> >
> > 2.) What is the flow for pre-trade? (ie How/when are Allocation ACK
> > messages sent back to the order initator)
> >
> > Any insight is much appreciated.
Re: Pre-Trade Allocations FIX 4.2
Patricia Sibilia / Citigroup Global Markets Inc. 21 Sep 2007 12:23PM ET
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