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Allocations
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Re: Pre-Trade Allocations FIX 4.2
Vikas Goel / TCS <>
21 Sep 2007 11:55AM ETYes, 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
Vikas Goel / TCS 21 Sep 2007 11:55AM ET
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