About AE-AD Message Type

1

Hello,

I have a request json model for my trade capture report service. I need to convert these fields to FIX pattern. When i look at trade capture report i saw two types of trade capture report message type, AE(TradeCaptureReport) and AD(TradeCaptureReportRequest).

So which one should i use for take a new trade capture request message from participant to exchange ? Also can you please explain difference between AE and AD generally ?

Thanks a lot, regards.

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From https://fiximate.fixtrading.org

The Trade Capture Report message can be:

  • Used to report trades between counterparties.

  • Used to report trades to a trade matching system.

  • Sent unsolicited between counterparties.

  • Sent as a reply to a Trade Capture Report Request.

  • Used to report unmatched and matched trades.

The Trade Capture Report Request can be used to:

• Request one or more trade capture reports based upon selection criteria provided on the trade capture report request

• Subscribe for trade capture reports based upon selection criteria provided on the trade capture report request.

So AE is for reporting the actual trades, AD is to request trade capture reports that were reported earlier. That’s the way I understand it.

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Usually, a TradeCaptureReportRequest (AD) can be used to request one or more trade capture reports based upon the selection criteria provided
OR subscribe for trade capture reports (AE) based upon selection criteria provided
If you are providing a Post Trade Trade Capture Reporting service, a participant can use the TradeCaptureReportRequest to cater to the two scenarios mentioned above.

TCR or Trade Capture Report (AE) would be the one that will be sent from the exchange to the participant for their confirmed and committed orders.

So basically we can say like, one can use (AD) to request or subscribe to (AE) messages

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4

Thanks for answers. Got it.