Additional Fields for Allocation Message

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Imported from previous forum

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I would like to propose adding two additional fields to the Allocation message which were not identified in time for Draft #2. I had a conversation w/ DTC who will be accepting Allocations via FIX and either matching, forwarding, or both the Allocation message to brokers. It became clear to me that we need optional fields to identify what the firm (could easily be a different "third party" than DTC) which receives the Allocation should do with it. In addition, in scenarios in which step-in/step-outs are taking place, it may be necessary to instruct the executing broker whether or not they should forward details on to the step-in broker.

Specifically I’m proposing adding the following two fields as optional to the Account repeating group within the Allocation message:

NotifyBrokerOfCredit

  • char
  • Whether or not details should be communicated to BrokerOfCredit (i.e. step-in broker).
  • Valid Values:
    • Y = Yes
    • N = No

AllocHandlInst

  • int
  • How receiver (i.e. a third party) of Allocation message should handle/process the account details.
  • Valid Values
    • 1 = Match
    • 2 = Forward
    • 3 = Forward and Match

Any concerns with this approach? Thanks.

Scott Atwell
American Century