Imported from previous forum
[ original email was from Sam Yudelovitch - syudelovitch@tradescape.com ]
Have some incorporated this feature into their clearing systems? Executing Broker is something that is not explained in detail, but I would assume that its something that could be used in a clearing and settlement environment after the execution. What have people used this for other than record keeping?
Any help…
Thanks.
[ original email was from Jim Northey - jnorthey@lasalletech.com ]
CBOE is using ExecBroker[76] to report the firm clearing number for the execution - this information is also provided to the trade match system - then transmitted to the OCC.
In FIX 4.2 two additional fields were included for ClearingFirm[439] (in the options instance for CMTA) and ClearingAccount[440] that can be used if the executing firm is not the same as the clearing firm - or if there are different firm identifier between the market and the clearing and settlement systems. CBOE will be using these fields for information capture that will eventually end up at OCC.
> Have some incorporated this feature into their clearing systems? Executing Broker is something that is not explained in detail, but I would assume that its something that could be used in a clearing and settlement environment after the execution. What have people used this for other than record keeping?
>
> Any help…
>
> Thanks.
>