Imported from previous forum
[ original email was from Lisa Linton - ]
It is assumed that the purpose of the execution information within the Allocation message provides a reference for the receiving broker and has no other functionality. Is this correct?
The currently drafted proposed changes to the Allocation message(see "US Committee", "Working Groups", "Allocations") include making this section optional. It has been pointed out that this information may be necessary for situations in which a broker does a step-out. It has also been noted that certain foreign exchanges such as Columbia, Venezula, and Brazil require firms to specifically tie allocations to each execution (I believe this is the case if the buyside is located in that country). For the most part, this information is not really used/necessary and can make the entire message size very large. In many cases in which orders are communicated via the phone, the broker still matches orders and executions based upon customer, trade date, symbol, side, and quantity from the overall section.
> It is assumed that the purpose of the execution information within the Allocation message provides a reference for the receiving broker and has no other functionality. Is this correct?
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