Give Up Reference

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Imported from previous forum

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Is there a standard Fix Tag used for Give-up reference?

i.e. The account provided indicates that the execution broker should give-up to clearing broker X. The give-up reference contains information relevant to clearing broker X, such as the end account, commission type etc.

I want to avoid using Tag 55=Text and can’t find anything on the website (i.e. custom tags) when searching on give-ups, step-outs, etc.

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Is there a standard Fix Tag used for Give-up reference?

i.e. The account provided indicates that the execution broker should
give-up to clearing broker X. The give-up reference contains
information relevant to clearing broker X, such as the end
account, commission type etc.

I want to avoid using Tag 55=Text and can’t find anything on the website
(i.e. custom tags) when searching on give-ups, step-outs, etc.

Update: On the repeating “Allocation Account” group it seems logical to have

  • NestedParty PartyRole 4 (Clearing Firm)
  • NestedParty PartyRole 24 (Customer Account) i.e. give-up reference

I’d be grateful to hear if people agree/disagree with this. Thanks

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At OCC, we use AllocInd to indicate the desire to give-up a trade and Party Id=“(Give-Up Firm)” with Role=“14”.

Is there a standard Fix Tag used for Give-up reference?

i.e. The account provided indicates that the execution broker should
give-up to clearing broker X. The give-up reference contains
information relevant to clearing broker X, such as the end
account, commission type etc.

I want to avoid using Tag 55=Text and can’t find anything on the
website (i.e. custom tags) when searching on give-ups, step-outs, etc.

Update: On the repeating “Allocation Account” group it seems
logical to have

  • NestedParty PartyRole 4 (Clearing Firm)
  • NestedParty PartyRole 24 (Customer Account) i.e. give-up reference

I’d be grateful to hear if people agree/disagree with this. Thanks