How to indicate that a trade is sent to clearing?

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Imported from previous forum

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Hi,

We have a case where a central matching engine in some cases sends the trade (fill) to a clearing system, and in other cases the owner of the order (and resulting trade) is responsible for sending the trade to clearing.

How should we indicate this in the execution report? We are looking for something like an “Already sent to clearing Y/N” field in the execution report that has 150=F (fill). Can any of the existing fields in FIX 4.4 be used for this purpose?

Any suggestions would be greatly appreciated,

/Johan

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[ original email was from Aaron Pryce - pryceaaron@gmail.com ]
Hi Johan,

You could possibly use the Report to Exchange (113) field for this purpose if it is not already being used although this is not strictly a correct usage.

Another option may be to add FIX 5.0 enums to ExecType (150) such as K (Trade has been released to Clearing).

Or perhaps CopyMsgIndicator (797) as I pressume you will be sending the Exec report to the Clearer and the Owner of the Order.

rgds

Hi,

We have a case where a central matching engine in some cases sends
the trade (fill) to a clearing system, and in other cases the owner
of the order (and resulting trade) is responsible for sending the
trade to clearing.

How should we indicate this in the execution report? We are looking for
something like an “Already sent to clearing Y/N” field in the execution
report that has 150=F (fill). Can any of the existing fields in FIX 4.4
be used for this purpose?

Any suggestions would be greatly appreciated,

/Johan