Hi, I am trying to understand what’s the meaning of AllocID field in AllocationInstruction message (FIX 4.4),
The use case I am working on is a straightforward post-trade allocation:
- buy-side has an existing block trade which has been booked previously, and want to allocate it into several funds. For this, buy-side needs to tell sell-side the ID of the block trade
Is AllocID (tag 70) the right field to send the block trade ID? My concern is that the FIX 4.4 spec says AllocID is “Unique identifier for this Allocation Instruction message”. However I can imagine scenarios when buy-side would send several AllocationInstructions for the same block trade - in this case AllocID will not be unique! Is Alloc ID supposed to be the unique ID of this allocation message, or the unique ID of the exisitng block trade being allocated?