No Of Allocations > 1; No Of Orders > 1

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Imported from previous forum

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If noOfOrders in the allocation msg is > 1. The allocations are for multiple orders.
How do we relate the allocations to all the orders.
For 1 order, all allocations map to that order.

Can someone please illustrate how the allocations will be mapped to 2 or more orders. Is it only for orders of same qty ??

Thanks in advance
Menita

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This is a bit related to one’s definition of an “order” and relationship to a “block order”. NoOrders would represent FIX orders (i.e. distinct ClOrdIDs). You might send an order to buy 10,000 IBM at 9am and get it fully executed. You might send an order to buy 20,000 IBM at 10am and get it fully executed. At the end of the day, you might consider “both” orders a single block and allocate 30,000.

When trading electronically on ECNs, you might have 50,000 to trade for 5 accounts and actually send 50 different small orders which made up the 50,000 you traded yet consider the 50,000 a single block and send one allocation message with NoOrders=50 and NoAllocs=5.

Both of those examples involve aggregating for the same security and side.

> If noOfOrders in the allocation msg is > 1. The allocations are for multiple orders.
> How do we relate the allocations to all the orders.
> For 1 order, all allocations map to that order.
>
> Can someone please illustrate how the allocations will be mapped to 2 or more orders. Is it only for orders of same qty ??
>
> Thanks in advance
> Menita
>
>