pre-allocation instruction modification

, ,
1

Imported from previous forum

2

Hi,

How does one modify pre-allocation instructions of an executed order using FIX 4.2? thanks.

  • Haw-Ming
3

[ original email was from Jim Kaye - jim.kaye@gs.com ]
Hello,

Once the order has been executed, the only way to change the allocations is to send a post-trade allocation message. The problem is that there is no way of cancelling existing pre-trade allocations in FIX 4.2 (support for this is provided in FIX 4.4), so you either need to agree with your counterparties that any post trade allocations override any pre-trade allocations, or there will need to be some kind of manual communication of the cancellation of the pre-trade details.

Note the change made in FIX 4.4 was to add an AllocID to the new order messages, allowing the standard allocation cancellation (and replacement) messages to be used, referencing that same AllocID.

Jim.

> Hi,
>
> How does one modify pre-allocation instructions of an executed order using FIX 4.2? thanks.
>
> - Haw-Ming
>