Imported from previous forum
I would appreciate some advice on the appropriate message type to use in a scenario where a confirmed traded reported by a marketplace to a third party not involved in the execution (e.g. clearinghouse, depository, etc.) may be rejected by that third party.
If the confirmed trade is reported by the marketplace to the third party via a Trade Capture Report, what message should the third party use to communicate the rejection to the marketplace? Should it be the Trade Capture Report Ack or the Trade Capture Report?