Sell-side used FIX Messages for listed derivatives

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Imported from previous forum

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Hi,
I wanted to check with the group and sell-side members on the FIX message (in version 4.4) mostly used by sell-side firms for sending confirmations in response to an Investment Manager’s Allocations of a Broker/Dealer executed listed Option or Future (listed derivatives) trade: would it be a Confirmation (MsgType=AK) message or some other message?

Thanks in advance for your help.

Debashis Das
Omgeo LLC.

3

[ original email was from Robert Stowsky - rstowsky@brookpath.com ]
Hi Deb,

It would be the AK followed by an allocation report.

Robert

Hi, I wanted to check with the group and sell-side members on the
FIX message (in version 4.4) mostly used by sell-side firms for
sending confirmations in response to an Investment Manager’s
Allocations of a Broker/Dealer executed listed Option or Future
(listed derivatives) trade: would it be a Confirmation (MsgType=AK)
message or some other message?

Thanks in advance for your help.

Debashis Das Omgeo LLC.

4

Hi Robert,

Thank you for the details. I understand Confirmation (AK) to be used for sell-side to confirm buy-side’s allocations, but why would an AllocationReport (AS) follow an AK? Aren’t those the messages which conveys the same details? Another question which I had was could AK be used for CFD’s too?

Thanks again for your help.
Deb

Hi Deb,

It would be the AK followed by an allocation report.

Robert

Hi, I wanted to check with the group and sell-side members on the FIX
message (in version 4.4) mostly used by sell-side firms for sending
confirmations in response to an Investment Manager’s Allocations of a
Broker/Dealer executed listed Option or Future (listed derivatives)
trade: would it be a Confirmation (MsgType=AK) message or some other
message?

Thanks in advance for your help.

Debashis Das Omgeo LLC.

5

[ original email was from Robert Stowsky - rstowsky@brookpath.com ]
My mistake. I meant to say that an acknowledgment of the allocation instruction is followed by an allocation report. Confirmation is not used.

Hi Robert,

Thank you for the details. I understand Confirmation (AK) to be used for
sell-side to confirm buy-side’s allocations, but why would an
AllocationReport (AS) follow an AK? Aren’t those the messages which
conveys the same details? Another question which I had was could AK be
used for CFD’s too?

Thanks again for your help. Deb

Hi Deb,

It would be the AK followed by an allocation report.

Robert

Hi, I wanted to check with the group and sell-side members on the
FIX message (in version 4.4) mostly used by sell-side firms for
sending confirmations in response to an Investment Manager’s
Allocations of a Broker/Dealer executed listed Option or Future
(listed derivatives) trade: would it be a Confirmation (MsgType=AK)
message or some other message?

Thanks in advance for your help.

Debashis Das Omgeo LLC.

6

Hi Robert,
Thanks for the letting me know, but would AllocationReport (AS) be the message used for Futures/Options or should Confirmation (AK) be the one or something different. AllocationReport (AK) would be definitely used for Fixed Income since the message is more meaningful from a FI trade perspective but would it be true for Futures/Options also.

Appreciate all your help.

Thanks
Deb

My mistake. I meant to say that an acknowledgment of the
allocation instruction is followed by an allocation report.
Confirmation is not used.

Hi Robert,

Thank you for the details. I understand Confirmation (AK) to be used
for sell-side to confirm buy-side’s allocations, but why would an
AllocationReport (AS) follow an AK? Aren’t those the messages which
conveys the same details? Another question which I had was could AK be
used for CFD’s too?

Thanks again for your help. Deb

Hi Deb,

It would be the AK followed by an allocation report.

Robert

Hi, I wanted to check with the group and sell-side members on the
FIX message (in version 4.4) mostly used by sell-side firms for
sending confirmations in response to an Investment Manager’s
Allocations of a Broker/Dealer executed listed Option or Future
(listed derivatives) trade: would it be a Confirmation
(MsgType=AK) message or some other message?

Thanks in advance for your help.

Debashis Das Omgeo LLC.

7

Hi All;

For Futures and Options on Futures we use the allocation report (AS) to confirm our the activity related to an allocation instruction (J). I am aware of at least 4 sell side (Future Commission Merchants) who do the same thinng.

Cheers,
Tayloe Draughon

Hi Robert, Thanks for the letting me know, but would AllocationReport
(AS) be the message used for Futures/Options or should Confirmation
(AK) be the one or something different. AllocationReport (AK) would
be definitely used for Fixed Income since the message is more
meaningful from a FI trade perspective but would it be true for
Futures/Options also.

Appreciate all your help.

Thanks Deb

My mistake. I meant to say that an acknowledgment of the allocation
instruction is followed by an allocation report. Confirmation is
not used.

Hi Robert,

Thank you for the details. I understand Confirmation (AK) to be used
for sell-side to confirm buy-side’s allocations, but why would an
AllocationReport (AS) follow an AK? Aren’t those the messages which
conveys the same details? Another question which I had was could AK
be used for CFD’s too?

Thanks again for your help. Deb

Hi Deb,

It would be the AK followed by an allocation report.

Robert

Hi, I wanted to check with the group and sell-side members on
the FIX message (in version 4.4) mostly used by sell-side firms
for sending confirmations in response to an Investment Manager’s
Allocations of a Broker/Dealer executed listed Option or Future
(listed derivatives) trade: would it be a Confirmation
(MsgType=AK) message or some other message?

Thanks in advance for your help.

Debashis Das Omgeo LLC.

8

Hi,

Thanks for your help with this.
I had one more question to the group: Is CFICode (461) being adopted widely for Futures & Options security identification instead of SecurityType(167)?

Thanks,
Deb

Hi All;

For Futures and Options on Futures we use the allocation report (AS) to
confirm our the activity related to an allocation instruction (J). I am
aware of at least 4 sell side (Future Commission Merchants) who do the
same thinng.

Cheers, Tayloe Draughon

Hi Robert, Thanks for the letting me know, but would AllocationReport
(AS) be the message used for Futures/Options or should Confirmation
(AK) be the one or something different. AllocationReport (AK) would
be definitely used for Fixed Income since the message is more
meaningful from a FI trade perspective but would it be true for
Futures/Options also.

Appreciate all your help.

Thanks Deb

My mistake. I meant to say that an acknowledgment of the allocation
instruction is followed by an allocation report. Confirmation is
not used.

Hi Robert,

Thank you for the details. I understand Confirmation (AK) to be
used for sell-side to confirm buy-side’s allocations, but why
would an AllocationReport (AS) follow an AK? Aren’t those the
messages which conveys the same details? Another question which I
had was could AK be used for CFD’s too?

Thanks again for your help. Deb

Hi Deb,

It would be the AK followed by an allocation report.

Robert

Hi, I wanted to check with the group and sell-side members on
the FIX message (in version 4.4) mostly used by sell-side
firms for sending confirmations in response to an Investment
Manager’s Allocations of a Broker/Dealer executed listed
Option or Future (listed derivatives) trade: would it be a
Confirmation (MsgType=AK) message or some other message?

Thanks in advance for your help.

Debashis Das Omgeo LLC.

9

CFICode is being widely used in post execution messages for Futures & Options. However, for order execution many firms are choosing not to use CFICode and rather staying with the Security Type (167) FUT or OPT (and the 201 tags for put/call code). To this end, the GTC last year approved an errata to re-introduce these values back into 4.4 and 5.0. This errata should be out sometime this year.

Cheers,
Tayloe Draughon

Hi,

Thanks for your help with this. I had one more question to the group: Is
CFICode (461) being adopted widely for Futures & Options security
identification instead of SecurityType(167)?

Thanks, Deb

Hi All;

For Futures and Options on Futures we use the allocation report (AS)
to confirm our the activity related to an allocation instruction (J).
I am aware of at least 4 sell side (Future Commission Merchants) who
do the same thinng.

Cheers, Tayloe Draughon

Hi Robert, Thanks for the letting me know, but would
AllocationReport (AS) be the message used for Futures/Options or
should Confirmation (AK) be the one or something different.
AllocationReport (AK) would be definitely used for Fixed Income
since the message is more meaningful from a FI trade perspective but
would it be true for Futures/Options also.

Appreciate all your help.

Thanks Deb

My mistake. I meant to say that an acknowledgment of the
allocation instruction is followed by an allocation report.
Confirmation is not used.

Hi Robert,

Thank you for the details. I understand Confirmation (AK) to be
used for sell-side to confirm buy-side’s allocations, but why
would an AllocationReport (AS) follow an AK? Aren’t those the
messages which conveys the same details? Another question which
I had was could AK be used for CFD’s too?

Thanks again for your help. Deb

Hi Deb,

It would be the AK followed by an allocation report.

Robert

Hi, I wanted to check with the group and sell-side members
on the FIX message (in version 4.4) mostly used by sell-side
firms for sending confirmations in response to an Investment
Manager’s Allocations of a Broker/Dealer executed listed
Option or Future (listed derivatives) trade: would it be a
Confirmation (MsgType=AK) message or some other message?

Thanks in advance for your help.

Debashis Das Omgeo LLC.