Imported from previous forum
[ original email was from Titus Cheung - tcheung@jefferies.com ]
Can someone explain what does the following mean, and how are they related to Tag 21 HandlInst (ie Is 21=3 for CARE orders always going to get 29=1)?
‘1’ Agent
’2’ Cross as agent
’3’ Cross as principal
’4’ Principal
Hi,
Hoping to revive this old thread on tag 29 and the proper application.
An agency only BD executing care flow through other brokers. I’m trying to confirm the proper application of tag 29 if the order is routed to another broker who executes the order as principal. Since we receive the order from the client would we return 29=1 to the client, or 29=4 since the actual execution was executed as principal?
Thanks!