Trade Capture Report Acknowledgement

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Imported from previous forum

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[ original email was from Ainhoa Dewisme - ainhoa.dewisme@reuters.com ]
Hi,

Could somebody confirm if my undrestanding is correct?

TCR Acknowledgements are not normally sent by brokers/counterparties to Ack the reception of a Trade Capture Report sent by the ECN (unless this is explicitaly indicated by the ECN).

It is a message that may be sent by ECNs to acknowledge TCR sent by a counterparty/broker…

Thanks and Regards

Ainhoa

3

That is correct. The current practice among exchanges, ECN’s and CCP’s is not to expect an Ack in response to a TCR.

Hi,

Could somebody confirm if my undrestanding is correct?

TCR Acknowledgements are not normally sent by brokers/counterparties to
Ack the reception of a Trade Capture Report sent by the ECN (unless this
is explicitaly indicated by the ECN).

It is a message that may be sent by ECNs to acknowledge TCR sent by a
counterparty/broker…

Thanks and Regards

Ainhoa

4

[ original email was from Rikard Hedberg - rikard.hedberg@omxgroup.com ]
Ainhoa and Matt,

the Ack message is optional, but some markets find usage for it. In the case a trade that is reported from a marketplace (incl ECNs) and thereby is in a confirmed state, I do not see a compelling reason to Ack (even if rejects using the Ack message may still apply). That type of reporting is basically a unidirectional stream. However, in the reporting of a privately negotiated trade to a marketplace, some markets do find it relevant to send an Ack. In this case there is more of an interactive workflow - especially if the counterparty has to acknowledge the trade.

Regards

Rikard

That is correct. The current practice among exchanges, ECN’s and CCP’s
is not to expect an Ack in response to a TCR.

Hi,

Could somebody confirm if my undrestanding is correct?

TCR Acknowledgements are not normally sent by brokers/counterparties
to Ack the reception of a Trade Capture Report sent by the ECN (unless
this is explicitaly indicated by the ECN).

It is a message that may be sent by ECNs to acknowledge TCR sent by a
counterparty/broker…

Thanks and Regards

Ainhoa