unsolicited FIX Allocation

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Imported from previous forum

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Hi there,

Is there any such thing as "unsolicited" FIX allocation, Unsoliciited amendment/cancel on FIX allocation? Like having the sell-side to initiate the FIX allocation.

Thanks,

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[ original email was from Alvin Mullan - alvin.mullan@ubs.com ]
Hi,

Within the FIX 4.4 specification the Allocation Instruction message is only generated from the buy-side. The message flow in response then follows with Allocation Ack, "received" and then "accepted" or "rejected". The second Ack response is only generated from the sell-side once the Allocation message has been totally validated and matched with the Order or Orders. Alternatively the message can be rejected if it failed validation. Hence there is currently need for an unsolicited amend/cancel.

There is provision for the sell-side to initiate an allocation by using the FIX Allocation Report message which was introduced as part of the FIX 4.4 specification. This was introduced in this version in order for the Allocation Instruction message to only be a message generated from the buy-side. Please refer to the use of that message in volume 5 of the FIX 4.4 specification.

Hope that this helps.

Regards,
Alvin
UBS Investment Bank

> Hi there,
>
>
> Is there any such thing as "unsolicited" FIX allocation, Unsoliciited amendment/cancel on FIX allocation? Like having the sell-side to initiate the FIX allocation.
>
> Thanks,
>