usage of allocation messages

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1

Imported from previous forum

2

Hi,

Where can I find more information on how allocation messages are being used in practice by buy/sell side firms?

Alex Pasman
Warburg Dillon Read
312 554-5751

3

Our firm has been using the Allocation message for a couple of years now. We have this in place with a large number of sellside firms. I am willing to discuss this with you offline.

> Hi,
>
> Where can I find more information on how allocation messages are being used in practice by buy/sell side firms?
>
> Alex Pasman
> Warburg Dillon Read
> 312 554-5751
>

4

Scott,
would you mind speaking to me about this also? We are looking for more information on this topic.
Bill Furlong
Advent Software, Inc.
(415) 645-1219

> Our firm has been using the Allocation message for a couple of years now. We have this in place with a large number of sellside firms. I am willing to discuss this with you offline.
>
> > Hi,
> >
> > Where can I find more information on how allocation messages are being used in practice by buy/sell side firms?
> >
> > Alex Pasman
> > Warburg Dillon Read
> > 312 554-5751
> >
>

5

[ original email was from Richard Lerman - rlerman@independence.com ]
Marc Nield wrote:

I for one would very much like to know sell side capabilities in this area, both in the US and in the rest of the world.

Anyone ?

I too would like to know the standing of the sell-side’s use of allocation messages. Since this appears to be an item of interest… Scott, is it possible to post a list?

Thanks,

Rich Lerman
Independence Investment Associates, Inc.

6

No, I will not post a list containing brokers our firm does business with. I would encourage everyone to make use of the "Principals" page on this website.

> Marc Nield wrote:
> ------------------------
> I for one would very much like to know sell side capabilities in this area, both in the US and in the rest of the world.
>
> Anyone ?
> ------------------------
>
> I too would like to know the standing of the sell-side’s use of allocation messages. Since this appears to be an item of interest… Scott, is it possible to post a list?
>
> Thanks,
>
> Rich Lerman
> Independence Investment Associates, Inc.
>

7

[ original email was from Richard Lerman - rlerman@independence.com ]
I can appreciate your response Scott. Be that as it may, the Principals page is fairly light. Would it be possible to "re-solicit" all principals to contribute their FIX message capability?

> No, I will not post a list containing brokers our firm does business with. I would encourage everyone to make use of the “Principals” page on this website.
>
>
> > Marc Nield wrote:
> > ------------------------
> > I for one would very much like to know sell side capabilities in this area, both in the US and in the rest of the world.
> >
> > Anyone ?
> > ------------------------
> >
> > I too would like to know the standing of the sell-side’s use of allocation messages. Since this appears to be an item of interest… Scott, is it possible to post a list?
> >
> > Thanks,
> >
> > Rich Lerman
> > Independence Investment Associates, Inc.
> >
>

8

[ original email was from Danny Shobrook - dzshobrook@dial.pipex.com ]
Hi

We recently did some work on FIX for a Scottish fund manager. They wanted to do FIX allocations over a third-party network and sent out a request to a number of European brokers and got a very negative response back, mainly along the lines of use Oasys.

Both ourselves and they were very surprised by this response and I was wondering if it was just a European thing or is there a general - quite understanable - reluctance to migrate from an established ETC solution? A Y2K issue? or just that FIX allocs are not on the horizon for brokers?

Thanks
Danny

9

> Hi
>
> We recently did some work on FIX for a Scottish fund manager. They wanted to do FIX allocations over a third-party network and sent out a request to a number of European brokers and got a very negative response back, mainly along the lines of use Oasys.
>
> Both ourselves and they were very surprised by this response and I was wondering if it was just a European thing or is there a general - quite understanable - reluctance to migrate from an established ETC solution? A Y2K issue? or just that FIX allocs are not on the horizon for brokers?
>
> Thanks
> Danny
>
The problem is that the UK and Europe have lagged behind the US in adopting ANY for of Electronic Trade Conformation. You will find that many brokers, especially in Europe, will only just (if at all) have started to use Oasys Global and so to go to them asking them to accept FIX allocations was always likely to solicit a negative response. Remember it is easy to "hand crank" OG by having legions of clerks inputting data into a screen, but for FIX the broker has little option but to fully automate his order management process. Too many have not done that.

Marc Nield