FIX 4.4 : Confirmation <AK> message

Structure | Related Messages

Description

The Confirmation <AK> messages are used to provide individual trade level confirmations from the sell side to the buy side. In versions of FIX prior to version 4.4, this role was performed by the allocation message. Unlike the allocation message, the Confirmation <AK> message operates at an allocation account (trade) level rather than block level, allowing for the affirmation or rejection of individual confirmations.

This message is also used to report back, confirm or exception, the booking status of each allocation instance. When the buy-side, in response, "affirms" with the ConfirmationAck message, the trade is ready to settle.

Because each message reports the details of a single "ticket", Account <1> names, fees, net money, and settlement information are reported using fields designated for single-account trades.

Every Confirmation <AK> message has a unique ConfirmID <664>. It is recommended that the sellside system trade reference be used as ConfirmID <664> where possible, in order to enable the ConfirmID <664> to be used as a mutually understood trade reference (e.g. for use in manual conversations regarding specific trades).

The capacity or capacities of the firm executing the order or orders covered by this confirmation is represented in a repeating group. This is to support confirmations covering orders executed under more than one capacity (e.g. a mixture of agency and principal execution). The OrderCapacityQty <863> field (inside this repeating group) gives the quantity executed under each OrderCapacity <528>. The sum of the OrderCapacityQty <863> values must equal the confirmation's AllocQty <80> (field 80).

Structure

Tag Field Name Req'd Comments
<MessageHeader> Y MsgType <35> = AK
664 ConfirmID Y

Unique ID for this message

772 ConfirmRefID N

Mandatory if ConfirmTransType <666> is Replace or Cancel

859 ConfirmReqID N

Only used when this message is used to respond to a confirmation request (to which this ID refers)

666 ConfirmTransType Y

New, Cancel or Replace

773 ConfirmType Y

Denotes whether this message represents a confirmation or a trade status message

797 CopyMsgIndicator N

Denotes whether or not this message represents copy confirmation (or status message)

Absence of this field indicates message is not a drop copy.

650 LegalConfirm N

Denotes whether this message represents the legally binding confirmation

Absence of this field indicates message is not a legal confirm.

665 ConfirmStatus Y
Component Block - <Parties> N

Insert here the set of "<Parties>" (firm identification) fields defined in "COMMON COMPONENTS OF APPLICATION MESSAGES"

Required for fixed income

Also to be used in associated with ProcessCode <81> for broker of credit (e.g. for directed brokerage trades)

Also to be used to specify party-specific regulatory details (e.g. full legal name of contracting legal entity, registered address, regulatory status, any registration details)

73 NoOrders N

Indicates number of orders to be combined for allocation. If order(s) were manually delivered set to 1 (one).Required when AllocNoOrdersType <857> = 1

=> 11 ClOrdID N

Order ID assigned by client if order(s) were electronically delivered and executed. If order(s) were manually delivered this field should contain string 'MANUAL'.Note where an order has undergone one or more cancel/replaces, this should be the ClOrdID <11> of the most recent version of the order

Required when NoOrders <73> > 0 and must be the first repeating field in the group.

=> 37 OrderID N
=> 198 SecondaryOrderID N

Can be used to provide order id used by exchange or executing system.

=> 526 SecondaryClOrdID N
=> 66 ListID N

Required for List Orders.

=> Component Block - <NestedParties2> N

Insert here the set of "<NestedParties2>" fields defined in "COMMON COMPONENTS OF APPLICATION MESSAGES"

This is used to identify the executing broker for step in/give in trades

=> 38 OrderQty N
=> 799 OrderAvgPx N

Average price for this order

=> 800 OrderBookingQty N

Quantity <53> of this order that is being booked out by this message (will be equal to or less than this order's OrderQty <38>)

Note that the sum of the OrderBookingQty <800> values in this repeating group must equal the total quantity being allocated (in Quantity <53> (53) field)

70 AllocID N

Used to refer to an earlier Allocation Instruction <J>.

793 SecondaryAllocID N

Used to refer to an earlier Allocation Instruction <J> via its secondary identifier

467 IndividualAllocID N

Used to refer to an allocation account within an earlier Allocation Instruction <J>.

60 TransactTime Y

Represents the time this message was generated

75 TradeDate Y
Component Block - <TrdRegTimestamps> N

Time of last execution being confirmed by this message

Component Block - <Instrument> Y

Insert here the set of "<Instrument>" (symbology) fields defined in "COMMON COMPONENTS OF APPLICATION MESSAGES"

Component Block - <InstrumentExtension> N

Insert here the set of "<InstrumentExtension>" fields defined in "COMMON COMPONENTS OF APPLICATION MESSAGES"

Component Block - <FinancingDetails> N

Insert here the set of "<FinancingDetails>" fields defined in "COMMON COMPONENTS OF APPLICATION MESSAGES"

711 NoUnderlyings Y

Indicates number of repeating entries.

** Nested Repeating Group follows **

=> Component Block - <UnderlyingInstrument> N

Insert here the set of "<UnderlyingInstrument>" fields defined in "COMMON COMPONENTS OF APPLICATION MESSAGES

555 NoLegs Y

Indicates number of repeating entries.

** Nested Repeating Group follows **

=> Component Block - <InstrumentLeg> N

Insert here the set of "<InstrumentLeg>" fields defined in "COMMON COMPONENTS OF APPLICATION MESSAGES

Component Block - <YieldData> N

If traded on Yield <236>, price must be calculated 'to worst' and the <Yield <236>> component block must specify how calculated, redemption date and price (if not par). If traded on Price <44>, the <Yield <236>> component block must specify how calculated - 'Worst', and include redemptiondate and price (if not par).

80 AllocQty Y

The quantity being confirmed by this message (this is at a trade level, not block or order level)

854 QtyType N
54 Side Y
15 Currency N
30 LastMkt N
862 NoCapacities Y

Indicates number of repeating entries.

** Nested Repeating Group follows **

=> 528 OrderCapacity Y

Specifies the capacity of the firm executing the order(s)

=> 529 OrderRestrictions N
=> 863 OrderCapacityQty Y

The quantity that was executed under this capacity (e.g. quantity executed as agent, as principal etc.). Sum of OrderCapacityQty <863> values must equal this message's AllocQty <80>.

79 AllocAccount Y

Account <1> number for the trade being confirmed by this message

661 AllocAcctIDSource N
798 AllocAccountType N
6 AvgPx Y

Gross price for the trade being confirmed

Always expressed in percent-of-par for Fixed Income

74 AvgPxPrecision N

Absence of this field indicates that default precision arranged by the broker/institution is to be used

423 PriceType N

Price <44> type for the AvgPx <6> field

860 AvgParPx N
Component Block - <SpreadOrBenchmarkCurveData> N

Insert here the set of "<SpreadOrBenchmarkCurveData>" fields defined in "COMMON COMPONENTS OF APPLICATION MESSAGES"

861 ReportedPx N

Reported price (may be different to AvgPx <6> in the event of a marked-up or marked-down principal trade)

58 Text N
354 EncodedTextLen N
355 EncodedText N
81 ProcessCode N

Used to identify whether the trade was a soft dollar trade, step in/out etc. Broker of credit, where relevant, can be specified using the <Parties> nested block above.

381 GrossTradeAmt Y
157 NumDaysInterest N
230 ExDate N

Optional 'next coupon date' for Fixed Income

158 AccruedInterestRate N
159 AccruedInterestAmt N

Required for Fixed Income products that trade with accrued interest

738 InterestAtMaturity N

Required for Fixed Income products that pay lump sum interest at maturity

920 EndAccruedInterestAmt N

For repurchase agreements the accrued interest on termination.

921 StartCash N

For repurchase agreements the start (dirty) cash consideration

922 EndCash N

For repurchase agreements the end (dirty) cash consideration

238 Concession N
237 TotalTakedown N
118 NetMoney Y
890 MaturityNetMoney N

Net Money at maturity if Zero Coupon and maturity value is different from par value

119 SettlCurrAmt N
120 SettlCurrency N
155 SettlCurrFxRate N
156 SettlCurrFxRateCalc N
63 SettlType N
64 SettlDate N
Component Block - <SettlInstructionsData> N

Insert here the set of "<SettlInstructionsData>" fields defined in "COMMON COMPONENTS OF APPLICATION MESSAGES"

Used to communicate settlement instructions for this Confirmation <AK>.

Component Block - <CommissionData> N
858 SharedCommission N

Used to identify any commission shared with a third party (e.g. directed brokerage)

Component Block - <Stipulations> N
136 NoMiscFees N

Required if any miscellaneous fees are reported. Indicates number of repeating entries. Repeating group.

** Nested Repeating Group follows **

=> 137 MiscFeeAmt N

Required if NoMiscFees <136> > 0

=> 138 MiscFeeCurr N
=> 139 MiscFeeType N

Required if NoMiscFees <136> > 0

=> 891 MiscFeeBasis N
<MessageTrailer> Y

 

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