Confirmation

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FIX Message Confirmation (MsgType=AK)

MsgType FIX Specification First introduced
MsgType=AK PostTrade messages - Confirmation FIX.4.4

The Confirmation 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 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 names, fees, net money, and settlement information are reported using fields designated for single-account trades.

Every Confirmation message has a unique ConfirmID. It is recommended that the sellside system trade reference be used as ConfirmID where possible, in order to enable the ConfirmID 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 field (inside this repeating group) gives the quantity executed under each OrderCapacity. The sum of the OrderCapacityQty values must equal the confirmation"s AllocQty (field 80).


Message Contents By FIX Version


Notes

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