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FIX Field 77
Indicates whether the resulting position after a trade should be an opening position or closing position. Used for omnibus accounting - where accounts are held on a gross basis instead of being netted together.
Notifications about position changes should use the PositionMaintenanceReport message. You would use the same message for different kinds of parties you want to inform. The recipient should normally be aware of his role. In the case where a single party is trading and clearing, you can use the Parties block inside the message and use PartyRole=1 (Executing Firm) and PartyRole=4 (ClearingFirm) to identify the parties. The recipient can then find his own ID associated with the role in which he receives the message. The values can be identical if he clears his own trades.