SettlementInstructions

From FIXwiki

Jump to: navigation, search

FIX Message SettlementInstructions (MsgType=T)

MsgType FIX Specification First introduced Deprecated
MsgType=T PostTrade messages - SettlementInstruction FIX.4.1

The Settlement Instructions message provides the broker"s, the institution"s, or the intermediary"s instructions for trade settlement. This message has been designed so that it can be sent from the broker to the institution, from the institution to the broker, or from either to an independent "standing instructions" database or matching system or, for CIV, from an intermediary to a fund manager.

The Settlement Instructions message can be used in one of three modes (SettlInstMode):

1) To provide "standing instructions" for the settlement of trades occurring in the future. The message could either be sent in an 'unsolicited' fashion (i.e. a 'push'-style update from one firm to that firm's counterparties) or in response to a Settlement Instruction Request message. In either of these scenarios, this message can provide multiple settlement instructions.

2) To reject a Settlement Instruction Request message (e.g. unable to process request, no matching settlement instructions found).

3) To provide settlement instructions for a specific Order with a single account either as overriding or standing instructions to support matching. The ClOrdID field should be used to link the settlement instructions to the corresponding Order message.

See VOLUME 7 - "PRODUCT: COLLECTIVE INVESTMENT VEHICLES"


The Settlement Instruction detail can be either explicitly specified (via the SettlInstructionsData component block) or can exist within an independent standing instructions database and can be referenced via the StandInstDbType, StandInstDbName, and StandInstDbID fields. See Volume 6 - Appendix 6-H for further details regarding the construction and formatting of settlement instruction details.


Message Contents By FIX Version


Notes

Please post comments, clarifications, examples here. Click on the edit button on the right and away you go! 
Don't forget to refer to the FPL Discussion Groups to back up anything you write. You will often find the authoritative statements on matters of FIX specification interpretation there. Links from FIXwiki pages to relevant discussions on the FPL site are very valuable.
For example if you were writing a clarification on how to specify the "quantity" of an order in FIX, you might add the following relevant link, http://www.fixprotocol.org/discuss/read/f5014573, to back up your points.
Personal tools