The allocation record instructs a broker on how to allocate executed shares to sub-accounts. The allocation record can also be used as a confirmation message through which third parties can communicate execution and settlement details between trading partners. In addition, the allocation record can be sent by the broker to communicate fees and other details which can only be computed once the sub-account breakdowns are known.
An allocation (J) message can be submitted as preliminary, calculated, new, cancel or replace. The AllocTransType (71) field indicates the purpose of the message. When submitting calculated, replace, or cancel allocation (J) messages the RefAllocID (72) field is required. Replacement allocation (J) messages must contain all data for the replacement allocation. Calculated allocations should have a unique AllocID (70) and use RefAllocID (72) to specify the AllocID (70) from the preliminary.
The allocation record contains repeating fields for each order, sub-account and individual execution. The field's relative position in the record is important. For example, each instance of allocation must be in the order shown below.
The typical flow for US domestic trading (without MiscFees (136) ) is as follows:
| Institution | ---> | Allocation (J) ( AllocTransTyp (71) =New) | Broker |
| <--- | AllocationACK (P) ( AllocStatus (87) =Received Not Yet Processed) | ||
| <--- | AllocationACK (P) ( AllocStatus (87) =Accepted or Rejected) | ||
| ---> | Settlement Instructions (T) (optional) ( SettlInstSource (165) =Institution's) | ||
| <--- | Settlement Instructions (T) (optional) ( SettlInstSource (165) =Broker's) |
The typical flow for international trading (with MiscFees (136) ) is as follows:
| Institution | ---> | Allocation (J) ( AllocTransTyp (71) =Preliminary, AllocAccounts provided without MiscFees (136) or NetMoney (118) ) | Broker |
| <--- | AllocationACK (P) ( AllocStatus (87) =Received Not Yet Processed) | ||
| <--- | Allocation (J) ( AllocTransTyp (71) =Calculated, MiscFees (136) and NetMoney (118) provided by AllocAccount (79) ) | ||
| ---> | AllocationACK (P) ( AllocStatus (87) =Received Not Yet Processed) | ||
| ---> | AllocationACK (P) ( AllocStatus (87) =Accepted or Rejected) | ||
| ---> | Settlement Instructions (T) (optional*) ( SettlInstSource (165) =Institution's) | ||
| <--- | Settlement Instructions (T) (optional*) ( SettlInstSource (165) =Broker's) |
*Settlement Instructions may occur anywhere in the flow and may represent standing instructions.
| Tag | Field Name | FIXML | Req'd | Comments | |||
|---|---|---|---|---|---|---|---|
| <Standard Message Header> | Y | MsgType = J | |||||
| 70 | AllocID | AllocID | Y | ||||
| 71 | AllocTransType | AllocTransType | Y | ||||
| 72 | RefAllocID | RefAllocID | C | Required for AllocTransType (71) = Calculated, Replace, or Cancel | |||
| 196 | AllocLinkID | AllocLinkID | N | Can be used to link two different Allocation (J) messages (each with unique AllocID (70) ) together, i.e. for F/X "Netting" or "Swaps" | |||
| 197 | AllocLinkType | AllocLinkType | C | Can be used to link two different Allocation (J) messages and identifies the type of link. Required if AllocLinkID (196) is specified. | |||
| 73 | NoOrders | NoOrders | C | Indicates number of orders to be combined for allocation. If order(s) were manually delivered set to 1 (one). Not required for AllocTransType (71) =Cancel | |||
| => | 11 | ClOrdID | ClOrdID | C | 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". Not required for AllocTransType (71) =Cancel | ||
| => | 37 | OrderID | OrderID | N | |||
| => | 198 | SecondaryOrderID | SecondaryOrderID | N | Can be used to provide order id used by exchange or executing system. | ||
| => | 66 | ListID | ListID | N | Required for List Orders. | ||
| => | 105 | WaveNo | WaveNo | N | |||
| 124 | NoExecs | NoExecs | C | Indicates number of individual execution record groups to follow. Absence of this field indicates that no individual execution records are included. Primarily used to support step-outs. | |||
| => | 32 | LastShares | LastShares | C | Number of shares in individual execution. Required if NoExecs (124) > 0 | ||
| => | 17 | ExecID | ExecID | N | |||
| => | 31 | LastPx | LastPx | C | Price of individual execution. Required if NoExecs (124) > 0 | ||
| => | 29 | LastCapacity | LastCapacity | N | Can be specified by broker for AllocTransType (71) =Calculated | ||
| 54 | Side | Side | Y | ||||
| 55 | Symbol | Symbol | Y | ||||
| 65 | SymbolSfx | SymbolSfx | N | ||||
| 48 | SecurityID | SecurityID | N | ||||
| 22 | IDSource | IDSource | N | ||||
| 167 | SecurityType | SecurityType | N | Must be specified if a Future or Option. If a Future: Symbol (55) , SecurityType (167) , and MaturityMonthYear (200) are required. If an Option: Symbol (55) , SecurityType (167) , MaturityMonthYear (200) , PutOrCall (201) , and StrikePrice (202) are required. | |||
| 200 | MaturityMonthYear | MonthYear | C | For Options or Futures to specify the month and year of maturity. | |||
| 205 | MaturityDay | Day | N | For Options or Futures and can be used in conjunction with MaturityMonthYear (200) to specify a particular maturity date. | |||
| 201 | PutOrCall | PutCall | C | For Options. | |||
| 202 | StrikePrice | StrikePx | C | For Options. | |||
| 206 | OptAttribute | OptAttribute | N | For Options. | |||
| 207 | SecurityExchange | SecurityExch | N | Can be used to identify the security. | |||
| 106 | Issuer | Issuer | N | ||||
| 107 | SecurityDesc | SecurityDesc | N | ||||
| 53 | Shares | Shares | Y | Total number of shares allocated to all accounts | |||
| 30 | LastMkt | LastMkt | N | Market of the executions. | |||
| 6 | AvgPx | AvgPx | Y | For F/X orders, should be the "all-in" rate (spot rate adjusted for forward points). | |||
| 15 | Currency | Currency | N | Currency of AvgPx (6) . Should be the currency of the local market or exchange where the trade was conducted. | |||
| 74 | AvgPrxPrecision | AvgPxPrecision | N | Absence of this field indicates that default precision arranged by the broker/institution is to be used | |||
| 75 | TradeDate | TradeDate | Y | ||||
| 60 | TransactTime | TransactTime | N | Date/time when allocation is generated | |||
| 63 | SettlmntTyp | Settlement | N | Absence of this field is interpreted as Regular | |||
| 64 | FutSettDate | FutSettDate | C | Required with SettlmntTyp other than regular | |||
| 118 | NetMoney | NetMoney | N | Expressed in same currency as AvgPx (6) . Sum of AllocNetMoney (154) . | |||
| 77 | OpenClose | OpenClose | N | ||||
| 58 | Text | Text | N | ||||
| 157 | NumDaysInterest | NoDaysInterest | N | Applicable for Convertible Bonds and fixed income | |||
| 158 | AccruedInterestRate | AccruedInterestRate | N | Applicable for Convertible Bonds and fixed income | |||
| 78 | NoAllocs | NoAllocs | C | Indicates number of allocation groups to follow. Not required for AllocTransType (71) =Cancel | |||
| => | 79 | AllocAccount | AllocAcct | C | May be the same value as BrokerOfCredit (92) if ProcessCode (81) is step-out or soft-dollar step-out and Institution does not wish to disclose individual account breakdowns to the ExecBroker (76) . Not required for AllocTransType (71) =Cancel | ||
| => | 80 | AllocShares | AllocShares | Y | |||
| => | 81 | ProcessCode | ProcessCode | N | |||
| => | 92 | BrokerOfCredit | BrokerOfCredit | C | Required if ProcessCode (81) is step-out or soft-dollar step-out | ||
| => | 208 | NotifyBrokerOfCredit | NotifyBrokerOfCredit | N | |||
| => | 209 | AllocHandlInst | AllocHandInst | N | |||
| => | 161 | AllocText | AllocText | N | Free format text field related to this AllocAccount (79) | ||
| => | 76 | ExecBroker | ExecBroker | C | Required for step-in and step-out trades | ||
| => | 109 | ClientID | ClientID | N | Used for firm identification in third-party transactions. | ||
| => | 12 | Commission | CommAmt | N | |||
| => | 13 | CommType | CommType | N | |||
| => | 153 | AllocAvgPx | AllocAvgPx | N | AvgPx for this AllocAccount (79) . For F/X orders, should be the "all-in" rate (spot rate adjusted for forward points) for this allocation. | ||
| => | 154 | AllocNetMoney | AllocNetMoney | N | NetMoney for this AllocAccount (79) . (( AllocShares (80) * AllocAvgPx (153) ) - Commission (12) - sum of MiscFeeAmt (137) - AccruedInterestAmt (159) ) if a Sell. (( AllocShares (80) * AllocAvgPx (153) ) + Commission (12) + sum of MiscFeeAmt (137) + AccruedInterestAmt (159) ) if a Buy. | ||
| => | 119 | SettlCurrAmt | SettCurrAmt | N | AllocNetMoney (154) in SettlCurrency (120) for this AllocAccount (79) if SettlCurrency (120) is different from "overall" Currency (15) | ||
| => | 120 | SettlCurrency | SettCurrency | N | SettlCurrency for this AllocAccount (79) if different from "overall" Currency (15) . Required if SettlCurrAmt (119) is specified. | ||
| => | 155 | SettlCurrFxRate | SettCurrForexRate | N | Foreign exchange rate used to compute SettlCurrAmt (119) from Currency (15) to SettlCurrency (120) | ||
| => | 156 | SettlCurrFxRateCalc | SettCurrForexRateCalc | N | Specifies whether the SettlCurrFxRate (155) should be multiplied or divided | ||
| => | 159 | AccruedInterestAmt | AccruedInterestAmt | N | Applicable for Convertible Bonds and fixed income | ||
| => | 160 | SettlInstMode | N | Type of Settlement Instructions which will be provided via Settlement Instructions (T) message | |||
| => | 136 | NoMiscFees | NoMiscFees | C | Required if any miscellaneous fees are reported. Indicates number of repeating entries. Repeating group within Alloc repeating group. | ||
| => | => | 137 | MiscFeeAmt | MiscFeeAmt | C | Required if NoMiscFees (136) > 0 | |
| => | => | 138 | MiscFeeCurr | MiscFeeCurr | C | Required if NoMiscFees (136) > 0 | |
| => | => | 139 | MiscFeeType | MiscFeeType | C | Required if NoMiscFees (136) > 0. (can only occur once within a MiscFee group) | |
| <Standard Message Trailer> | Y | ||||||
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