Confirmation (MsgType = AK, FIXML = Cnfm)

The Confirmation (AK) messages are used to provide individual trade level confirmations from thesell side to the buy side. In versions of FIX prior to version 4.4, this role was performed by the allocation message. Unlikethe allocation message, the confirmation message operates at an allocation account (trade) level rather than block level, allowingfor 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 thebuy-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.It is recommended that the sellside systemtrade reference be used as ConfirmID (664) where possible, in order to enablethe ConfirmID (664) to be used as a mutually understood trade reference (e.g. for use in manual conversationsregarding specific trades).

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

Tag	Field Name	FIXML	Req'd	Comments
<Standard Message Header>			Y	MsgType = AK
664	ConfirmID	@CnfmID	Y	Used to identify any commission shared with a third party (e.g. directed brokerage)
772	ConfirmRefID	@CnfmRefID	C	Mandatory if ConfirmTransType is Replace or Cancel
859	ConfirmReqID	@CnfmReqID	N	Only used when this message is used to respond to a confirmation request (to which this ID refers)
666	ConfirmTransType	@CnfmTransTyp	Y	New, Cancel or Replace
773	ConfirmType	@CnfmTyp	Y	Denotes whether this message represents a confirmation or a trade status message
797	CopyMsgIndicator	@CopyMsgInd	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	@LegalCnfm	N	Denotes whether this message represents the legally binding confirmation Absence of this field indicates message is not a legal confirm.
665	ConfirmStatus	@CnfmStat	Y	Identifies the status of the Confirmation.
573	MatchStatus	@MtchStat	N	The status of this trade with respect to matching or comparison.
940	AffirmStatus	@AffirmStat	N	Used to communicate an "affirmed" Confirmation(35=AK) status message (i.e. when ConfirmType(773) = 1 (Status)) to interested parties that need to or should receive such confirmation status message. This field must not be used when sending a Confirmation(35=AK) message that needs to be affirmed.
<RegulatoryTradeIDGrp>			N	Required if any miscellaneous fees are reported.
2390	TradeConfirmationReferenceID	@TrdCnfmRefID	N	A reference or control identifier or number used as a trade confirmation key. An example of a control identifier is the DTC ID Control Number.
1832	ClearedIndicator	@Clrd	N	Used to communicate the status of the central clearing workflow.
<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 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)
<OrdAllocGrp>			N	Indicates number of orders to be combined for allocation. If order(s) were manually delivered set to 1 (one).Required when AllocNoOrdersType = 1
<ExecAllocGrp>			N	An indication of the general description of the asset class.
70	AllocID	@AllocID	N	Used to refer to an earlier Allocation Instruction.
793	SecondaryAllocID	@AllocID2	N	Used to refer to an earlier Allocation Instruction via its secondary identifier
467	IndividualAllocID	@IndAllocID	N	Used to refer to an allocation account within an earlier Allocation Instruction.
828	TrdType	@TrdTyp	N	Type of trade assigned to a trade. SecondaryTrdType(855) and TertiaryTrdType(2896) may be used in addition to TrdType(828) to assign up to three different trade types to a single trade. Note: several enumerations of this field duplicate the enumerations in TradePriceCondition(1839) field. These may be deprecated from TrdType(828) in the future. TradePriceCondition(1839) is preferred in messages that support it.
829	TrdSubType	@TrdSubTyp	N	Further qualification to the trade type defined in TrdType(828).
855	SecondaryTrdType	@TrdTyp2	N	Type of trade assigned to a trade. Used in addition to TrdType(828). Must not be used when only one trade type needs to be assigned.
1937	TradeContinuation	@TrdContntn	N	Specifies the post-execution trade continuation or lifecycle event. Additional values may be used by mutual agreement of the counterparties.
2374	TradeContinuationText	@TrdContntnTxt	N	Free form text to specify additional trade continuation information or data.
2372	EncodedTradeContinuationTextLen	@EncTrdContntnTextLen	N	Must be set if EncodedTradeContinuationText(2371) field is specified and must immediately precede it.
2371	EncodedTradeContinuationText	@EncTrdContntnText	N	Encoded (non-ASCII characters) representation of the TradeContinuationText(2374) field in the encoded format specified via the MessageEncoding(347) field.
574	MatchType	@MtchTyp	N	The point in the matching process at which this trade was matched.
60	TransactTime	@TxnTm	Y	Represents the time this message was generated
75	TradeDate	@TrdDt	Y	Indicates date of trading day. Absence of this field indicates current day (expressed in local time at place of trade).
<TrdRegTimestamps>			N	Time of last execution being confirmed by this message. Use ExecutionTimestamp(2749) in ExecAllocGrp component when there are multiple trades.
<Instrument>			Y
<InstrumentExtension>			N
<FinancingDetails>			N
<UndInstrmtGrp>			N	Free form text to specify additional information or enumeration description when a standard value does not apply.
<InstrmtLegGrp>			N	Relevant settled entity matrix source.
<YieldData>			N
80	AllocQty	@Qty	Y	The quantity being confirmed by this message (this is at a trade level, not block or order level)
854	QtyType	@QtyTyp	N	Type of quantity specified in quantity field. ContractMultiplier (tag 231) is required when QtyType = 1 (Contracts). UnitOfMeasure (tag 996) and TimeUnit (tag 997) are required when QtyType = 2 (Units of Measure per Time Unit).
54	Side	@Side	Y	Side of order (see Volume : "Glossary" for value definitions)
15	Currency	@Ccy	N	Identifies currency used for price or quantity fields, depending on the asset class being traded. CurrencyCodeSource(2897) may be used to disambiguate the code source scheme used, and ISO 4217 is the default scheme if absent. Absence of this field is interpreted as the default currency for the security as defined by the respective reference data. It is recommended that systems provide the currency value whenever possible. For securities trading and digital assets traded securities-style, identifies the currency used to denote the price. Absence of this field is interpreted as the default for the security. For Foreign Exchange (FX) and digital assets traded FX-style, identifies the dealt currency used to denominate the quantity related field(s).
2897	CurrencyCodeSource	@CcySrc	N	Identifies class or source of the Currency(15) value.
30	LastMkt	@LastMkt	N	Market of execution for last fill, or an indication of the market where an order was routed Valid values: See "Appendix 6-C" In the context of ESMA RTS 1 Annex I, Table 3, Field 6 "Venue of Execution" it is required that the "venue where the transaction was executed" be identified using ISO 10383 (MIC). Additionally, ESMA requires the use of "MIC code 'XOFF' for financial instruments admitted to trading or traded on a trading venue, where the transaction on that financial instrument is not executed on a trading venue, systematic internaliser or organized trading platform outside of the Union. Use 'SINT' for financial instruments admitted to trading or traded on a trading venue, where the transaction is executed on a systematic internaliser."
<CpctyConfGrp>			Y	The broad asset category for assessing risk exposure.
79	AllocAccount	@Acct	Y	Account number for the trade being confirmed by this message
661	AllocAcctIDSource	@ActIDSrc	N	Used to identify the source of the AllocAccount (79) code. See AcctIDSource (660) for valid values.
798	AllocAccountType	@AcctTyp	N	Type of account associated with a confirmation or other trade-level message
6	AvgPx	@AvgPx	Y	Gross price for the trade being confirmed Always expressed in percent-of-par for Fixed Income
74	AvgPxPrecision	@AvgPxPrcsn	N	Absence of this field indicates that default precision arranged by the broker/institution is to be used
423	PriceType	@PxTyp	N	Price type for the AvgPx field
<PriceQualifierGrp>			N	Used for the calculated quantity of the other side of the currency for this leg. Can be derived from LegQty and LegLastPx.
860	AvgParPx	@AvgParPx	N	Used to express average price as percent of par (used where AvgPx field is expressed in some other way)
<SpreadOrBenchmarkCurveData>			N
861	ReportedPx	@RptedPx	N	Reported price (may be different to AvgPx in the event of a marked-up or marked-down principal trade)
58	Text	@Txt	N	Free format text string (Note: this field does not have a specified maximum length)
354	EncodedTextLen	@EncTxtLen	C	Byte length of encoded (non-ASCII characters) EncodedText (355) field.
355	EncodedText	@EncTxt	C	Encoded (non-ASCII characters) representation of the Text (58) field in the encoded format specified via the MessageEncoding (347) field. If used, the ASCII (English) representation should also be specified in the Text(58) field.
81	ProcessCode	@ProcCode	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	@GrossTrdAmt	Y	Gross trade amount for the allocated account being confirmed.
157	NumDaysInterest	@NumDaysInt	N	Number of Days of Interest for convertible bonds and fixed income. Note value may be negative.
230	ExDate	@ExDt	N	Optional "next coupon date" for Fixed Income
158	AccruedInterestRate	@AcrdIntRt	N	The amount the buyer compensates the seller for the portion of the next coupon interest payment the seller has earned but will not receive from the issuer because the issuer will send the next coupon payment to the buyer. Accrued Interest Rate is the annualized Accrued Interest amount divided by the purchase price of the bond.
159	AccruedInterestAmt	@AcrdIntAmt	N	Required for Fixed Income products that trade with accrued interest
738	InterestAtMaturity	@IntAtMat	N	Required for Fixed Income products that pay lump sum interest at maturity
920	EndAccruedInterestAmt	@EndAcrdIntAmt	N	For repurchase agreements the accrued interest on termination.
921	StartCash	@StartCsh	N	For repurchase agreements the start (dirty) cash consideration
922	EndCash	@EndCsh	N	For repurchase agreements the end (dirty) cash consideration
238	Concession	@Concession	N	Provides the reduction in price for the secondary market in Muncipals. (Note tag # was reserved in FIX 4.1, added in FIX 4.3)
237	TotalTakedown	@TotTakedown	N	The price at which the securities are distributed to the different members of an underwriting group for the primary market in Municipals, total gross underwriter's spread. (Note tag # was reserved in FIX 4.1, added in FIX 4.3)
118	NetMoney	@NetMny	Y	Total amount due as the result of the transaction (e.g. for Buy order - principal + commission + fees) reported in currency of execution.
890	MaturityNetMoney	@MatNetMny	N	Net Money at maturity if Zero Coupon and maturity value is different from par value
119	SettlCurrAmt	@SettlCurrAmt	N	Total amount due expressed in settlement currency (includes the effect of the forex transaction)
120	SettlCurrency	@SettlCcy	N	Currency code of settlement denomination.
2899	SettlCurrencyCodeSource	@SettlCcySrc	N	Identifies class or source of the SettlCurrency(120) value.
155	SettlCurrFxRate	@SettlCurrFxRt	N	Foreign exchange rate used to compute SettlCurrAmt(119) from Currency(15) to SettlCurrency(120).
156	SettlCurrFxRateCalc	@SettlCurrFxRtCalc	N	Specifies whether or not SettlCurrFxRate (155) should be multiplied or divided.
63	SettlType	@SettlTyp	N	Indicates order settlement period. If present, SettlDate (64) overrides this field. If both SettlType (63) and SettDate (64) are omitted, the default for SettlType (63) is 0 (Regular) Regular is defined as the default settlement period for the particular security on the exchange of execution. In Fixed Income the contents of this field may influence the instrument definition if the SecurityID (48) is ambiguous. In the US an active Treasury offering may be re-opened, and for a time one CUSIP will apply to both the current and "when-issued" securities. Supplying a value of "7" clarifies the instrument description; any other value or the absence of this field should cause the respondent to default to the active issue. Additionally the following patterns may be uses as well as enum values Dx = FX tenor expression for "days", e.g. "D5", where "x" is any integer > 0 Mx = FX tenor expression for "months", e.g. "M3", where "x" is any integer > 0 Wx = FX tenor expression for "weeks", e.g. "W13", where "x" is any integer > 0 Yx = FX tenor expression for "years", e.g. "Y1", where "x" is any integer > 0 Noted that for FX the tenors expressed using Dx, Mx, Wx, and Yx values do not denote business days, but calendar days.
64	SettlDate	@SettlDt	C	Specific date of trade settlement (SettlementDate) in YYYYMMDD format. If present, this field overrides SettlType (63). This field is required if the value of SettlType (63) is 6 (Future) or 8 (Sellers Option). This field must be omitted if the value of SettlType (63) is 7 (When and If Issued) (expressed in local time at place of settlement)
<SettlInstructionsData>			N
<CommissionData>			N
858	SharedCommission	@SharedComm	N	Used to identify any commission shared with a third party (e.g. directed brokerage)
<CommissionDataGrp>			N	Use as an alternative to CommissionData if multiple commissions or enhanced attributes are needed.
<Stipulations>			N	PartyID value within an instrument party repeating group. Same values as PartyID (448)
<MiscFeesGrp>			N	Required if any miscellaneous fees are reported.
<MatchExceptionGrp>			N
<MatchingDataPointGrp>			N
<Standard Message Trailer>			Y

All material contained within the website is copyright of EPAM Systems, Inc. No material contained herein can be copied or otherwise used without the express permission of the copyright holder.