This message is sent by an instructing party, eg, a client, or its authorised representative to an executing party, eg, broker-dealer.
This message is used to instruct the allocation of a block trade. One allocation may be contained in each message. Settlement details are optional and may be provided where standing instructions do not apply or are not available.
It may also be used to:
request the cancellation of a previously sent allocation instruction
re-send an allocation instruction previously sent
provide a third party with a copy of the message (be it the instruction or request for cancellation) being sent
provide pre-allocation details which must be linked back to the original order to buy.
This message may be sent directly or via an ETC service provider between parties to the trade. It may also be sent as a copy from the instructing party to the custodian to provide early settlement information, where an agreement to this effect exists.
This message must not be sent from an ETC service provider to a custodian.