This message type is normally sent by an ETC service provider to an institution or broker. It may also be sent by an institution to an executing broker to indicate allocations not yet matched, or by an executing broker to an institution to indicate client-side trade confirmations not yet affirmed. It may also be sent between brokers to indicate unmatched market-side trade confirmations.
This message provides, as at a specified date, the details of transactions received but not yet matched or affirmed, for all or selected securities in all or selected safekeeping accounts/sub-accounts, for all or selected reasons why the transaction is pending.