Flexible premium arrangement (FPR): orders (messages 5 and 6)
Orders in the FPR: netting, trade instruction (5) and order confirmation (6)
In the FPR the PUO nets participant mutations into orders per fund and sends them with message 5 to the investment administrator (BA), which confirms the execution with message 6. Which party processes the order (broker, transfer agent or order desk) does not change the data exchange. The fiduciary advises on lifecycles and fund selection.
Steps
- Daily or per cyclePUOTranslate participant-level mutations into net transactions per investment fund (netting).
- OrderPUO → BAMessage 5 Trade instruction with buy, sell or switchfrom/switchto per fund. 00541
- ExecutionFund providerExecution and any sub-ordering on underlying funds, outside the standard.
- ConfirmationBA → PUOMessage 6 Order confirmation with executed quantities and price; PUO updates the unit administration. 00542
Rules and consistency checks
- Value administration is optional and can sit with the PUO, investment administrator or custodian.
- Collective flows (risk premiums, reserves) use the SPR messages.
Source: Handleiding paragraaf 4.2 en 4.3.5; tabel 12 (paragraaf 6.4)