Roles

VB-PUO for the Broker, transfer agent or order desk

The party that processes orders: a broker, transfer agent or order desk (manual section 4.2). That choice does not change the data exchange. In Tabel 12 of the final manual this party is not a sender or receiver of its own: the trade instruction (5) goes from the PUO to the investment administrator and the order confirmation (6) from the investment administrator to the PUO. Message 6 can name these parties, in the fields broker, clearingBroker and counterparty (the transfer agent). Operational asset managers and brokers are otherwise instructed bilaterally, outside the standard.

Checklist

• A non-executable order leads to a rejection with feedback statusType 0 and a classified errorCode from the receiver of message 5.
• Match switch pairs on financialInformationRef.
• tradeAmount mandatory in the confirmation, other fields optional since Release 2027; if tradeQuantity and tradePrice are both present, tradeQuantity × tradePrice equals tradeAmount (manual section 6.3.2).

Deadlines

• Confirmation at T+3.