In certain scenarios (e.g., institutional, managed accounts), the trading account structure may not be available when a new order is first received from a client and instead, only an identifier representing the client’s trading relationship is available. In these limited instances, the Industry Member may populate the Firm Designated ID (“FDID”) with an identifier used by the firm to represent the client’s trading relationship with the Industry Member (“Relationship ID”) instead of an account number. 

An example of such an identifier could be as follows:

• Big Fund Manager is known in Industry Member A’s systems as “Big Fund Manager.”
• When an order is placed by Big Fund Manager, the order is tagged to Big Fund Manager.
• Industry Member A could use BFM1 (a masked version of the relationship with the customer) as the FDID when reporting a new order from Big Fund Manager instead of the account numbers to which executed shares/contracts will be allocated at a later time via a booking or other system.