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When an order is placed directly in a customer account, is the firmDesignatedID (FDID) in the New Order event (MENO) or New Option Order event (MONO) required to be the same as the firmDesignatedID in the Post-Trade Allocation event (MEPA) or Option Post-

When an order is placed directly in a customer account, is the firmDesignatedID (FDID) in the New Order event (MENO) or New Option Order event (MONO) required to be the same as the firmDesignatedID in the Post-Trade Allocation event (MEPA) or Option Post-Trade Allocation event (MOPA)?

The answer depends on whether the Industry Member is self-clearing, and therefore responsible for reporting both the new order events and the allocation events involving the same FDID assigned by the self-clearing firm.  For Industry Members that are self-clearing, the FDID on the MENO/MONO must be the same as the FDID on the MEPA/MOPA when an order is placed directly into the customer account. In this scenario, the newOrderFDID field must be populated on the Industry Member’s MEPA/MOPA event, and would be the same as the value populated in the firmDesignatedID field. 

For Industry Members that are not self-clearing, the FDID on the MENO/MONO, which is assigned by the correspondent firm, may be different from the FDID on the MEPA/MOPA, which is assigned by the clearing firm.  If the clearing firm knows the FDID assigned by the correspondent firm that was reported on the MENO/MONO, the clearing firm must populate it in the newOrderFDID field on the clearing firm’s MEPA/MOPA event.