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Broker-only Routing (Confirmation)

Overview

Broker-Only Routing allows users to match Trade Confirmations in GEN, while routing Broker Confirmations to Equias.

Questions answered in this article:

  • What do I need to set up?
  • What does the Trade Confirmation need to contain?
  • What if the broker fee is not available when the Trade Confirmation is created?
  • How can I check whether it worked?
  • Why might the broker confirmation not be sent?

What do I need to set up?

Before using Broker-Only Routing, you need to configure the Broker Static Data and a Broker Routing Rule in GEN.

1. Set up the broker in Static Data

The broker needs to be configured in GEN with:

  • Role: Broker
  • EIC code: The Broker ID

Make sure the Broker ID used in your Trade Confirmation corresponds to the broker configured in GEN.

2. Create a Broker routing rule

Create a dedicated routing rule with:

  • Role: Broker
  • Counterparty: Broker ID

Make sure that the routing rule expected behaviour is already setup. For more information about the routing rule, you can check out the article: Routing Setup Guide.

What does the Trade Confirmation need to contain?

The Trade Confirmation must contain information identifying the broker.

If the broker fee is also available when the Trade Confirmation is created, the broker information has to include:

  • Broker ID
  • Total Fee
  • Fee Currency

For example:

<Agents>
  <Agent>
   <AgentType>Broker</AgentType>
   <Broker>
    <BrokerID>12ABCD-XXXX-CH</BrokerID>
    <TotalFee>106</TotalFee>
    <FeeCurrency>EUR</FeeCurrency>
   </Broker>
  </Agent>
</Agents>

What if the broker fee is not available when the Trade Confirmation is created?

If the Trade Confirmation is already in GEN without broker fee information, the Broker Fee Information (BFI) can be submitted separately at a later stage.

The BFI must:

  • Reference the relevant Trade Confirmation so GEN can link the broker fee to the correct trade.
  • Use the Broker ID as the ReceiverID.
  • Have Receiver Role = BROKER.

For example:

<BrokerFeeInformation>
<DocumentID>CNF_20260810_06</DocumentID>
<Version>1</Version>
<SenderID>11TESTACCOUNT-TE</SenderID>
<ReceiverID>12ABCD-XXXX-CH</ReceiverID>
<ReceiverRole>BROKER</ReceiverRole>
<LinkedTo>CNF_20260810_06</LinkedTo>
<TotalFee>106</TotalFee>
<FeeCurrency>EUR</FeeCurrency>
</BrokerFeeInformation> 

Once the configuration and required information are available, GEN automatically:

  1. Identifies the broker associated with the trade.
  2. Checks whether Broker-Only Routing applies.
  3. Routes the confirmation to the configured broker via Equias.
  4. The broker confirms the broker fee.
  5. GEN receives the confirmation status back from Equias.

No manual action is required once the setup is complete.

How can I check whether it worked?

Once the Broker fee in Equias is matched, you can review the Broker Status in the:

  • Documents overview 

  • Documents detail view

  • Broker matching statement

  • Audit Trail

Why might the broker confirmation not be sent?

Broker-Only Routing will only be triggered when the required conditions are met.

Check the following:

  • Is a broker fee specified in the Trade Confirmation?
  • Can the broker be identified using the Broker ID?
  • Is the broker configured correctly in Static Data?
  • Does the broker have the correct Broker ID?
  • Is a Broker routing rule configured?
  • Does the routing rule use the correct Broker ID as the Counterparty?
  • Does the trade match the routing rule criteria?
  • If the broker fee is sent separately, does the BFI reference the correct Trade Confirmation?

If everything appears to be configured correctly but the broker does not receive the confirmation, please contact Fidectus Support Team with the relevant trade or confirmation details so that we can investigate further.

Other related resources: