Sent by the Clearing House whenever a process creates or modifies an operation.
The process types that can cause this message to be sent are exhaustively listed in OperationAffectingProcessType.
The following flow shows the messages involved in the capture process.
Both legs receive a TradeOperationsSnapshot containing one element each (the captured operation).
R1: When UpdateReason is 1, 21, or 23, the operation list contains 1 (one) element.
When UpdateReason is 61, the operation list contains a variable number of elements.
In all other cases, the operation list contains 2 (two) elements.
R2: When CreationReason is 1, 21, or 23, the previous operation identifier will not be populated.
For capture, this is because there is no previous identifier. In give-up scenarios, the previous identifier would point to an operation at another participant and must not be known.
R3: In most cases, ExecutingParticipantCode = CarryingCode.
They differ only in give-up scenarios.
| Index | Field | Type | Required | Description | Rules |
|---|---|---|---|---|---|
| 1 | UpdateReason | integer | YES | Process causing this update. E.g.: "Capture", "Allocation Cancellation", ... Possible values: OperationAffectingProcessType |
|
| 2 | TradeOperations | array | YES | List of updated states of the affected operations | R1 |
| 2.1 | OperationCode | string | YES | Unique identifier assigned by the Clearinghouse to the operation | |
| 2.2 | Tracking | object | YES | Information used to trace the operation history | |
| 2.2.1 | CreationReason | integer | YES | Process that created this operation. E.g.: "Capture", "Give-up", ... Possible values: OperationAffectingProcessType |
|
| 2.2.2 | PreviousOperationCode | string | NO | Identifier of the previous operation | R2 |
| 2.2.3 | ExecutingParticipantCode | string | YES | Executing participant code | R3 |
| 2.3 | PositionAccountAddress | object | YES | Address of the position account where the operation is held. Also known as the 'triplet' (Clearing Member-Carrying Participant-Account) | |
| 2.3.1 | ClearingMemberCode | string | YES | Clearing member code | |
| 2.3.2 | CarryingCode | string | YES | Full trading participant or settlement participant code | |
| 2.3.3 | AccountCode | string | YES | Account code | |
| 2.4 | RequestedCustodian | object | NO | Designated custodian, when applicable. This does not mean that the designation was accepted | |
| 2.4.1 | CustodianCode | string | YES | Custodian code | |
| 2.4.2 | AccountCode | string | YES | Deposit account code | |
| 2.5 | SubAccountCode | string | YES | Subaccount code | |
| 2.6 | Instrument | object | YES | Information about the financial instrument | |
| 2.6.1 | Identification | object | YES | Instrument identification | |
| 2.6.1.1 | Id | string | YES | Unique instrument identifier | |
| 2.6.1.2 | Source | string | YES | Identifier source. Always "BASE" | |
| 2.6.2 | TickerSymbol | string | YES | Ticker used in the trading environment | |
| 2.7 | Side | integer | YES | Side (buy or sell) Possible values: TradeSide |
|
| 2.8 | Quantity | integer | YES | Quantity associated with the operation | |
| 2.9 | Price | decimal | YES | Price associated with the operation | |
| 2.10 | SettlementDate | string | YES | Settlement date of the operation |
{
"UpdateReason": 11,
"TradeOperations": [
{
"OperationCode": "E22FCABBA8FB41A096F9AF4088FD9B4C",
"Tracking": {
"CreationReason": 1,
"ExecutingParticipantCode": "22"
},
"PositionAccountAddress": {
"ClearingMemberCode": "22",
"CarryingCode": "22",
"AccountCode": "1001"
},
"SubAccountCode": "4101-1",
"Instrument": {
"Identification": {
"Id": "56A7884931364323945C7139C758AA36",
"Source": "BASE"
},
"TickerSymbol": "EXPL3"
},
"Side": 1,
"Quantity": 70,
"Price": 1.23,
"SettlementDate": "2026-06-26"
},
{
"OperationCode": "3B14068D2F204A668AFEEA74D5990F4A",
"Tracking": {
"CreationReason": 11,
"PreviousOperationCode": "E22FCABBA8FB41A096F9AF4088FD9B4C",
"ExecutingParticipantCode": "22"
},
"PositionAccountAddress": {
"ClearingMemberCode": "22",
"CarryingCode": "22",
"AccountCode": "1053"
},
"SubAccountCode": "4101-1",
"Instrument": {
"Identification": {
"Id": "56A7884931364323945C7139C758AA36",
"Source": "BASE"
},
"TickerSymbol": "EXPL3"
},
"Side": 1,
"Quantity": 30,
"Price": 1.23,
"SettlementDate": "2026-06-26"
}
]
}