Investment managers and broker/dealers submit TBAs in the TradeLevelInformation composite of the TradeLevel or TradeDetail message. The bold values in the following partial TradeLevel show where you designate a TBA trade and the stipulations for that trade.
...
<TradeLevelInformation>
<TypeOfTransactionIndicator>TRAD</TypeOfTransactionIndicator>
<BuySellIndicator>SELL</BuySellIndicator>
<TypeOfFinancialInstrument>TBAN</TypeOfFinancialInstrument>
<DealPrice>
<CurrencyCode>USD</CurrencyCode>
<Amount>204,</Amount>
</DealPrice>
...
<StipulationsStandard>
<StipulationCodeStandard>ARMCAP</StipulationCodeStandard>
<StipulationValueStandard>
<StipulationNumeric>10,0</StipulationNumeric>
</StipulationValueStandard>
</StipulationsStandard>
<StipulationsStandard>
<StipulationCodeStandard>INTONLY1020</StipulationCodeStandard>
<StipulationValueStandard>
<StipulationYOrN>Y</StipulationYOrN>
</StipulationValueStandard>
</StipulationsStandard>
<StipulationsNonStandard>
<StipulationCodeNonStandard>NSTYPE</StipulationCodeNonStandard>
<StipulationValueNonStandard>2</StipulationValueNonStandard>
</StipulationsNonStandard>
...
For more information about submitting TBAs using the direct XML interface, see Chapter 3. Trade Messages in the pdf XML Message Specification: Debt/Equity and Common Messages (1.79 MB)