A question about FIX style

, ,
1

Imported from previous forum

2

[ original email was from Bernt Sanden - bernt.sanden@omgroup.com ]
Hi,

I am writing a specification for a FIX engine that will be used in conjunction with our OMS system.

What should we do if the FIX Engine receives a FIX field that has no meaning in our OMS?

Should we reject the message or just ignore the irrelevant field?

Regars, Bernt Sandén

3

[ original email was from Ryan Pierce - rpierce@taltrade.com ]
> I am writing a specification for a FIX engine that will be used in conjunction with our OMS system.
>
> What should we do if the FIX Engine receives a FIX field that has no meaning in our OMS?
>
> Should we reject the message or just ignore the irrelevant field?

In general, most implementations I know of choose to ignore the fields. However, as you state, this is more of a question of style and preferences, rather than a hard and fast rule in the protocol.

However, your counterparties need to know exactly which fields you support. For instance, if a broker ignores MaxFloor, and an institution not knowing this sends them an order with OrderQty=1000000 and MaxFloor=1000, and all of the million shares get displayed to the market, people are going to be very upset.