Adhoc Request for Execution Report and UserDefined MsgType(D) Creation

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Imported from previous forum

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Hi Everybody,
1) How i can provide the support for adhoc request to get the Execution Report.
Which Request can be used from existing requests of FIX.4.2.

 (New MsgType for request as well as response )
2)  If i want to create user-defined msgtype (D),
         to support particular feature,
   can i able to do so, in FIX.4.2.
    
Please Guide.
Thanks in advance.
3

Hi Nilesh,

Regarding user defined message type, the following are the two options in FIX 4.2 ( Reference ‘fix-42-with_errata_20010501_pdf’ ) :-

I) In page 154 (156 of 283) :-

“Tag 35 : MsgType - String Defines message type. ALWAYS THIRD FIELD IN
MESSAGE. (Always unencrypted)
Note: A “U” as the first character in the MsgType field (i.e. U1, U2, etc) indicates that the message format is privately defined between the sender and receiver.”

II) In page 15 (17 of 283) :-

“User Defined Fields:
In order to provide maximum flexibility for its users, the FIX protocol accommodates User Defined Fields. These fields are intended to be implemented between consenting trading partners and should be used with caution to avoid conflicts, which will arise as multiple parties begin implementation of the protocol. It is suggested that if trading partners find that particular User Defined Fields add value, they should be recommended to the FIX Technical Committee for inclusion in a future FIX version.
The tag numbers 5000 to 9999 have been reserved for use with user defined fields, which are used as part of inter-firm communcation. These tags can be registered / reserved via the FIX website.”

Regards,
K. Mahesh

Hi Everybody,
1) How i can provide the support for adhoc request to get the
Execution Report. Which Request can be used from existing
requests of FIX.4.2.

 (New MsgType for request as well as response )
2)  If i want to create user-defined msgtype (D), to support
    particular feature, can i able to do so, in FIX.4.2.

Please Guide. Thanks in advance.
4

Thanks Mahesh…

Hi Nilesh,

Regarding user defined message type, the following are the two options
in FIX 4.2 ( Reference ‘fix-42-with_errata_20010501_pdf’ ) :-

I) In page 154 (156 of 283) :-

“Tag 35 : MsgType - String Defines message type. ALWAYS THIRD FIELD IN
MESSAGE. (Always unencrypted)
Note: A “U” as the first character in the MsgType field (i.e. U1, U2,
etc) indicates that the message format is privately defined
between the sender and receiver.”

II) In page 15 (17 of 283) :-

“User Defined Fields: In order to provide maximum flexibility for its
users, the FIX protocol accommodates User Defined Fields. These fields
are intended to be implemented between consenting trading partners and
should be used with caution to avoid conflicts, which will arise as
multiple parties begin implementation of the protocol. It is suggested
that if trading partners find that particular User Defined Fields add
value, they should be recommended to the FIX Technical Committee for
inclusion in a future FIX version. The tag numbers 5000 to 9999 have
been reserved for use with user defined fields, which are used as part
of inter-firm communcation. These tags can be registered / reserved via
the FIX website.”

Regards,
K. Mahesh

Hi Everybody,
1) How i can provide the support for adhoc request to get the
Execution Report. Which Request can be used from existing
requests of FIX.4.2.

 (New MsgType for request as well as response )
2)  If i want to create user-defined msgtype (D), to support
    particular feature, can i able to do so, in FIX.4.2.

Please Guide. Thanks in advance.
5

[ original email was from Jeremy Sutton - jezza.sutton@patsystems.com ]
In general I would feel it better to look to higher versions of FIX and use those features rather than creating a user defined message (if this is possible in your case). That said, I have seen other parties use message types like 35=U1 for things outside of FIX scope.

For requesting an execution report, you could use an Order Status Request 35=H which should return an execution report 35=8. That might satisfy your requirement.

A note on user defined tags (again something I try and avoid if at all possible). The range above 10000 is supposed to be internal to a company and if you are exposing tags to a counter-party in the real world you are supposed to use 5000+ and register them.

Both custom tags and custom messages can make your application less attractive to the global community as it ensures the counter party will need to do some specific coding and may even require the counter party’s FIX engine provider to make changes to cope with your custom changes (although this is less common a problem in these more modern times).

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Choices : Upgrading to higher FIX version -vs- Custom message types -vs- User defined fields -vs- Multipe sessions ( one per FIX version ) between same parties -vs- Mixing different FIX versions in same session

http://www.fixprotocol.org/discuss/read/3a6cfd8f

In general I would feel it better to look to higher versions of FIX and
use those features rather than creating a user defined message (if this
is possible in your case). That said, I have seen other parties use
message types like 35=U1 for things outside of FIX scope.

For requesting an execution report, you could use an Order Status
Request 35=H which should return an execution report 35=8. That might
satisfy your requirement.

A note on user defined tags (again something I try and avoid if at all
possible). The range above 10000 is supposed to be internal to a company
and if you are exposing tags to a counter-party in the real world you
are supposed to use 5000+ and register them.

Both custom tags and custom messages can make your application less
attractive to the global community as it ensures the counter party will
need to do some specific coding and may even require the counter party’s
FIX engine provider to make changes to cope with your custom changes
(although this is less common a problem in these more modern times).