Imported from previous forum
All
I hope some of you out there will be able to shed some light on this for me.
Having looked at the FIX spec I was wondering whether the required 55 field could contain a alternative security ID (CUSIP,SEDOL etc) together
with tag 22 which would identify which alternative security symbol was being used.
Presently, I believe that tags 22 & 48 when used in conjunction are used to identify alternative security codes. I have talked about this with a couple of brokers and they seem to think that a message utilising 55 and 22 and not 48 would be rejected.
Can anyone help?
In relation to FIX 4.0, I have the following comments.
I think 22 and 48 are related fields. If you supplied 22 but not 48, you might find your message rejected because of this. If you supply neither your message would be accepted as 22 and 48 are not required fields for ‘New Order - Single’ messages.
55 is simply the ‘ticker’ (because of the US legacy of FIX). In Europe, RIC codes seem to be used a lot in this field for non-US securities - at least in testing that I have carried out. I don’t know what the official line on this is, I’m afraid - perhaps someone else could comment.
Some brokers that I have talked to (in Europe) seem to use 48 and 22 to determine the security if possible and then use 55 if no match is found. Some also require that currency field 15 is also supplied to identify the security.
Regards
Angus Wathen
Equity Dealing Technology
Goldman Sachs Asset Management International
Phone: +44 207 774 5581
Fax: +44 207 552 3368
Email: angus.wathen@gs.com
> All
>
> I hope some of you out there will be able to shed some light on this for me.
>
> Having looked at the FIX spec I was wondering whether the required 55 field could contain a alternative security ID (CUSIP,SEDOL etc) together
> with tag 22 which would identify which alternative security symbol was being used.
>
> Presently, I believe that tags 22 & 48 when used in conjunction are used to identify alternative security codes. I have talked about this with a couple of brokers and they seem to think that a message utilising 55 and 22 and not 48 would be rejected.
>
> Can anyone help?
>
>
>
>
>
Tag 22 (IDSource) and 48 (SecurityID) are “a pair” and should be used together. IDSource identifies the type/source of the SecurityID value. These fields are not required. The Symbol field is required. It is possible to populate the Symbol (tag 55) field with the same value as SecurityID to accomodate the required Symbol field in the event that one only uses a single symbology type. Typically implementations will provide a more human understandable security id in the Symbol field and a numeric (CUSIP, SEDOL, ISIN, etc) oriented security id in the IDSource/SecurityID fields. Note that one’s business rules drive what one expects and the precedence given over IDSource/SecurityID. Typically implementations make IDSource/SecurityID take precedence over Symbol.
> In relation to FIX 4.0, I have the following comments.
>
> I think 22 and 48 are related fields. If you supplied 22 but not 48, you might find your message rejected because of this. If you supply neither your message would be accepted as 22 and 48 are not required fields for ‘New Order - Single’ messages.
>
> 55 is simply the ‘ticker’ (because of the US legacy of FIX). In Europe, RIC codes seem to be used a lot in this field for non-US securities - at least in testing that I have carried out. I don’t know what the official line on this is, I’m afraid - perhaps someone else could comment.
>
> Some brokers that I have talked to (in Europe) seem to use 48 and 22 to determine the security if possible and then use 55 if no match is found. Some also require that currency field 15 is also supplied to identify the security.
>
>
> Regards
>
> Angus Wathen
> Equity Dealing Technology
> Goldman Sachs Asset Management International
>
> Phone: +44 207 774 5581
> Fax: +44 207 552 3368
> Email: angus.wathen@gs.com
>
> > All
> >
> > I hope some of you out there will be able to shed some light on this for me.
> >
> > Having looked at the FIX spec I was wondering whether the required 55 field could contain a alternative security ID (CUSIP,SEDOL etc) together
> > with tag 22 which would identify which alternative security symbol was being used.
> >
> > Presently, I believe that tags 22 & 48 when used in conjunction are used to identify alternative security codes. I have talked about this with a couple of brokers and they seem to think that a message utilising 55 and 22 and not 48 would be rejected.
> >
> > Can anyone help?
> >
> >
> >
> >
> >
>
[ original email was from Gregory Farnoli - greg@davidge.com ]
When you send Tag 22 and 48 you may also want to send Tag 100 (ExDestination)if Tag 22=4 ISIN. Sedol’s are exchange specfic but ISIN is country of corporation specfic.
Greg Farnoli
S1
> Tag 22 (IDSource) and 48 (SecurityID) are “a pair” and should be used together. IDSource identifies the type/source of the SecurityID value. These fields are not required. The Symbol field is required. It is possible to populate the Symbol (tag 55) field with the same value as SecurityID to accomodate the required Symbol field in the event that one only uses a single symbology type. Typically implementations will provide a more human understandable security id in the Symbol field and a numeric (CUSIP, SEDOL, ISIN, etc) oriented security id in the IDSource/SecurityID fields. Note that one’s business rules drive what one expects and the precedence given over IDSource/SecurityID. Typically implementations make IDSource/SecurityID take precedence over Symbol.
>
>
> > In relation to FIX 4.0, I have the following comments.
> >
> > I think 22 and 48 are related fields. If you supplied 22 but not 48, you might find your message rejected because of this. If you supply neither your message would be accepted as 22 and 48 are not required fields for ‘New Order - Single’ messages.
> >
> > 55 is simply the ‘ticker’ (because of the US legacy of FIX). In Europe, RIC codes seem to be used a lot in this field for non-US securities - at least in testing that I have carried out. I don’t know what the official line on this is, I’m afraid - perhaps someone else could comment.
> >
> > Some brokers that I have talked to (in Europe) seem to use 48 and 22 to determine the security if possible and then use 55 if no match is found. Some also require that currency field 15 is also supplied to identify the security.
> >
> >
> > Regards
> >
> > Angus Wathen
> > Equity Dealing Technology
> > Goldman Sachs Asset Management International
> >
> > Phone: +44 207 774 5581
> > Fax: +44 207 552 3368
> > Email: angus.wathen@gs.com
> >
> > > All
> > >
> > > I hope some of you out there will be able to shed some light on this for me.
> > >
> > > Having looked at the FIX spec I was wondering whether the required 55 field could contain a alternative security ID (CUSIP,SEDOL etc) together
> > > with tag 22 which would identify which alternative security symbol was being used.
> > >
> > > Presently, I believe that tags 22 & 48 when used in conjunction are used to identify alternative security codes. I have talked about this with a couple of brokers and they seem to think that a message utilising 55 and 22 and not 48 would be rejected.
> > >
> > > Can anyone help?
> > >
> > >
> > >
> > >
> > >
> >
>