Imported from previous forum
[ original email was from Raj Patel - raj.t.patel@hsbcgroup.com ]
Hello,
Has anyone come across this scenario before and found a resolution?
Basically This is where a client is trading in one time zone but the trade is back office’d (Settled) in another and where it is necessary to amended the trade in the back office for the client.
The trade amendment therefore has different times on the trade once it’s amended and on the trade message returned to the client.
The trade may be amended when received (i.e. in minutes when the instruction to amend is received) in the back office but the time differential is that much greater as the client and the back office operate at local times in different time zones.
How does the client and customer (The back office in this example) reconcile the changes?
How can the time deferential be allowed for in the trade message via the time fields?
Thanks for the help
Regards,
Raj Patel
All times are represented within a FIX message in UTC (Universal Time Coordinated) (also referred to as GMT) so I don’t think your scenario should present a problem.
> Hello,
> Has anyone come across this scenario before and found a resolution?
>
> Basically This is where a client is trading in one time zone but the trade is back office’d (Settled) in another and where it is necessary to amended the trade in the back office for the client.
>
> The trade amendment therefore has different times on the trade once it’s amended and on the trade message returned to the client.
>
> The trade may be amended when received (i.e. in minutes when the instruction to amend is received) in the back office but the time differential is that much greater as the client and the back office operate at local times in different time zones.
>
> How does the client and customer (The back office in this example) reconcile the changes?
>
> How can the time deferential be allowed for in the trade message via the time fields?
>
> Thanks for the help
> Regards,
> Raj Patel
>
>