Best way to communicate static data to counter-parties in FIX protocol

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Imported from previous forum

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We are currently using FIX4.4. There is a need for us to communicate certain static data to our counterparties.
This would fall under the pre-trading category, but I do not see any compatible message type in the FIX protocol

We are thinking of using a custom message type, but does someone know of a better way, ideally leveraging on whats already there in the FIX protocol

Thanks,
Harnit

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What is “static data”? Do you mean reference data about instruments, parties, accounts? There is a large set of messages already available for this purpose. You may need to use FIX mesage types from versions above 4.4 for this. The proposed approach is to use the standard MsgType(35) values prefixed with a single “U” to indicate a user-defined message for the FIX 4.x parser.

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Hi Hanno, Yes I meant reference data. I could not find the message types used to communicate reference data within the Fix protocol. Could you please name one of them

I just wanted to know the right approach, thanks. I checked the FIXiMate, but could not find any such messages

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Please take a look at the pre-trade messages in FIXimate and there in the following subsections:

“SecuritiesReferenceData” (15 messages) = Instruments and state changes
"MarketStructureReferenceData" (8 messages) = Markets, market segments and trading sessions
"PartiesReferenceData" (16 messages) = Actors, accounts, entitlements, risk limits

So there are a total of about 40 messages for reference data in FIX.