Imported from previous forum
[ original email was from Jon Jenkins - jj@java2go.com ]
Looking through the specs - I can’t see a way of indicating a Buy to Cover (purchase of securites to close out / cover a short position) ? How can this be implemented in FIX …
-Jon
Hi John,
I think you have to use Tag 77 (PositionEffect) in an order.
Oliver
> Looking through the specs - I can’t see a way of indicating a Buy to Cover (purchase of securites to close out / cover a short position) ? How can this be implemented in FIX …
>
> -Jon
>
[ original email was from Dmitry Parkhomovsky - dmitry@viewtrade.com ]
This is not the case. This PositionEffect only applies to Options, not for Stocks (and only starting from FIX 4.1 and 2.). I am also looking for a way to specify Buy Cover.
> Hi John,
>
> I think you have to use Tag 77 (PositionEffect) in an order.
>
> Oliver
>
> > Looking through the specs - I can’t see a way of indicating a Buy to Cover (purchase of securites to close out / cover a short position) ? How can this be implemented in FIX …
> >
> > -Jon
> >
>
[ original email was from Ian Hoenisch - ihoenisch@fastesp.com ]
Has anyone solved this problem of how to specify the Buy2Cover?
Thx, Ian
> Looking through the specs - I can’t see a way of indicating a Buy to Cover (purchase of securites to close out / cover a short position) ? How can this be implemented in FIX …
>
> -Jon
>
[ original email was from Roman Dultsin - RDultsin@riptidetrading.com ]
I see two options in FIX to specify Buy to Cover for non-derivatives:
- CashMargin [tag 544]
- BuytoCoverIndicator [tag 6098]
IMHO, the user-defined tag might be a better way to go because it doesn’t seems to be limited to removing obligation in only cash but also in stock, etc.
Has anyone solved this problem of how to specify the Buy2Cover?
Thx, Ian
Looking through the specs - I can’t see a way of indicating a Buy to
Cover (purchase of securites to close out / cover a short position) ?
How can this be implemented in FIX …-Jon