can you restrict decimal places in FIX?

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Imported from previous forum

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[ original email was from korosh Willington - korosh@hushmail.com ]

Is it possible to restrict the number of decimal places on prices in FIX 4.1 to 4?

we want to configure it in our FIX engine to reject any prices greater than 4 decimal places and accept only the ones with less than or equal to 4 decimal places?

TIA.

k.

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[ original email was from Himanshu Sharma - himanshu_sharma@rsco.com ]
>
> Is it possible to restrict the number of decimal places on prices in FIX 4.1 to 4?
>
> we want to configure it in our FIX engine to reject any prices greater than 4 decimal places and accept only the ones with less than or equal to 4 decimal places?
>
> TIA.
>
> k.
>

I would prefer that FIX-Engine confoms to FIX protocol. Anyway, you can reject the Order anytime when your FIX-Engine passes it to your application-side. As per FIX, you and your counterparty can decide on the number of decimal places for Price (tag 44) and then in application-side you can accept/reject based on SenderCompID and decimal places. Or you can make a generic FIX-Engine where you can define (restrictive) validation rules yourself for each field and SenderCompID.??
Himanshu Sharma
himanshu_sharma@rsco.com

4

It is done at the application-level according to agreed upon business rules and market practice. The only exception is that the Allocation message has a field called AvgPrxPrecision (74).
>
> Is it possible to restrict the number of decimal places on prices in FIX 4.1 to 4?
>
> we want to configure it in our FIX engine to reject any prices greater than 4 decimal places and accept only the ones with less than or equal to 4 decimal places?
>
> TIA.
>
> k.
>