CARE and DMA Orders

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1

Imported from previous forum

2

Hi,

I want to know what CARE and DMA orders are and how to identify these as such?

Thanks
Idris

3

Hi,

I want to know what CARE and DMA orders are and how to identify these as such?

Thanks
Idris
Hi Idris
Care orders (or high-touch) are sent to an OMS to be worked by the broker, in FIX this is represented by HandlingInstruction (21=3)
DMA orders (or low touch) are sent directly to the exchange/mtf/ecn without any intervention. DMA stands for Direct Market Access provided by the broker. In fix this is represented by 21=1.
dan

4

Hi,

I want to know what CARE and DMA orders are and how to identify these as such?

Thanks
Idris
Hi Idris
Care orders (or high-touch) are sent to an OMS to be worked by the broker, in FIX this is represented by HandlingInstruction (21=3)
DMA orders (or low touch) are sent directly to the exchange/mtf/ecn without any intervention. DMA stands for Direct Market Access provided by the broker. In fix this is represented by 21=1.
dan

Thanks Dan, appreciate your fast response.

5

Hi Dan

I have taken the liberty of capturing your helpful response on the new FIXwiki in the following entries:

http://fixwiki.fixprotocol.org/fixwiki/HandlInst

http://fixwiki.fixprotocol.org/fixwiki/HandlInst/1_AutomatedExecutionNoIntervention

http://fixwiki.fixprotocol.org/fixwiki/HandlInst/3_ManualOrder

Those FPL members not yet familiar with the new FPL FIXwiki, should take a look at it. It would be great having you as a contributor.

John Cameron

Hi,

I want to know what CARE and DMA orders are and how to identify these as such?

Thanks
Idris
Hi Idris
Care orders (or high-touch) are sent to an OMS to be worked by the broker, in FIX this is represented by HandlingInstruction (21=3)
DMA orders (or low touch) are sent directly to the exchange/mtf/ecn without any intervention. DMA stands for Direct Market Access provided by the broker. In fix this is represented by 21=1.
dan