Clear or represent a price as blank or invalid

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Imported from previous forum

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We have an issue in relation to providing market data via FIX 4.2 . On the CME exchange there is an event where you may reset the market statistics due to the end of a session. This requires resetting of the high and low prices. The problem lies in how these are reset as setting them to zero does not mean they have been reset as a spread contract has zero as a valid high or low. The only way we have found to deal with it is to agree on an “Invalid” number (ie. 999999999), but this is always a worry when people can trigger off prices. Is there any agreed standard on how to represent a blank or invalid price?

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Agree that zero is not a good representation for a NULL value. Suggest to use an update action on an explicit statistics entry, i.e. MarketDataIncrementalRefresh message with MDEntryType = 7 (high) or 8 (low) and MDUpdateAction = 2 (Delete) and omitting MDEntryPx. Your recipients must however have a logic for a NULL value, i.e. to only trigger if an actual high/low is defined.
Regards,
Hanno.

We have an issue in relation to providing market data via FIX 4.2 . On the CME exchange there is an event where you may reset the market statistics due to the end of a session. This requires resetting of the high and low prices. The problem lies in how these are reset as setting them to zero does not mean they have been reset as a spread contract has zero as a valid high or low. The only way we have found to deal with it is to agree on an “Invalid” number (ie. 999999999), but this is always a worry when people can trigger off prices. Is there any agreed standard on how to represent a blank or invalid price?