Closing Offset Order

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1

Imported from previous forum

2

Hi,

NYSE proposed tag 9487=OC for closing offset order. Will this become FIX standard or we need a new value for tag 40 (Order Type)?

Is there anyone can give me some advice?

Thanks,

Jue Wang

3

Tag 9487 is a user-defined tag and can be used by NYSE and others. NYSE can submit a proposal for a standard tag if they wish to do so but as I pointed put in the General Q&A (http://www.fixprotocol.org/discuss/read/64b4a9ba), there is already a standard way of doing this in my view so that I am not sure that a new order type makes sense. The semantic behind the terminology is key here. Every marketplace has its own terminology here and there and FIX should not seek to be the superset of all terms that are out there but strive for standardization of terms.

Regards,
Hanno.

Hi,

NYSE proposed tag 9487=OC for closing offset order. Will this become FIX
standard or we need a new value for tag 40 (Order Type)?

Is there anyone can give me some advice?

Thanks,

Jue Wang