Imported from previous forum
[ original email was from Chris Snell - Chris.snell@patsystems.com ]
Hi All
The CME have informed us of mandatory changes to specific iLink tags in order to improve their auditing process of users. The overall purpose of the RFC is for Patsystems to provide means for our client base to pass the relevant information to the CME. If the mandatory changes are not passed on to our clients they run the risk of orders being rejected and also being fined eventually.
• Trader location identifier – identifies geographical origin of an order.
• Automated Trading System (ATS) indicator - identify if an order is submitted manually or by an automated trading system ATS.
• Trading system and version identifier - identify name of the front-end trading system and the version/release of the software.
The Issue is the following bearing in mind we use FIX 4.2 and FIX 4.4 on 2 of our products…
1 - We need to send tag 142- SenderLocationID and tag 143 – TargetLocationID in the headers of all messages – this is supported by fix 4.2 and 4.4 – easy.
2 – We need to include the following tags in the Logon message ONLY:
Tag 1603-TradingSystemName, Tag 1604-TradingSystemVersion, Tag 1605-TradingSystemVendor.
These do not exist in FIX 4.2 or 4.4 and are defined as something completely different in FIX 5 SP2!
3- They want 1028- ManualOrderIndicator (Y=manual, N=automated) – but this is a FIX 5 SP2 tag!
Any suggestions for points 2 and 3 above?
The tags 1603-1605 from CME are correct. EP96 Parties Reference Data and its tags were withdrawn from SP2 and SP2 Errata is about to be published. Hence the temporary overlap of tag numbers which were then reassigned to other extensions. EP105 is the new extension for parties reference data which reduces its complexity by splitting basic reference data from risk limits and entitlements into separate messages.
FPL recommends to use tags from higher versions for features that are not available in lower versions in case you cannot switch to the higher version in the first place. This becomes more of a problem with more and more functionality being needed by the users whilst at the same time users would like to stay with FIX 4.2 which is now over 10 years old. Probably none of us has vendor software running that is that old and still supported by the vendor. I think it is time to move away from the FIX legacy versions to reduce the cost of retrofitting new stuff into older versions. User-defined tags do not really make things better. It just moves the problem up from the FIX engine into the application which has to validate those tags. Every software works that way, i.e. if there is a need for a new feature, it is not built into the old version but a new version is published which includes this feature. Those that want the feature move to the new version while others do not. Eventually support runs out for the old version which forces people to make the move.
You can still run FIX 4.x messages in a FIX 5 framework. It is like the chicken and egg problem as your counterparts need to be on the FIX 5 framework as well to exchange FIX 4.x messages. The effort is low for a single implementation so it is more about reaching consensus to move on to minimize the period of parallel worlds.
Regards,
Hanno.
Hi All
The CME have informed us of mandatory changes to specific iLink tags in order to improve their auditing process of users. The overall purpose of the RFC is for Patsystems to provide means for our client base to pass the relevant information to the CME. If the mandatory changes are not passed on to our clients they run the risk of orders being rejected and also being fined eventually.
• Trader location identifier – identifies geographical origin of an order.
• Automated Trading System (ATS) indicator - identify if an order is submitted manually or by an automated trading system ATS.
• Trading system and version identifier - identify name of the front-end trading system and the version/release of the software.
The Issue is the following bearing in mind we use FIX 4.2 and FIX 4.4 on 2 of our products…
1 - We need to send tag 142- SenderLocationID and tag 143 – TargetLocationID in the headers of all messages – this is supported by fix 4.2 and 4.4 – easy.
2 – We need to include the following tags in the Logon message ONLY:
Tag 1603-TradingSystemName, Tag 1604-TradingSystemVersion, Tag 1605-TradingSystemVendor.These do not exist in FIX 4.2 or 4.4 and are defined as something completely different in FIX 5 SP2!
3- They want 1028- ManualOrderIndicator (Y=manual, N=automated) – but this is a FIX 5 SP2 tag!
Any suggestions for points 2 and 3 above?