My team is planning to receive mutual fund orders in FIX message format from external RIA asset management platforms. We are clearing broker dealer and we send these orders to fund houses for execution. We get back execution report in non-FIX format. Can we convert this report into FIX Message type = 8 and send back to the RIA platforms? If yes, how?
You’ll need to write your own converter to map from that non-FIX format to FIX. If you can “dictate” the minimum requirement of that non-FIX format to contain the key required fields needed in that FIX ER msg it’ll make your life a little easier with the mapping.