Imported from previous forum
[ original email was from John Boulton - boultonj@tfseur.co.uk ]
With the increasing internationalisation of FIX could we change the Currency field to default to the security base currency rather than USD ?
[ original email was from Jem Day - Jem.Day@bglobal.com ]
The ‘Defaulting to USD’ feature is (i assume) a
throw back to when FIX was first developed with
US markets in mind. Personally i’d like to see
the Currency field become mandatory, this would
force the ‘sending party’ to be more precise and
allow the ‘receiving party’ to perform additional validation.
> With the increasing internationalisation of FIX could we change the Currency field to default to the security base currency rather than USD ?
>
I would like to see people explicitly providing the Currency field vs. defaulting to anything. I would think this might become even more important with EMU. As it stands now without the requirement for it to be specified, it is probably clearer and safer to have it default to a single value vs. a conditional one.
>
> The ‘Defaulting to USD’ feature is (i assume) a
> throw back to when FIX was first developed with
> US markets in mind. Personally i’d like to see
> the Currency field become mandatory, this would
> force the ‘sending party’ to be more precise and
> allow the ‘receiving party’ to perform additional validation.
>
>
> > With the increasing internationalisation of FIX could we change the Currency field to default to the security base currency rather than USD ?
> >
>