Difference between tag 452 values - PartyRole=11 and PartyRole=36

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Imported from previous forum

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Hello all,

I’m trying to determine the difference between two possible values for tag 456, PartyRole:

11 = Order Origination Trader (associated with Order Origination Firm – e.g. trader who initiates/submits the order)
and
36 = Entering Trader

Has anybody had experience using these values?

Thanks.

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[ original email was from Rikard Hedberg - rikard.hedberg@omxgroup.com ]
Try the Glossary in volume 1 of the FIX specification.

I think it is a good idea to use the “Executing” and “Entering” party roles for this. I understand “Originator” to mean someone further away from the exchange, such as an Originator sending an order to a broker (or member firm) who enters it into the marketplace. Most exchanges would ignore such originators.

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Hello Rikard,

Yes, reading the glossary I agree with your understanding. Thanks for the prompt reply.

Try the Glossary in volume 1 of the FIX specification.

I think it is a good idea to use the “Executing” and “Entering” party
roles for this. I understand “Originator” to mean someone further away
from the exchange, such as an Originator sending an order to a broker
(or member firm) who enters it into the marketplace. Most exchanges
would ignore such originators.