Direct Memory Access

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Imported from previous forum

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Greetings.

I would like use our existing FIX connections with our brokers to send orders through them to a particular exchange. (Usually, the primary exchange for the security.) I am having trouble finding the tags and messages designed to accomplish this. Perhaps it was added in later versions of FIX? I am using 4.2.

Here is the trader’s view of what is required:
We need each broker to understand the FIX tag that directs the order to the primary exchange. In other words it is DMA (which goes to the broker and then gets routed to the destination) as opposed to Sponsored Access (which goes directly to an exchange and then informs the broker what happened).

Has someone else done this?

    Regards, 

    Rick
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[ original email was from Xinyu Xiang - xxiang@bloomberg.net ]
Hi, Rick,
DMA is direct market access I believe. Normally you would need to talk to the brokers you have connections with regarding tag(s) and values they expect for DMA. A common choice I’ve seen is tag76 (ExecBroker), e.g. 76=NYSE. But different brokers may have different prefenences.

-Xinyu

Greetings.

I would like use our existing FIX connections with our brokers to send
orders through them to a particular exchange. (Usually, the primary
exchange for the security.) I am having trouble finding the tags and
messages designed to accomplish this. Perhaps it was added in later
versions of FIX? I am using 4.2.

Here is the trader’s view of what is required: We need each broker to
understand the FIX tag that directs the order to the primary exchange.
In other words it is DMA (which goes to the broker and then gets routed
to the destination) as opposed to Sponsored Access (which goes directly
to an exchange and then informs the broker what happened).

Has someone else done this?

    Regards,

    Rick