Imported from previous forum
[ original email was from Ian Orford - ian.orford@dresdnerkb.com ]
FIX specifies Reuters exchange codes.
Bloomberg claim that since Reuters own the codes, they dont support them, and it is unfair to ask them to. We have been asked to store and maintain our own mapping from Reuters to Bloomberg codes.
Has anyone else solved this problem? Are there any plans to "allow" sending of Bloomberg exchange codes as an alternative?
Regards,
Ian Orford
Dresdner Kleinwort Wesserstein
[ original email was from Matt Koehler - matt.koehler@transacttools.net ]
hey there
most of the time sell side firms such as yourselves will create a product master in their database. usually it would look something like this (each is a column in a db table):
DKB_CODE ISIN CUSIP RIC_CODE BBRG_CODE SEDOL CEDEL …
(etc.)
that way DKB can have their clients use any identifier they like, guaranteed to be unique, and use the product master table to do the translation to the symbol set you prefer internally, and re-translate to the client’s preferred security identifier on outbound messages.
does that make sense?
> Bloomberg claim that since Reuters own the codes, they dont support them, and it is unfair to ask them to. We have been asked to store and maintain our own mapping from Reuters to Bloomberg codes.
It really only makes sense to have one set of values in the spec for exchanges and Reuters codes have been there since the first FIX spec. The set of values are listed under "Tech Resources", "Exchange Codes" on the FIX website.
Note that Bloomberg has registered the following "user defined" fields (under "Tech Resources", "Custom Fields" on the FIX website):
7777 - LastMktBloomberg
7778 - SecurityExchangeBloomberg
> FIX specifies Reuters exchange codes.
>
> Bloomberg claim that since Reuters own the codes, they dont support them, and it is unfair to ask them to. We have been asked to store and maintain our own mapping from Reuters to Bloomberg codes.
>
> Has anyone else solved this problem? Are there any plans to "allow" sending of Bloomberg exchange codes as an alternative?
>
> Regards,
> Ian Orford
> Dresdner Kleinwort Wesserstein
>
[ original email was from Ian Orford - ian.orford@dresdnerkb.com ]
I guess your first point hilights another problem. I have a document from Reuters that includes many more exchanges that are listed on the FIX site. AD - Adelaide for example. I guess that’s another can of worms.
The problem I have with Bloomberg is that they want me to send their exchange code in fields 100 and 207.
Ian
> It really only makes sense to have one set of values in the spec for exchanges and Reuters codes have been there since the first FIX spec. The set of values are listed under "Tech Resources", "Exchange Codes" on the FIX website.
>
> Note that Bloomberg has registered the following "user defined" fields (under "Tech Resources", "Custom Fields" on the FIX website):
>
> 7777 - LastMktBloomberg
> 7778 - SecurityExchangeBloomberg
>
>
>
> > FIX specifies Reuters exchange codes.
> >
> > Bloomberg claim that since Reuters own the codes, they dont support them, and it is unfair to ask them to. We have been asked to store and maintain our own mapping from Reuters to Bloomberg codes.
> >
> > Has anyone else solved this problem? Are there any plans to "allow" sending of Bloomberg exchange codes as an alternative?
> >
> > Regards,
> > Ian Orford
> > Dresdner Kleinwort Wesserstein
> >
>
We can easily adjust the list on the website to account for missing or phased out exchanges provided we can verify the accuracy of that. Feel free to follow-up w/ Peter and I directly re: such ammendments. In addition, we will assign a sequential numeric code to exchanges, ECNs, etc. which need to be identified but do not have a Reuters code.
I can only help you with the first point/problem. 
> I guess your first point hilights another problem. I have a document from Reuters that includes many more exchanges that are listed on the FIX site. AD - Adelaide for example. I guess that’s another can of worms.
>
> The problem I have with Bloomberg is that they want me to send their exchange code in fields 100 and 207.
>
> Ian
>
>
> > It really only makes sense to have one set of values in the spec for exchanges and Reuters codes have been there since the first FIX spec. The set of values are listed under “Tech Resources”, “Exchange Codes” on the FIX website.
> >
> > Note that Bloomberg has registered the following “user defined” fields (under “Tech Resources”, “Custom Fields” on the FIX website):
> >
> > 7777 - LastMktBloomberg
> > 7778 - SecurityExchangeBloomberg
> >
> >
> >
> > > FIX specifies Reuters exchange codes.
> > >
> > > Bloomberg claim that since Reuters own the codes, they dont support them, and it is unfair to ask them to. We have been asked to store and maintain our own mapping from Reuters to Bloomberg codes.
> > >
> > > Has anyone else solved this problem? Are there any plans to “allow” sending of Bloomberg exchange codes as an alternative?
> > >
> > > Regards,
> > > Ian Orford
> > > Dresdner Kleinwort Wesserstein
> > >
> >
>
[ original email was from Brian Gay - bgay@bloomberg.net ]
As mentioned earlier by Scott, Bloomberg has registered two ‘user defined’ fields on the FIX
website to address this issue:
7777 - LastMktBloomberg
7778 - SecurityExchangeBloomberg
Bloomberg will either accept the Bloomberg Exchange codes in tags 100 & 207, or the Bloomberg Exchange codes in the aforementioned ‘user defined’ fields.
Using Reuter’s codes poses a number of problems for Bloomberg. Primarily, in terms or order flow, the Bloomberg software is currently the only place where an order can be input and routed to a destination on our network. Securities are accessed on Bloomberg using our exchange codes, if there is not a current Reuter’s code listed in the spec to map it to, the transmission will fail. This hurts all parties involved, but seeing that Bloomberg is the platform being used to route the order, its adverse effect on us is compounded. In terms of Indications, the Bloomberg software is where users view IOI’s. The same potential problem exists - if we receive a Reuter’s Exchange Code which we do not know, we cannot properly map it to a Bloomberg code and the IOI transmission will ultimately fail.
I would think this issue is not just a Reuter’s and Bloomberg one, but will continue to cause issues for other vendors and order routing networks. We’ve consulted members of the FIX Committee regarding this and their suggestion was to register ‘user define’ fields. I think this is a good solution for all parties involved. While I understand that the Reuter’s codes have been included since the first version of FIX was released, a vendor neutral protocol needs to be able to handle scenarios like this. ‘User defined’ tags serve this issue well and we’re willing and eager to impliment this with clients.
Brian Gay
Bloomberg Intergration Services
212.318.2635
> I guess your first point hilights another problem. I have a document from Reuters that includes many more exchanges that are listed on the FIX site. AD - Adelaide for example. I guess that’s another can of worms.
>
> The problem I have with Bloomberg is that they want me to send their exchange code in fields 100 and 207.
>
> Ian
>
>
> > It really only makes sense to have one set of values in the spec for exchanges and Reuters codes have been there since the first FIX spec. The set of values are listed under “Tech Resources”, “Exchange Codes” on the FIX website.
> >
> > Note that Bloomberg has registered the following “user defined” fields (under “Tech Resources”, “Custom Fields” on the FIX website):
> >
> > 7777 - LastMktBloomberg
> > 7778 - SecurityExchangeBloomberg
> >
> >
> >
> > > FIX specifies Reuters exchange codes.
> > >
> > > Bloomberg claim that since Reuters own the codes, they dont support them, and it is unfair to ask them to. We have been asked to store and maintain our own mapping from Reuters to Bloomberg codes.
> > >
> > > Has anyone else solved this problem? Are there any plans to “allow” sending of Bloomberg exchange codes as an alternative?
> > >
> > > Regards,
> > > Ian Orford
> > > Dresdner Kleinwort Wesserstein
> > >
> >
>