ExDestination (100) and SecurityExchange (207)

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1

Imported from previous forum

2

Hello all,

Can anyone tell me the difference between ExDestination (tag 100) and SecurityExchange (tag 207)?

Thanks,

David.

3

ExDestination is used on the order to express which market you wish to have your order routed to/traded in.

SecurityExchange is part of the symbology block and can be used to help identify the security.

> Hello all,
>
> Can anyone tell me the difference between ExDestination (tag 100) and SecurityExchange (tag 207)?
>
> Thanks,
>
> David.
>
>

4

Thanks Scott, but I still don’t understand the difference. Isn’t identifying the security by the exchange the same as expressing which market you wish to have the order routed to?

> ExDestination is used on the order to express which market you wish to have your order routed to/traded in.
>
> SecurityExchange is part of the symbology block and can be used to help identify the security.
>
>
> > Hello all,
> >
> > Can anyone tell me the difference between ExDestination (tag 100) and SecurityExchange (tag 207)?
> >
> > Thanks,
> >
> > David.

5

Not necessarily. You might think of SecurityExchange as the "primary exchange" where a security trades (i.e. "NYSE" for IBM) and ExDestination as to the particular exchange/market/routing destination (i.e. IBM can trade NYSE, Midwest, Pacific, Cincinnati, etc.).

> Thanks Scott, but I still don’t understand the difference. Isn’t identifying the security by the exchange the same as expressing which market you wish to have the order routed to?
>
> > ExDestination is used on the order to express which market you wish to have your order routed to/traded in.
> >
> > SecurityExchange is part of the symbology block and can be used to help identify the security.
> >
> >
> > > Hello all,
> > >
> > > Can anyone tell me the difference between ExDestination (tag 100) and SecurityExchange (tag 207)?
> > >
> > > Thanks,
> > >
> > > David.
>