Imported from previous forum
[ original email was from Francesc Prats - fprats@meff.com ]
Let’s assume an electronic exchange. When an order is filled, an Execution Report is sent to the client. In this message, the Exchange generates an ID (unique within a market) to identify the trade. What is the most appropiate tag to fit this FillIDIdentifier?.
[ original email was from Ryan Pierce - rpierce@taltrade.com ]
> Most Client implementations expect the execution reference from the Exchange/Broker to be populated within tag 17 (ExecID).
This is generally the best solution, provided that the uniqueness rules imposed by FIX are addressed, and that trade busts and corrections can reference that ExecID.
If the uniqueness rules cannot be satisfied, or if ExecID cannot be used for other reasons (i.e. you are using an OMS that assigns all ExecIDs), then the FIX 4.3 tag SecondaryExecID (527) can be used. SecondaryExecID is considered an informational field, as opposed to a field like ExecID with absolute uniqueness constraints, so collisions in SecondaryExecID are allowed.
We added SecondaryExecID to FIX 4.3 for this purpose.
> Let’s assume an electronic exchange. When an order is filled, an Execution Report is sent to the client. In this message, the Exchange generates an ID (unique within a market) to identify the trade. What is the most appropiate tag to fit this FillIDIdentifier?.
>