FIX 4.2/ ExpireTime question

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Imported from previous forum

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[ original email was from Le Floch mikael - mlefloch@caicheuvreux.com ]
Hi all,

In FIX 4.2 we have the choice to send

ExpireTime or ExpireDate.
1/ Does it means the same thing ?
2/ Can a buyside send sometime ExpireTime and sometimes ExpireDate

Thanks,

Mikael Le Floch
CAI Cheuvreux

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Hi,
Both Expire time and Expire date functionally means the same. Except Expire time is expressed in UTCTimestamp and Expire date in LocalMktDate. I.e. Expire time would have both Date and Time stamp (FIX 4.2 Supports precision till Millisecond). But the Expire date can be sent only as a date.
Sending Expire time is advisable as it has more precision in GTD orders. There might be systems which would take the End of the Day for GTD as 20:30:00 Hrs or 23:59:00 Hrs or a different time. For all these, sending the expire time with millisecond would solve the confusion.

Hope this helps.

Thanks,
Vijay.

> Hi all,
>
>
> In FIX 4.2 we have the choice to send
>
> ExpireTime or ExpireDate.
> 1/ Does it means the same thing ?
> 2/ Can a buyside send sometime ExpireTime and sometimes ExpireDate
>
> Thanks,
>
> Mikael Le Floch
> CAI Cheuvreux
>
>
>
>
>
>