Imported from previous forum
Hello,
Can somebody tell me about FIX 4.2 - Euronext. What it is ?
What is the diference between FIX 4.2 and Euronext even though it is said that Euronext is a derivative of FIX 4.2.
Is the message for Euronext same as FIX 4.2.
Is the way in which message delivery takes place (Transactions) between an Execution Venue and the client same as FIX or a new format.
-
What is the basic format of message for Euronext? Does use the same FIX format if yes how does it comply with Euronext.
-
What are all these HUBs, MMTP, CAP and all other new things. What is the role played by these and how does these come in to picture.
-
Even though we us TCP and sockets to deliver the messages and get a reply back what does this MMTP do.
If you can give me an example Euronext messages the it be very helpful.
Thanks in advance
Regards
H
[ original email was from Danny Shobrook - danny@aptcompsys.com ]
> Hello,
>
> Can somebody tell me about FIX 4.2 - Euronext. What it is ?
For some of our non-european friends, Euronext is the merger of the French, Belgian and Dutch Exchanges.
Euronext are phasing out MMTP - their current communication protocol - by the beginning of next year and replacing it with a flavour of FIX, which if you do not have will that you will not be able to trade directly on Euronext.
> What is the diference between FIX 4.2 and Euronext even though it is said that Euronext is a derivative of FIX 4.2.
>
Euronext have taken FIX.4.2 and "enhanced" it for some of their needs. There are a number of custom message types and custom fields.
> Is the message for Euronext same as FIX 4.2.
>
> Is the way in which message delivery takes place (Transactions) between an Execution Venue and the client same as FIX or a new format.
>
The session layer is identical, some of the business rules are different, and there are a number of custom tags, but fundamentally a decent FIX engine should not take long to be customised for Euronext. The only thing you need to be aware of is that there is no subscribing to a portion of the order book so you will receive market data for all of the exchanges - estimated 5,000,000 market data messages a day - so buy a fast engine!!
> 1. What is the basic format of message for Euronext? Does use the same FIX format if yes how does it comply with Euronext.
>
It is the same tag-delimiter format.
> 2. What are all these HUBs, MMTP, CAP and all other new things. What is the role played by these and how does these come in to picture.
>
MMTP is the current Euronext protocol, CAP are boxes rather like routers installed at your site, they connect to HUBs at Euronext.
> 3. Even though we us TCP and sockets to deliver the messages and get a reply back what does this MMTP do.
>
Euronext is rather sensibly rolling out FIX in two phases. First is a FIX-to-MMTP wrapper which is installed on the CAP at your site, you connect via TCP to that CAP box, the CAP still speaks MMTP to Euronext HUB. Second, is that you will have a direct FIX link to Euronext HUB which again is TCP.
> If you can give me an example Euronext messages the it be very helpful.
All this and more is at the Euronext website - www.euronext.com.
Cheers
Danny