FIX protocol standard

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Imported from previous forum

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I have a FIX partner who has defined 2 new data types (ESTTimeStamp & ESTTimeOnly) to replace UTCTimeStamp & UTCTimeOnly (for certain fileds)and have changed the data types for these existing fields to use the new types.
e.g. 60 TransactTime is now considered to be of type ESTTimeStamp

Is this valid FIX behavior? i.e. should one be able to add/change types like this? or should another field be defined with the new type?

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Your FIX counterparty should not be changing the data type of the existing defined fields. If they wish to communicate and track their transactions based on EST in the FIX message itself then they should use user-defined fields, along with their user-defined data type, in the message instead.

Your counterparty needs to be aware that what they have implemented can and probably will cause confusion with other counterparties they connect to as those FIX engines will be interpreting those fields as UTC time.

> I have a FIX partner who has defined 2 new data types (ESTTimeStamp & ESTTimeOnly) to replace UTCTimeStamp & UTCTimeOnly (for certain fileds)and have changed the data types for these existing fields to use the new types.
> e.g. 60 TransactTime is now considered to be of type ESTTimeStamp
>
> Is this valid FIX behavior? i.e. should one be able to add/change types like this? or should another field be defined with the new type?
>

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Is the definition of new data types FIX compliant?

> Your FIX counterparty should not be changing the data type of the existing defined fields. If they wish to communicate and track their transactions based on EST in the FIX message itself then they should use user-defined fields, along with their user-defined data type, in the message instead.

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Defining your own new data types is “custom”/“user-defined”. Successful use of it would require bilateral agreement and support from all of one’s counterparties. That would not be consistent with my definition of “compliant”…

> Is the definition of new data types FIX compliant?
>
> > Your FIX counterparty should not be changing the data type of the existing defined fields. If they wish to communicate and track their transactions based on EST in the FIX message itself then they should use user-defined fields, along with their user-defined data type, in the message instead.
>
>