FIX4.4 over FIX4.2

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Imported from previous forum

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What are the advantages of FIX4.4 allocation messgaes over FIX4.2?

I have a client who is most insistant on the use of FIX4.2 and I would definitely prefer to use FIX4.4.

Could someone please supply pros & cons in order that I can put up a good arguement?

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[ original email was from ken yeadon - ken.yeadon@yeadonfinance.com ]
> What are the advantages of FIX4.4 allocation messgaes over FIX4.2?

I have a client who is most insistant on the use of FIX4.2 and I would
definitely prefer to use FIX4.4.

Could someone please supply pros & cons in order that I can put up a
good arguement?

My understanding is that using FIX 5.0 would allow you to do both, since it supports version independence and reversec compatibility. Maybe a 5.0 expert can confirm…

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What are the advantages of FIX4.4 allocation messgaes over FIX4.2?

I have a client who is most insistant on the use of FIX4.2 and I would
definitely prefer to use FIX4.4.

Could someone please supply pros & cons in order that I can put up a
good arguement?

My understanding is that using FIX 5.0 would allow you to do both, since
it supports version independence and reversec compatibility. Maybe a 5.0
expert can confirm…

For using FIX.5.0, both parties would have to move FIX Session to FIXT.1.1 (or higher). Then “Application” messages in different versions can be exchanged with all Session messages being FIXT.1.1. Refer FIX-5.0_Vol-1.pdf page 12 of 116 in topic “Flexibility Provided by FIX 5.0”

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[ original email was from Joseph Horowitz - jhorowitz@aegisoft.com ]
> What are the advantages of FIX4.4 allocation messgaes over FIX4.2?

I have a client who is most insistant on the use of FIX4.2 and I would
definitely prefer to use FIX4.4.

Could someone please supply pros & cons in order that I can put up a
good arguement?

One advantage is that FIX 4.4 has support for Multi-leg allocations within a single message.
To do the equivalent in FIX 4.2, you will likely need custom tags.
-Joey

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Michael,

As I understand:-

  1. Client has a FIX engine which expects BeginString of 8=FIX.4.2^ in inbound and outbound messages.

  2. Your FIX engine has BeginString as 8=FIX.4.4^ for inbound and outbound messages.

As per FIX before FIXT.1.1 / FIX.5.0, these two cannot coexist in a single session.

I am trying to seperate your question into

  1. What are the advantages of FIX.4.4 allocation messgaes over FIX.4.2?

  2. I have a client who is most insistant on the use of FIX.4.2 and I would definitely prefer to use FIX.4.4.

My question to you is:-

Are you having a FIX.4.2 session with your client in which you would like to use FIX.4.4 Allocation messages only?

or

You would like to use FIX.4.4 for everything but your Clients wants to use FIX.4.2 for everything.

What Asset classes do these Allocation messages handle?

Regards,
K. Mahesh

What are the advantages of FIX4.4 allocation messgaes over FIX4.2?

I have a client who is most insistant on the use of FIX4.2 and I would
definitely prefer to use FIX4.4.

Could someone please supply pros & cons in order that I can put up a
good arguement?

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[ original email was from Xinyu Xiang - xxiang@bloomberg.net ]
I think the biggest advantage of 4.4 over 4.2 is the support of fragamentaion of allocation messages. If your system or your counterparty has a restriction on the length of a FIX message, your allocation message can be too long to fit. Check out 4.4 FIX spec for details.

What are the advantages of FIX4.4 allocation messgaes over FIX4.2?

I have a client who is most insistant on the use of FIX4.2 and I would
definitely prefer to use FIX4.4.

Could someone please supply pros & cons in order that I can put up a
good arguement?