fixin and fixout

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Imported from previous forum

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hi, Can anyone please define this term ‘fixout’ for me, in comparison to ‘fixin’. Is it in terms of connection initiation or is it in terms of the direction the direction orders (i.e. incoming or outgoing)?

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[ original email was from Ambar Arasan - ambar.arasan@gs.com ]
Hi Sinead,
I am not sure where you are seeing these terms, but in general fix in and out are sequence numbers of the client/server. Out refers to the sequence number that will be sent by the process to the next connecting process. In sequence number will be the receiving sequence number by the process.
For instance,
If A & B are the client and broker respectively.
A tries to connect with B then,
A will have a in seq no and a out seq no. Likewise B will also have an in and out seq numbers.
A’s in sequence number should be in sync with B’s out sequence number and vice versa.

If A’s in seq no is 1, B’s out seq no. should be 1+1=2 or greater.
similarly If B’s in seq no is 1, then A’s out seq no. should be 1+1=2 or greater.

Please let me know if there are any queries.

hi, Can anyone please define this term ‘fixout’ for me, in comparison to
‘fixin’. Is it in terms of connection initiation or is it in terms of
the direction the direction orders (i.e. incoming or outgoing)?

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[ original email was from Richard Ney - rney@innerex.com ]
> hi, Can anyone please define this term ‘fixout’ for me, in comparison to

‘fixin’. Is it in terms of connection initiation or is it in terms of
the direction the direction orders (i.e. incoming or outgoing)?

Hi,

I heard this few times to make reference to your capabilities of being able to send orders to a market - and to receive execution messages that goes with it - which would be fixout, compare to your capabilities of being able to accept order messages in and send execution messages out, which would be fixin.
I heard this mainly when talking about order routing hubs, that would accept FIX on both side or sometimes only handling FIX on the sell side and having an API for inputing orders on the buy side.

Regards,

Richard