FIXML and SOAP - Best practice?

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Imported from previous forum

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[ original email was from Callum Licence - callum.licence@accenture.com ]
Is there any best practice for implementing FIXML over SOAP?

For example, we are currently trying to decide what message approach to take, either:

SOAP_Process_Message(FIXML Message)

or

SOAP_Process_Order(FIXML Order)
SOAP_Process_Quote(FIXML Quote)
etc.

Thanks.

3

[ original email was from Tayloe Draughon - tayloed@capital-mkts.com ]
> Is there any best practice for implementing FIXML over SOAP?
>
> For example, we are currently trying to decide what message approach to take, either:
>
> SOAP_Process_Message(FIXML Message)
>
> or
>
> SOAP_Process_Order(FIXML Order)
> SOAP_Process_Quote(FIXML Quote)
> etc.
>
> Thanks.
>
>
>
>

As a general preference, I would typically use the first method "SOAP_Process_Message(FIXML Message)." This would give you the greatest flexibility, and it is the easiest to explain to your developers & integrators. Otherwise, you will need to answer questions like:

"What orders go into SOAP_Process_Order? Can it handle the new multi-leg order from FIX 4.3?"

All these questions go away if you have a SOAP_Process_Message(FIXML Message) and deal with the processing all in one place.

Secondly, as new FIX messages are added to the specifications, you will need to add new SOAP_Process_XXXX() RPC’s.

If you can keep the number of RPC’s down and simple, you will have an easier time with your integrators and FIXML counter parties.

Tayloe Draughon