Imported from previous forum
About the party Component Block,
How to identify the broker’s branch ID(Entering firm?)?,there so many Broker’s branches build in different city and receive the order from investor directly,All these branches have same Executing Firm.
About the party Component Block, How to identify the broker’s branch
ID(Entering firm?)?,there so many Broker’s branches build in different
city and receive the order from investor directly,All these branches
have same Executing Firm.
try using one of
OnBehalfOfCompID - Assigned value used to identify firm originating message if the message was delivered by a third party i.e. the third party firm identifier would be delivered in the SenderCompID field and the firm originating the message in this field.
or
OnBehalfOfLocationID - Assigned value used to identify specific message originator’s location (i.e. geographic location and/or desk, trader) if the message was delivered by a third party
About the party Component Block, How to identify the broker’s branch
ID(Entering firm?)?,there so many Broker’s branches build in different
city and receive the order from investor directly,All these branches
have same Executing Firm.try using one of
OnBehalfOfCompID - Assigned value used to identify firm originating
message if the message was delivered by a third party i.e. the third
party firm identifier would be delivered in the SenderCompID field and
the firm originating the message in this field. or OnBehalfOfLocationID
- Assigned value used to identify specific message originator’s location
(i.e. geographic location and/or desk, trader) if the message was
delivered by a third party
actually, please ignore what i said. its incorrect
Are you asking which FIX field / field value to use or is it about the uniqueness of the ID itself? PartyRole (452) and PartySubID (803) should give you enough options to store information about the branch office. This assumes that you need to maintain this information all the way to the exchange for a business reason as opposed to support for routing of orders over multiple hops.
Both fields are part of a repeating group so that you can have multiple values to denote various parties relevant to the order. PartyRole, for example, has a value 60=“Introducing Broker”, PartySubID has values such as 16=BIC or 31=Location or various account names (e.g. 19,22,23) to capture IDs of branches, brokers or even individual investors.
You mentioned “Entering Firm” which I would see more as an entity that has direct access to the exchange and is allowed to enter orders for another entity with direct access without taking business risk. An example is Market Supervision entering or changing orders for a member firm that has connection problems. It is more typical within a firm where a head trader is allowed to do things for his traders but in their name (“Entering Trader”).
Hope this helps to illustrate your options a bit. There are plenty so it is primarily a design issue depending on your specific (regulatory) situation.
Regards,
Hanno.
About the party Component Block, How to identify the broker’s branch
ID(Entering firm?)?,there so many Broker’s branches build in different
city and receive the order from investor directly,All these branches
have same Executing Firm.
Are you asking which FIX field / field value to use or is it about the
uniqueness of the ID itself? PartyRole (452) and PartySubID (803) should
give you enough options to store information about the branch office.
This assumes that you need to maintain this information all the way to
the exchange for a business reason as opposed to support for routing of
orders over multiple hops.Both fields are part of a repeating group so that you can have multiple
values to denote various parties relevant to the order. PartyRole, for
example, has a value 60=“Introducing Broker”, PartySubID has values such
as 16=BIC or 31=Location or various account names (e.g. 19,22,23) to
capture IDs of branches, brokers or even individual investors.You mentioned “Entering Firm” which I would see more as an entity that
has direct access to the exchange and is allowed to enter orders for
another entity with direct access without taking business risk. An
example is Market Supervision entering or changing orders for a member
firm that has connection problems. It is more typical within a firm
where a head trader is allowed to do things for his traders but in their
name (“Entering Trader”).Hope this helps to illustrate your options a bit. There are plenty so it
is primarily a design issue depending on your specific (regulatory)
situation.Regards, Hanno.
About the party Component Block, How to identify the broker’s branch
ID(Entering firm?)?,there so many Broker’s branches build in different
city and receive the order from investor directly,All these branches
have same Executing Firm.
Thinks.