Identifying a downstream source of a trade

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Imported from previous forum

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[ original email was from Jim Northey - jnorthey@jandj.com ]
We would like to identify the downstream source of a trade capture report. There are four fields that can be used within the trade capture report (per the FIA extensions 1.1) to do this:

578		TradeInputSource		N		
579		TradeInputDevice		N		
821		OrderInputDevice		N		
TBD		MessageEventSource		N

What is meant by downstream source is the system from which the trade report is generated - such as in-house clearing system as opposed to an upstream source like the trading system in which the trade occurred.

Clearing House -> Clearing System at FCM / Broker Dealer -> Customer

The focus of this communication is the FCM / Broker Dealer to Customer interface.

Is it best to use MessageEventSource since the definition is as follows?

“Message Event Source used to identify the event or source which gave rise to a message”

It seems to me that if we were to use TradeInputSource or TradeInputDevice we could collide with content provided as part of the trade capture report coming from the upstream source.

Any suggestions or recommendations are appreciated.

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[ original email was from Matt Simpson - msimpson@cme.com ]
In our domain, we’ve used the tags in specific roles so as to avoid the collision you speak of.

The TradeInput tags identify the original business system used to enter the trade and are carried around for the life of the trade. Some examples of Input Sources are Hand-held, Order Routing, Back-Office, Clearing, etc.

The MessageEventSource tag identifies the immediate source of a request which is taking action on a trade. The tag allows the request and corresponding Ack to convey this information. It is used primarily by the Back Office to book or ignore a message. If the request originated from the Back Office, do not apply updates on. If the request originated online, then the Back Office should book it.

TradeInputSource continues to carry it’s original value throughout this process, as MessageEventSource may change on a per transaction basis.

We would like to identify the downstream source of a trade capture report. There are four fields that can be used within the trade capture report (per the FIA extensions 1.1) to do this:

    578 TradeInputSource N 579 TradeInputDevice N 821
    OrderInputDevice N TBD MessageEventSource N

What is meant by downstream source is the system from which the trade
report is generated - such as in-house clearing system as opposed to an
upstream source like the trading system in which the trade occurred.

Clearing House → Clearing System at FCM / Broker Dealer → Customer

The focus of this communication is the FCM / Broker Dealer to Customer
interface.

Is it best to use MessageEventSource since the definition is as follows?

“Message Event Source used to identify the event or source which gave
rise to a message”

It seems to me that if we were to use TradeInputSource or
TradeInputDevice we could collide with content provided as part of the
trade capture report coming from the upstream source.

Any suggestions or recommendations are appreciated.