IOIs

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1

Imported from previous forum

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Hi All,

As far as I understand IOIs are issued by broker firms showing their interest in buying and/or selling some instrument. When the trading firms receive these IOIs they might decide to place their open orders to the brokers mentioned in IOI.

I was going through the message structure of IOI at http://www.fixprotocol.org/specification/_Toc513372745 ( FIX 4.2 with Errata 20010501 ) but could not find any field corresponding to the broker in the message.

Is my understanding of IOIs correct? If yes, which field I can refer to in IOI message structure to retrieve the broker?

Thanks in advance,

Ashish Parnami
Tata Consultancy Services
email : ashish_parnami@delhi.tcs.co.in

3

When exchanging messages via a FIX Session, one "knows" the identity of who has sent the message by fields within the Standard Header. For a point-to-point FIX Session SenderCompID would identify the firm who has sent the message. In the case of a single FIX session which represents multiple firms (i.e. a service bureau) then SenderCompID represents the service bureau and OnBehalfOfCompID represents the firm which sent the message. The IOI message would be from a single firm ("broker") not "brokers" plural.

> Hi All,
>
> As far as I understand IOIs are issued by broker firms showing their interest in buying and/or selling some instrument. When the trading firms receive these IOIs they might decide to place their open orders to the brokers mentioned in IOI.
>
> I was going through the message structure of IOI at http://www.fixprotocol.org/specification/_Toc513372745 ( FIX 4.2 with Errata 20010501 ) but could not find any field corresponding to the broker in the message.
>
> Is my understanding of IOIs correct? If yes, which field I can refer to in IOI message structure to retrieve the broker?
>
> Thanks in advance,
> ________________________
> Ashish Parnami
> Tata Consultancy Services
> email : ashish_parnami@delhi.tcs.co.in
>