Imported from previous forum
[ original email was from Vivien Lee - vivien.wm.lee@ing-barings.com ]
Hi there,
i’m using FIX 4.0, and am using tag 1 (account) to store the Account no infomation. If clients also want to send us Sub-account, how can we handle this in FIX 4.0. Since 1 InvestorID can book into multiple sub-account. Beside the Text (#58) field, is there any other field i can use to store the sub-account info?
In FIX 4.3, there’s InvestorID filed to store the InvstID for Korea or QFII ID for Taiwan.
How we handle sub-account infomation in this case? iS Investor ID a free text format?
Thanks,
Vivien
[ original email was from Dean Kauffman - dean.kauffman@tradeweb.com ]
Vivien,
FIX 4.0 supports the Allocation message which is used to breakdown a trade pre- or post-execution. Pre-allocation on the NewOrder came into the spec with FIX 4.2. If you and your counterparties want to allocate on the NewOrder, define and register some custom tags (through the FIXProtocol.org website) similar to the 4.2 repeating group. First check with your FIX engine vendor to ensure they support repeating group extensions.
NoAllocs 5700=
-> AllocAccount 5701=
-> AllocShares 5702=
-> AllocClearingLoc 5703=
-> etc.
Dean Kauffman
> Hi there,
>
> i’m using FIX 4.0, and am using tag 1 (account) to store the Account no infomation. If clients also want to send us Sub-account, how can we handle this in FIX 4.0. Since 1 InvestorID can book into multiple sub-account. Beside the Text (#58) field, is there any other field i can use to store the sub-account info?
>
> In FIX 4.3, there’s InvestorID filed to store the InvstID for Korea or QFII ID for Taiwan.
> How we handle sub-account infomation in this case? iS Investor ID a free text format?
>
> Thanks,
>
> Vivien
>
In Korea an order for a single investor id can represent multiple individual accounts, thus if you wanted to pre-allocate the account details, you would need to identify each account and it’s quantity. In FIX 4.2 and above, you would use the NoAllocs repeating group (AllocAccount, AllocShares, etc) in the order messages. Also regarding your FIX 4.3 question, see FIX 4.3 Volume 4’s “Example Usage of PatyRole=‘InvestorID’” section as the format is not “free text”.
In terms of trying to do this with FIX 4.0, you could specify the exchange investor id in the Account (tag 1) field on the order and then use the FIX Allocation message (or other post-trade allocation delivery mechanism) to provide the account-level breakdowns.
> Hi there,
>
> i’m using FIX 4.0, and am using tag 1 (account) to store the Account no infomation. If clients also want to send us Sub-account, how can we handle this in FIX 4.0. Since 1 InvestorID can book into multiple sub-account. Beside the Text (#58) field, is there any other field i can use to store the sub-account info?
>
> In FIX 4.3, there’s InvestorID filed to store the InvstID for Korea or QFII ID for Taiwan.
> How we handle sub-account infomation in this case? iS Investor ID a free text format?
>
> Thanks,
>
> Vivien
>