LastMkt ISO10383

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Imported from previous forum

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I read on the spec that LastMkt follows the MIC for ISO10383. However it is rare that I see any exchange code in this field that I can correlate. For example I get ‘N’ for NYSE. No where on this standard do I see that association?

Am I missing something or is this just not being used in compliance to the standard?

http://www.iso15022.org/MIC/homepageMIC.htm
http://fixwiki.fixprotocol.org/fixwiki/ExchangeDataType

3

I read on the spec that LastMkt follows the MIC for ISO10383. However it is rare that I see any exchange code in this field that I can correlate. For example I get ‘N’ for NYSE. No where on this standard do I see that association?

Am I missing something or is this just not being used in compliance to the standard?

http://www.iso15022.org/MIC/homepageMIC.htm
http://fixwiki.fixprotocol.org/fixwiki/ExchangeDataType

MICs are still quite rare in real-world practice. Reuters or hand-tooled values are way more common. Aside from the codes published on the FPL specs section, it is often necessary to determine with counterparties what 30 values one might expect as there can be customization, masking (due to agreements between brokers and venues), etc.

4

I read on the spec that LastMkt follows the MIC for ISO10383. However it is rare that I see any exchange code in this field that I can correlate. For example I get ‘N’ for NYSE. No where on this standard do I see that association?

Am I missing something or is this just not being used in compliance to the standard?

http://www.iso15022.org/MIC/homepageMIC.htm
http://fixwiki.fixprotocol.org/fixwiki/ExchangeDataType

MICs are still quite rare in real-world practice. Reuters or hand-tooled values are way more common. Aside from the codes published on the FPL specs section, it is often necessary to determine with counterparties what 30 values one might expect as there can be customization, masking (due to agreements between brokers and venues), etc.

Having recently approached our brokers to ensure population of this field in the messages, I have found that most were able to accommodate the request to use MIC codes when asked. The ones who didn’t were in the process of updating their systems to do so, since this is a topic of interest to the buy side.

5

You would think standardizing this would be a good thing. Thanks for answering my question :slight_smile:

I read on the spec that LastMkt follows the MIC for ISO10383. However it is rare that I see any exchange code in this field that I can correlate. For example I get ‘N’ for NYSE. No where on this standard do I see that association?

Am I missing something or is this just not being used in compliance to the standard?

http://www.iso15022.org/MIC/homepageMIC.htm
http://fixwiki.fixprotocol.org/fixwiki/ExchangeDataType

MICs are still quite rare in real-world practice. Reuters or hand-tooled values are way more common. Aside from the codes published on the FPL specs section, it is often necessary to determine with counterparties what 30 values one might expect as there can be customization, masking (due to agreements between brokers and venues), etc.