annalie pipo
13 July 2017 4:53am
Hi, I’m looking for some guidance in populating Tag 8015 for the following case:
Off venue; SI selling to SI where one of brokers in between is non-SI.
Client (SI) -> Broker 1 (OTC) -> Broker 2 (SI)
If we are Broker 1, should I send ‘From SI’ when sending the Broker 2?
Tag 8015 is a user-defined field created by FIX to support a regulatory requirement for FIX 4.x users that are unable to support tags from higher versions or repeating groups. Here is the standard FIX approach by means of the repeating group .
NoOrderAttibutes(2593) = 1
OrderAttributeType(2594) = 5 (SI order)
OrderAttributeValue(2595) = “Y”
If you do not forward the order as-is then it is no longer from an SI, it is from you. The SI is then your client. Otherwise you are probably in a DEA role and not in a broker role and the SI is your DEA-client. The SI should use these fields when sending to you.
Please also see Mapping Tables: MiFID Fields to FIX Fields – FIX Trading Community v2.1