Mnemonic for BATS Europe vs BATS US

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Imported from previous forum

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BATS (US) has been assigned 54
How about BATS Europe? Also 54?
I’ve been given BS as an alternative

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[ original email was from Eric Crampton - ericcrampton@gmail.com ]
> BATS (US) has been assigned 54 How about BATS Europe? Also 54? I’ve been

given BS as an alternative

The Reuters Exchange Code for BATS Europe is “BS”. I’ve seen “54” used for BATS Exchange, but as RECs aren’t used as much in the US, it’s hard to say. For MICs, BATS Europe is “BATE”, BATS Exchange is “BATS”.

There’s often a lot of confusion between whether RECs or MICs are used in some fields, like ExDestination (100). I’ve seen either used. Also, despite standards, I’ve seen counterparties expect strange values which defy all standards.

It’s best to check/agree with the other side, but if you use 54 and BS, at least you’re defensibly following the spec!

(BTW, BATS Options Exchange will have a MIC of “BATO”, but I don’t know what our Reuters Exchange Code will be.)

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[ original email was from Ryan Pierce (FPL Technical Director) - ryan.pierce@fixprotocol.org ]
> There’s often a lot of confusion between whether RECs or MICs are used

in some fields, like ExDestination (100). I’ve seen either used. Also,
despite standards, I’ve seen counterparties expect strange values which
defy all standards.

This is the second time in two days I’ve seen this question, so it must be common.

The answer is simple. It depends on the version.

FIX 4.2 and below use the Reuters codes + the FPL-assigned numeric codes.

FIX 4.3 and above use ISO 10383 MICs.

It’s that simple. The answer depends entirely on FIX version.

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For 4.2 and below I think Ryan means to say “Reuters codes OR FPL assigned codes”, not “Reuters codes AND (”+“) FPL assigned codes”.

There’s often a lot of confusion between whether RECs or MICs are used
in some fields, like ExDestination (100). I’ve seen either used. Also,
despite standards, I’ve seen counterparties expect strange values
which defy all standards.

This is the second time in two days I’ve seen this question, so it must
be common.

The answer is simple. It depends on the version.

FIX 4.2 and below use the Reuters codes + the FPL-assigned
numeric codes.

FIX 4.3 and above use ISO 10383 MICs.

It’s that simple. The answer depends entirely on FIX version.

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[ original email was from Ryan Pierce (FPL Technical Director) - ryan.pierce@fixprotocol.org ]
> For 4.2 and below I think Ryan means to say "Reuters codes OR FPL

assigned codes", not “Reuters codes AND (”+“) FPL assigned codes”.

Yes. I was thinking in terms of the set of allowed values, e.g. the set of valid exchange codes in FIX 4.2 and below are the set of Reuters codes + the set of FPL assigned numeric codes. Of course only one exchange code, either Reuters or FPL assigned numeric, can appear in any single instance of a field.

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With plenty of newish MTFs and ECNs, for those of us still on FIX4.2 (I assume quite a few), it’s still a struggle to find the official RICs.

The info on http://fixprotocol.org/specifications/exchanges.shtml is not always up to date and certainly not always considered by the buy and sell sides setting up these new exchange venues.

Anything we can do to assist the FPL with this little issue?

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[ original email was from Roseate L. Wagner - roseate_lu@ml.com ]
For BATS Options, shall we use 54 for it also or shall we assign another number to deferentiate it from the BATS Equities?

Thanks,

BATS (US) has been assigned 54 How about BATS Europe? Also 54? I’ve
been given BS as an alternative

The Reuters Exchange Code for BATS Europe is “BS”. I’ve seen “54” used
for BATS Exchange, but as RECs aren’t used as much in the US, it’s hard
to say. For MICs, BATS Europe is “BATE”, BATS Exchange is “BATS”.

There’s often a lot of confusion between whether RECs or MICs are used
in some fields, like ExDestination (100). I’ve seen either used. Also,
despite standards, I’ve seen counterparties expect strange values which
defy all standards.

It’s best to check/agree with the other side, but if you use 54 and BS,
at least you’re defensibly following the spec!

(BTW, BATS Options Exchange will have a MIC of “BATO”, but I don’t know
what our Reuters Exchange Code will be.)