OATS

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Imported from previous forum

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[ original email was from Gene Scornaienchi - escornaienchi@bear.com ]
Has anyone found existing tags in FIX versions 4.0 or 4.1 to handle the new requirements for OATS reporting for OTC equity orders? Any help is greatly appreciated.

Thank you.

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[ original email was from Ryan Pierce - rpierce@taltrade.com ]
> Has anyone found existing tags in FIX versions 4.0 or 4.1 to handle the new requirements for OATS reporting for OTC equity orders? Any help is greatly appreciated.

ComplianceID was added in FIX 4.2 to be a generic tag for IDs used in complaince systems, i.e. NASDAQ OATS, NYSE FESC, etc.

While it is not "compliant" some firms do adopt tags from later FIX versions when they need a new feature defined in a later version, as an alternative to defining a user-defined tag. The advantage of using the 4.2 field in 4.1 or 4.0 is that it means less hassle in migrating to future FIX versions, and no need to carry around a user-defined field, possibly indefinitely. The disadvantage is that some FIX engines may reject or refuse to allow one to send messages containing field values the engine does not understand which do not fall in the >5000 range.