Imported from previous forum
I’d like to be able to offer clients a standard ON REPO. The problem I’m running into is the lack of a FinancingDetails block in the Instrument definition.
FinancingDetails is associated only with IOIs and NewOrder… messages. Is there any way in the existing specification to standardize a financing arrangement as an Instrument?
The FinancingDetails component block is a separate component block from the Instrument component block. The FinancingDetails component block is in many messages including IOI, Order messages, Quote messages, TradeCapture messages.
Which messages are you looking to use? By “standardize a financing arrangement” are you looking to defined a “standardized” repo to be traded?
I’d like to be able to offer clients a standard ON REPO. The problem I’m
running into is the lack of a FinancingDetails block in the Instrument
definition.FinancingDetails is associated only with IOIs and NewOrder… messages.
Is there any way in the existing specification to standardize a
financing arrangement as an Instrument?
Exactly, I want to be able to accept orders and provide market data quote updates on a standard overnight gcf repo.
The FinancingDetails component block is a separate component block from
the Instrument component block. The FinancingDetails component block is
in many messages including IOI, Order messages, Quote messages,
TradeCapture messages.Which messages are you looking to use? By “standardize a financing
arrangement” are you looking to defined a “standardized” repo to
be traded?I’d like to be able to offer clients a standard ON REPO. The problem
I’m running into is the lack of a FinancingDetails block in the
Instrument definition.FinancingDetails is associated only with IOIs and NewOrder…
messages. Is there any way in the existing specification to
standardize a financing arrangement as an Instrument?
So, does anyone know why FinancingDetails shouldn’t be part of the Instrument? We have all the fields that allow one to specify an Instrument as a REPO, Product (460), SecurityType (167), SecuritySubType (762), but there is no way to indicate the TerminationType (788) or the Start and End Dates (916, 917) or the other fields of .
Exactly, I want to be able to accept orders and provide market data
quote updates on a standard overnight gcf repo.The FinancingDetails component block is a separate component block
from the Instrument component block. The FinancingDetails component
block is in many messages including IOI, Order messages, Quote
messages, TradeCapture messages.Which messages are you looking to use? By “standardize a financing
arrangement” are you looking to defined a “standardized” repo to
be traded?I’d like to be able to offer clients a standard ON REPO. The problem
I’m running into is the lack of a FinancingDetails block in the
Instrument definition.FinancingDetails is associated only with IOIs and NewOrder…
messages. Is there any way in the existing specification to
standardize a financing arrangement as an Instrument?
When this was designed we do not feel any of the fields in the FinancialDetails component should be part of the core Instrument block. That said, FinancingDetails component exists in a lot of different messages already where Instrument component also exists. Nothing prevents you from using the fields in FinancingDetails in conjunction with the Instrument block to define your “standardized” repo.
Like I said in my earlier reply, if you find you need the FinancingDetails block in a message where it doesn’t exist let us know and we will consider adding it.
So, does anyone know why FinancingDetails shouldn’t be part of the
Instrument? We have all the fields that allow one to specify an
Instrument as a REPO, Product (460), SecurityType (167), SecuritySubType
(762), but there is no way to indicate the TerminationType (788) or the
Start and End Dates (916, 917) or the other fields of
.Exactly, I want to be able to accept orders and provide market data
quote updates on a standard overnight gcf repo.The FinancingDetails component block is a separate component block
from the Instrument component block. The FinancingDetails component
block is in many messages including IOI, Order messages, Quote
messages, TradeCapture messages.Which messages are you looking to use? By “standardize a financing
arrangement” are you looking to defined a “standardized” repo to be
traded?I’d like to be able to offer clients a standard ON REPO. The
problem I’m running into is the lack of a FinancingDetails block
in the Instrument definition.FinancingDetails is associated only with IOIs and NewOrder…
messages. Is there any way in the existing specification to
standardize a financing arrangement as an Instrument?
I guess you are referring to Quote and IOI. But those are conceptually very different from SecurityDefinitionRequest and MarketDataRequest. If and when REPO markets go to an exchange model aren’t you going to have to be able to quote GC REPOs of different tenors? How can you do that if you can’t specify the FinancingDetails in the Instrument?
When this was designed we do not feel any of the fields in the
FinancialDetails component should be part of the core Instrument block.
That said, FinancingDetails component exists in a lot of different
messages already where Instrument component also exists. Nothing
prevents you from using the fields in FinancingDetails in conjunction
with the Instrument block to define your “standardized” repo.Like I said in my earlier reply, if you find you need the
FinancingDetails block in a message where it doesn’t exist let us know
and we will consider adding it.So, does anyone know why FinancingDetails shouldn’t be part of the
Instrument? We have all the fields that allow one to specify an
Instrument as a REPO, Product (460), SecurityType (167),
SecuritySubType
(762), but there is no way to indicate the TerminationType (788) or
the Start and End Dates (916, 917) or the other fields of
.Exactly, I want to be able to accept orders and provide market data
quote updates on a standard overnight gcf repo.The FinancingDetails component block is a separate component block
from the Instrument component block. The FinancingDetails
component block is in many messages including IOI, Order messages,
Quote messages, TradeCapture messages.Which messages are you looking to use? By “standardize a financing
arrangement” are you looking to defined a “standardized” repo to
be traded?I’d like to be able to offer clients a standard ON REPO. The
problem I’m running into is the lack of a FinancingDetails block
in the Instrument definition.FinancingDetails is associated only with IOIs and NewOrder…
messages. Is there any way in the existing specification to
standardize a financing arrangement as an Instrument?
Now you’re talking. If you can give us a list of the FIX message where you feel FinancingDetails should be added because it is not there, we would consider it. The process would be for you to submit a proposal for this to be added to the messages and why (e.g. illustrate the business requirements or the business you’re trying to support) to the Global Fixed Income Committee since Repos fall under their purview.
At the time FinancingDetails was created it was part of an initiative that focused only on trading, thus the reason this component is not in the market data and security definition messages. There was no requirement for it back in 2003 when this component block was added to the specification.
I guess you are referring to Quote and IOI. But those are conceptually
very different from SecurityDefinitionRequest and MarketDataRequest. If
and when REPO markets go to an exchange model aren’t you going to have
to be able to quote GC REPOs of different tenors? How can you do that if
you can’t specify the FinancingDetails in the Instrument?When this was designed we do not feel any of the fields in the
FinancialDetails component should be part of the core Instrument
block. That said, FinancingDetails component exists in a lot of
different messages already where Instrument component also exists.
Nothing prevents you from using the fields in FinancingDetails in
conjunction with the Instrument block to define your
“standardized” repo.Like I said in my earlier reply, if you find you need the
FinancingDetails block in a message where it doesn’t exist let us know
and we will consider adding it.So, does anyone know why FinancingDetails shouldn’t be part of the
Instrument? We have all the fields that allow one to specify an
Instrument as a REPO, Product (460), SecurityType (167),
SecuritySubType
(762), but there is no way to indicate the TerminationType (788) or
the Start and End Dates (916, 917) or the other fields of
.Exactly, I want to be able to accept orders and provide market
data quote updates on a standard overnight gcf repo.The FinancingDetails component block is a separate component
block from the Instrument component block. The FinancingDetails
component block is in many messages including IOI, Order
messages, Quote messages, TradeCapture messages.Which messages are you looking to use? By “standardize a
financing arrangement” are you looking to defined a
“standardized” repo to be traded?I’d like to be able to offer clients a standard ON REPO. The
problem I’m running into is the lack of a FinancingDetails
block in the Instrument definition.FinancingDetails is associated only with IOIs and NewOrder…
messages. Is there any way in the existing specification to
standardize a financing arrangement as an Instrument?
Thanks Lisa. Is there a link you can send me that would help me understand the expected format of such a proposal and the mechanics of getting it in front of the GFIC?
Now you’re talking. If you can give us a list of the FIX message where
you feel FinancingDetails should be added because it is not there, we
would consider it. The process would be for you to submit a proposal for
this to be added to the messages and why (e.g. illustrate the business
requirements or the business you’re trying to support) to the Global
Fixed Income Committee since Repos fall under their purview.At the time FinancingDetails was created it was part of an initiative
that focused only on trading, thus the reason this component is not in
the market data and security definition messages. There was no
requirement for it back in 2003 when this component block was added to
the specification.I guess you are referring to Quote and IOI. But those are conceptually
very different from SecurityDefinitionRequest and MarketDataRequest.
If and when REPO markets go to an exchange model aren’t you going to
have to be able to quote GC REPOs of different tenors? How can you do
that if you can’t specify the FinancingDetails in the Instrument?When this was designed we do not feel any of the fields in the
FinancialDetails component should be part of the core Instrument
block. That said, FinancingDetails component exists in a lot of
different messages already where Instrument component also exists.
Nothing prevents you from using the fields in FinancingDetails in
conjunction with the Instrument block to define your
“standardized” repo.Like I said in my earlier reply, if you find you need the
FinancingDetails block in a message where it doesn’t exist let us
know and we will consider adding it.So, does anyone know why FinancingDetails shouldn’t be part of the
Instrument? We have all the fields that allow one to specify an
Instrument as a REPO, Product (460), SecurityType (167),
SecuritySubType
(762), but there is no way to indicate the TerminationType (788)
or the Start and End Dates (916, 917) or the other fields of
.Exactly, I want to be able to accept orders and provide market
data quote updates on a standard overnight gcf repo.The FinancingDetails component block is a separate component
block from the Instrument component block. The
FinancingDetails component block is in many messages including
IOI, Order messages, Quote messages, TradeCapture messages.Which messages are you looking to use? By “standardize a
financing arrangement” are you looking to defined a
“standardized” repo to be traded?I’d like to be able to offer clients a standard ON REPO. The
problem I’m running into is the lack of a FinancingDetails
block in the Instrument definition.FinancingDetails is associated only with IOIs and
NewOrder… messages. Is there any way in the existing
specification to standardize a financing arrangement as an
Instrument?
Robert, here’s the link with the proposal template:
http://www.fixprotocol.org/documents/2341/FIX%20Protocol%20Gap%20Analysis%20Proposal%20Template.zip
Please get in touch with me offline regarding the process.
Thanks Lisa. Is there a link you can send me that would help me
understand the expected format of such a proposal and the mechanics of
getting it in front of the GFIC?Now you’re talking. If you can give us a list of the FIX message where
you feel FinancingDetails should be added because it is not there, we
would consider it. The process would be for you to submit a proposal
for this to be added to the messages and why (e.g. illustrate the
business requirements or the business you’re trying to support) to the
Global Fixed Income Committee since Repos fall under their purview.At the time FinancingDetails was created it was part of an initiative
that focused only on trading, thus the reason this component is not in
the market data and security definition messages. There was no
requirement for it back in 2003 when this component block was added to
the specification.I guess you are referring to Quote and IOI. But those are
conceptually very different from SecurityDefinitionRequest and
MarketDataRequest. If and when REPO markets go to an exchange model
aren’t you going to have to be able to quote GC REPOs of different
tenors? How can you do that if you can’t specify the
FinancingDetails in the Instrument?When this was designed we do not feel any of the fields in the
FinancialDetails component should be part of the core Instrument
block. That said, FinancingDetails component exists in a lot of
different messages already where Instrument component also exists.
Nothing prevents you from using the fields in FinancingDetails in
conjunction with the Instrument block to define your
“standardized” repo.Like I said in my earlier reply, if you find you need the
FinancingDetails block in a message where it doesn’t exist let us
know and we will consider adding it.So, does anyone know why FinancingDetails shouldn’t be part of
the Instrument? We have all the fields that allow one to specify
an Instrument as a REPO, Product (460), SecurityType (167),
SecuritySubType
(762), but there is no way to indicate the TerminationType (788)
or the Start and End Dates (916, 917) or the other fields
of .Exactly, I want to be able to accept orders and provide market
data quote updates on a standard overnight gcf repo.The FinancingDetails component block is a separate component
block from the Instrument component block. The
FinancingDetails component block is in many messages
including IOI, Order messages, Quote messages, TradeCapture
messages.Which messages are you looking to use? By “standardize a
financing arrangement” are you looking to defined a
“standardized” repo to be traded?I’d like to be able to offer clients a standard ON REPO.
The problem I’m running into is the lack of a
FinancingDetails block in the Instrument definition.FinancingDetails is associated only with IOIs and
NewOrder… messages. Is there any way in the existing
specification to standardize a financing arrangement as an
Instrument?