Party role to use for an ISV id

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Imported from previous forum

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We have 2 different kinds of users:
a) Some directly connect to our trading system using a userid (u1)
b) Some users login via a Integrated service vendor(ISV. The ISV connects to our trading system using a common user id (u2) for all their users. Each user has their own user id (IS1) to login to the ISVs system.
We need to report to the CFTC all the ids.
In the parties block we are using Party Role 44 (Order Entry Operator id) (tags 448, 452) to report u1 and u2-the user ids that are used to connect to our trading system.

What Party role or tag could we use to report the other user id (IS1)that is supplied to us by the ISV?

3

Normally, your ISV (we call them Independent Software Vendors) would be routing orders to you on behalf of their clients. This represents pure technical information as they typically do not carry any responsibility for the order being entered. This would be covered by fields in the standard header, i.e. your ISV would not be conveyed in teh Parties block, only the users would.

However, if you need to report the ISV ID to the CFTC, you are probably right in using party roles for that as it becomes a non-technical party. FIX offers a distinction between entering and executing traders/units/firms. Your ISV is the entering party but is not respopnsible for any executions, i.e. your users are the executing parties. If you want to define parties at the firm level you can use 7=Entering Firm for that and then 1=Executing Firm for the users. If you have more than one user from a single firm, you might want to add 12=Executing Trader as a third party role.

We have 2 different kinds of users:
a) Some directly connect to our trading system using a userid (u1) b)
Some users login via a Integrated service vendor(ISV. The ISV
connects to our trading system using a common user id (u2) for all
their users. Each user has their own user id (IS1) to login to the
ISVs system. We need to report to the CFTC all the ids. In the
parties block we are using Party Role 44 (Order Entry Operator id)
(tags 448, 452) to report u1 and u2-the user ids that are used to
connect to our trading system.

What Party role or tag could we use to report the other user id
(IS1)that is supplied to us by the ISV?

4

Thanks for you’re response Hanno.
However, party role 12 - Executing Trader for a third party role is something we use for other purposes…If I am a broker and say I am on vacation. If you Execute a trade on my behalf we would report you’re id under party role 12. Party roles 1 and 7 are more for firms than individual logon ids.

What I am looking for is a party role like 44.

Assume each Trader and Executing trader has several clerks working for them. Each clerk has been assigned their unique logon id at the ISV.
This is the id we need to report to the CFTC.
Is there a party role to report that id?
Party role 44 is used as I mentioned earlier in the thread to report the logon id that the ISV uses to login to our trading engine.

Could party role 55 session id be used? Or is that referring to a session.

Thanks.

Normally, your ISV (we call them Independent Software Vendors) would be
routing orders to you on behalf of their clients. This represents pure
technical information as they typically do not carry any responsibility
for the order being entered. This would be covered by fields in the
standard header, i.e. your ISV would not be conveyed in teh Parties
block, only the users would.

However, if you need to report the ISV ID to the CFTC, you are probably
right in using party roles for that as it becomes a non-technical party.
FIX offers a distinction between entering and executing
traders/units/firms. Your ISV is the entering party but is not
respopnsible for any executions, i.e. your users are the executing
parties. If you want to define parties at the firm level you can use
7=Entering Firm for that and then 1=Executing Firm for the users. If you
have more than one user from a single firm, you might want to add
12=Executing Trader as a third party role.

We have 2 different kinds of users:
a) Some directly connect to our trading system using a userid (u1) b)
Some users login via a Integrated service vendor(ISV. The ISV
connects to our trading system using a common user id (u2) for all
their users. Each user has their own user id (IS1) to login to the
ISVs system. We need to report to the CFTC all the ids. In the
parties block we are using Party Role 44 (Order Entry Operator id)
(tags 448, 452) to report u1 and u2-the user ids that are used to
connect to our trading system.

What Party role or tag could we use to report the other user id
(IS1)that is supplied to us by the ISV?

5

55 Session ID could be used and would make it clear that this is not about business owners/submitters of a transaction. We also use “Executing”-roles to represent “business” on-behalf as opposed to technical routing on-behalf (header fields). “business” on-behalf could be the head trader but also market operations doing this. Normally, Entering=Executing.

So if you cannot restrict the ISV to SenderCompID/SenderSubID in the header and need it in your party roles, 55 seems to be a valid choice. A reason could be that the header is stripped off once a message arrives at the market place. if you have to report the ISV to the CFTC at a later point in your process chain, you no longer have access to the header fields which were just the “envelope” for the message. So I believe there is a valid business requirement for this.

Regards,
Hanno.

Thanks for you’re response Hanno. However, party role 12 - Executing
Trader for a third party role is something we use for other
purposes…If I am a broker and say I am on vacation. If you Execute a
trade on my behalf we would report you’re id under party role 12. Party
roles 1 and 7 are more for firms than individual logon ids.

What I am looking for is a party role like 44.

Assume each Trader and Executing trader has several clerks working for
them. Each clerk has been assigned their unique logon id at the ISV.
This is the id we need to report to the CFTC. Is there a party role to
report that id? Party role 44 is used as I mentioned earlier in the
thread to report the logon id that the ISV uses to login to our
trading engine.

Could party role 55 session id be used? Or is that referring to a
session.

Thanks.

Normally, your ISV (we call them Independent Software Vendors) would
be routing orders to you on behalf of their clients. This represents
pure technical information as they typically do not carry any
responsibility for the order being entered. This would be covered by
fields in the standard header, i.e. your ISV would not be conveyed in
teh Parties block, only the users would.

However, if you need to report the ISV ID to the CFTC, you are
probably right in using party roles for that as it becomes a non-
technical party. FIX offers a distinction between entering and
executing traders/units/firms. Your ISV is the entering party but is
not respopnsible for any executions, i.e. your users are the executing
parties. If you want to define parties at the firm level you can use
7=Entering Firm for that and then 1=Executing Firm for the users. If
you have more than one user from a single firm, you might want to add
12=Executing Trader as a third party role.

We have 2 different kinds of users:
a) Some directly connect to our trading system using a userid (u1)
b) Some users login via a Integrated service vendor(ISV. The ISV
connects to our trading system using a common user id (u2) for
all their users. Each user has their own user id (IS1) to login
to the ISVs system. We need to report to the CFTC all the ids. In
the parties block we are using Party Role 44 (Order Entry
Operator id) (tags 448, 452) to report u1 and u2-the user ids
that are used to connect to our trading system.

What Party role or tag could we use to report the other user id
(IS1)that is supplied to us by the ISV?

6

Hi Mavin -

I think this is an area where the exchanges reporting trading activity to the CFTC should try to do things in a standardized way. CME has a similar requirement of sending the operator/user that submitted an order. My recommendation would be to use Party Role 44 to identify the specific operator/user whether directly connecting to the exchange or connecting via ISV. Role 55 should be reserved for the session identifer since this is relevant in either case. The ISV ID could be further distinguished using a PartySubIDType/tag 803. In FIXML terms it would look like this:

Direct connection

ISV connection


Party Role 44 is being used to capture the the actual operator that submitted the order in both cases. For the ISV case, the ISV ID is sent as a PartySubID using PartySubIDType of “System”

Let’s discuss further offline if necessary.

Matt

Normally, your ISV (we call them Independent Software Vendors) would be
routing orders to you on behalf of their clients. This represents pure
technical information as they typically do not carry any responsibility
for the order being entered. This would be covered by fields in the
standard header, i.e. your ISV would not be conveyed in teh Parties
block, only the users would.

However, if you need to report the ISV ID to the CFTC, you are probably
right in using party roles for that as it becomes a non-technical party.
FIX offers a distinction between entering and executing
traders/units/firms. Your ISV is the entering party but is not
respopnsible for any executions, i.e. your users are the executing
parties. If you want to define parties at the firm level you can use
7=Entering Firm for that and then 1=Executing Firm for the users. If you
have more than one user from a single firm, you might want to add
12=Executing Trader as a third party role.

We have 2 different kinds of users:
a) Some directly connect to our trading system using a userid (u1) b)
Some users login via a Integrated service vendor(ISV. The ISV
connects to our trading system using a common user id (u2) for all
their users. Each user has their own user id (IS1) to login to the
ISVs system. We need to report to the CFTC all the ids. In the
parties block we are using Party Role 44 (Order Entry Operator id)
(tags 448, 452) to report u1 and u2-the user ids that are used to
connect to our trading system.

What Party role or tag could we use to report the other user id
(IS1)that is supplied to us by the ISV?