PartyRole for Institutional Client in Parties Block


#1

Hi,

I am implementing FIX 5.0 SP2.

What value should I use for Institutional Client in PartyRole of Parties Component Block?

I have already used PartyRole values 1, 3 and 4 for Trading Member, Client ID and Clearing Member respectively.

Also suggest the value expected for the Institutional Client’s Clearing Member.

What should be the corresponding value expected in the Tag 528 (Order Capacity)?

Thanks in Advance,
Mahesh K


#2

Party roles are relative to the message and its semantic. Do you really need to convey two different clients with their respective clearing members in the same message? OrderCapacity(528) can only have one value, i.e. the capacity of the firm placing the order. If you want to identify the type of client you could use OwnerType(522) set to 1=Individual investor or 14=Institutional customer.