Proper way to specify BBSS Booth/Terminals

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1

Imported from previous forum

2

Question:

(re: new order msg).

what is the recommended way to target/send an order to a specific booth on BBSS??

BBSS exists as a valid exchange under ExDestination tag (#100) 100=10.

More info in needed to get it to a specific broker booth, i.e. the BBSS booth or terminal ID.

To me, the ExecBroker tag (#76) seems appropriate here, we can set the ExecBroker id equal to the terminal id that your trying to target.

Any thought or comments on this approach?

How are others implementations doing this?

Please advise.

thanks
– Paul S.

3

One approach: To insure the order reaches a booth in the appropriate room or the booth closest to that symbol’s post, the broker can manage the final destination. The client only needs to know what floor broker or brokers they have set up with the routing (sellside) broker.

Using tag 76 sounds viable if you are set up to use various floor brokers - most of our clients only use one (at this time) and we route it the booth in the appropriate room. I would recommend a user-defined tag (5000-9000) if the client wants to specify the booth id. I could also support an "extention" to tag 100, ExDestination - using something like N.nn where nn is the booth id (I can hear the complaints already).

Some customers like to know the order is presented on the floor immediately, but do not specify which floor broker to use - this allows the sellside firm to route orders (based on client profiles) to the same floor broker or booth as earlier orders (and perhaps still open orders) for that symbol.

These options allow us the greatest flexibility. We certainly would support any convention that comes into standard use to allow clients more control, if desired, as long as we can maintain flexibility for other clients who prefer to have the sellside manage the ultimate destination on the floor.

Jim D.

> Question:
>
> (re: new order msg).
>
> what is the recommended way to target/send an order to a specific booth on BBSS??
>
> BBSS exists as a valid exchange under ExDestination tag (#100) 100=10.
>
> More info in needed to get it to a specific broker booth, i.e. the BBSS booth or terminal ID.
>
> To me, the ExecBroker tag (#76) seems appropriate here, we can set the ExecBroker id equal to the terminal id that your trying to target.
>
> Any thought or comments on this approach?
>
> How are others implementations doing this?
>
> Please advise.
>
> thanks
> – Paul S.
>
>

4

In FCS (CMS) a booth-routed message specifies the booth code as B-aa, where aa is the booth id. The NYSE SDOT system maps the booth id to the appropriate destination device on the trading floor.

I do not advise the use of Tag 76 as suggested.

I would look more closely at any of the tags: 142, 143, 144, 145.

Gerry Libretti
glibrett@siac.com

> Question:
>
> (re: new order msg).
>
> what is the recommended way to target/send an order to a specific booth on BBSS??
>
> BBSS exists as a valid exchange under ExDestination tag (#100) 100=10.
>
> More info in needed to get it to a specific broker booth, i.e. the BBSS booth or terminal ID.
>
> To me, the ExecBroker tag (#76) seems appropriate here, we can set the ExecBroker id equal to the terminal id that your trying to target.
>
> Any thought or comments on this approach?
>
> How are others implementations doing this?
>
> Please advise.
>
> thanks
> – Paul S.
>
>