Reciprocal FX rates over FIX

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1

Imported from previous forum

2

Hi
I’m pretty sure the answer is no, but does the FIX spec have support for supplying reciprocal rates over FIX ?

Thanks
regards
Pritam

3

Hi I’m pretty sure the answer is no, but does the FIX spec have support
for supplying reciprocal rates over FIX ?

Thanks regards Pritam

Not sure if this is what you are looking for but as part of the v5.0 SP2 EP100 release we introduced two new enums for PriceType(423).

Description:
Used in OTC FX trades to further qualify LastSpotRate(194) Price(44) and LastPx(31).

Values

Normal – represents the number of units of currency 2 that is required to purchase one unit of currency 1.

Inverse – represents the number of units of 1 that is needed to purchase one unit of currency 2.

4

Hi I’m pretty sure the answer is no, but does the FIX spec have
support for supplying reciprocal rates over FIX ?

Thanks regards Pritam

Not sure if this is what you are looking for but as part of the v5.0 SP2
EP100 release we introduced two new enums for PriceType(423).

Description: Used in OTC FX trades to further qualify LastSpotRate(194)
Price(44) and LastPx(31).

Values

Normal – represents the number of units of currency 2 that is required
to purchase one unit of currency 1.

Inverse – represents the number of units of 1 that is needed to
purchase one unit of currency 2.

Hi Ned
many thanks for the prompt response. It isn’t quite what I’m looking for but does answer my question - in that the above allows for quoting with one or the other type of price but not both. I realise quoting both could lead to confusion but I wanted to see nonetheless.

I had a look at FIXimate and for SP2 but didn’t see the new enums by the way. What are the enum values for Normal and Inverse ?

Many thanks
Pritam

5

They are defined in v5.0 SP2 EP100 and have the values of:

20 - Normal rate representation (e.g. FX rate)
21 - Inverse rate representation (e.g. FX rate)