Recommended practice for user-defined fields

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Imported from previous forum

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Dear All,

All user-defined fields in the range 5000-9999 have been already registered.

It was announced at FPL 2009 that all the fields will be reviewed and some of them can be merged/cleaned (especially different fields like “Reserved by someone”).

However, what is the recommended practice now if someone needs to use a custom field?

Thank you in advance for the help.

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The Global Technical Governance Board members are very well aware of the situation regarding the lack of availability of custom tag numbers at this time with in the given range. The Governance Board is meeting this week to discuss the necessary steps to take. The community will be informed of any short and/or long term policy that comes out of that meeting.

Dear All,

All user-defined fields in the range 5000-9999 have been already
registered.

It was announced at FPL 2009 that all the fields will be reviewed and
some of them can be merged/cleaned (especially different fields like
“Reserved by someone”).

However, what is the recommended practice now if someone needs to use a
custom field?

Thank you in advance for the help.

4

Thank you for information.

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[ original email was from Matthew Chimento - mjchimento@yahoo.com ]
> Thank you for information.

I just wanted to expand on this thought for a bit.

This situation could be different in your case as you can define your own set of rules with your counterparty. This is the method that is applied to earlier FIX versions. In other words, feel free to use any custom field if the counterparty agrees to the terms. In the later versions of FIX, I have seen some institutions use fields form the 4.4+ in the FIX 4.2 layer that way both parties are still in somewhat of non-customized FIX domain. FIX in the later versions is pretty much straight forward and covers most of the rules so just think if you do use a custom tag, think about what is the business logic behind adding the custom tag; what do you gain by adding this custom tag?

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Please refer to the thread below and provide comments there:
http://fixprotocol.org/discuss/read/1f73c687