Removal of Security ID from the Execution Report

1

Is it ok to remove the SecurityID (tag no. - 48) and Side (tag no. - 54) from the Execution Report (Msg Type - 8) When ExecType (tag no. - 150) is having values as 4 (“Cancelled”) and 5 (“Replaced”), as Client Order Id (tag no. - 11) and Order Id (tag no. - 37) is always available in the Execution report for the purpose of identifying the other details of the order?

2

The normative FIX specification does not define any exceptions for the Instrument component or the Side(54) field, i.e. they are required unconditionally. Agree that it has become less relevant over the years to echo all input fields in an ExecutionReport(35=8) message. At least if used for direct responses to confirm/reject the requested action. They are still needed in a drop copy feed. Back in the days when the message was created, the required fields helped to ensure that the response could be analysed without having to lookup any information.

May I asked what the advantage of dropping these fields is? If it is about latency then I assume you are using a binary encoding such as SBE and not tag=value syntax(?).

3

Hello Hanno Klein,

Thank you for your reply.

We are planning to remove these fields for the purpose of HA (High Availability), where we will make our Server Stateless.

Additionally, we are planning to remove ‘Original Client Order Id’ (tag no. 41) from the Execution Report.

4

@swatijain19 take a look at EP188 (https://www.fixtrading.org/packages/ep188/) that describes some options for reducing application level verbosity. The number of messages you have to exchange per business event is much more crucial than the number of fields per message.

For an example of FIX semantics in a high performance environment, take a look at the FIX-based interface ETI of Eurex’s T7 (https://www.eurex.com/ex-en/technology/t7). They use FIX application messages over a binary encoding that is basically SBE (https://www.fixtrading.org/standards/sbe-online/), just different meta-data representation.

5

Hi Klein,
Its regarding help in FIX API. Any help would be highly appreciated.
Thnx.

Here is the link for my queries.
How to read tag 448 which appears multiple time a FIX file.?

Thnx,
Waseem

6

@wakthar I guess you wanted to post your reply here.

7

@hanno.klein- Hi Klein, Yes i’m looking for your/anyone attention on my queries posted in another thread.

Link for query is-
http://forum.fixtrading.org/t/how-to-read-tag-448-which-appears-multiple-time-a-fix-file/15402

Let me know, if i missed anything which you need to understand the query.

Thnx.