Rule80A- "P" in FIX 4.0

, ,
1

Imported from previous forum

2

Is it possible to use "P" - Principal in in Rule80A field in FIX 4.0,

will my order message get rejected by the exchange?

Thanks

3

[ original email was from John Prewett - jprewett@lavatrading.com ]
> Is it possible to use "P" - Principal in in Rule80A field in FIX 4.0,
>
> will my order message get rejected by the exchange?
>
> Thanks
>

Depends on the exchange. You should ask them. Most sell-side firms publish a document which indicates how they use FIX (including any variances from the protocol standards).

Sell-side firms often also have test systems which can be accessed for testing and certification. You could test out your 47=P in pre-certification testing and see what will happen. Of course, this assumes that their test system reacts exactly the same as their production system …

I am aware that several sell-side organizations have non-standard usage of this field such as only accepting 47=P or 47=A.

Note also that the Rule80A field has been deprecated in FIX.4.3 in favor of OrderCapacity+OrderRestrictions.

I hope this helps.

John Prewett

4

John,

I believe accepting 47=A and 47=P only is absolutely standard for some markets :-).
For example in Japan these are the only valid values. Both FIX 4.1 and FIX 4.2 specifications state that (appendix G: Japanese
Equity Markets).

Regards,
Mikhail Jirnov
Lehman Brothers

> > Is it possible to use "P" - Principal in in Rule80A field in FIX 4.0,
> >
> > will my order message get rejected by the exchange?
> >
> > Thanks
> >
>
> Depends on the exchange. You should ask them. Most sell-side firms publish a document which indicates how they use FIX (including any variances from the protocol standards).
>
> Sell-side firms often also have test systems which can be accessed for testing and certification. You could test out your 47=P in pre-certification testing and see what will happen. Of course, this assumes that their test system reacts exactly the same as their production system …
>
> I am aware that several sell-side organizations have non-standard usage of this field such as only accepting 47=P or 47=A.
>
> Note also that the Rule80A field has been deprecated in FIX.4.3 in favor of OrderCapacity+OrderRestrictions.
>
> I hope this helps.
>
> John Prewett
>