tag 11 formatting

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Imported from previous forum

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[ original email was from Asim Kaleem - asimletters@yahoo.com ]
Hi,
Is it recommended in FIX specs(any version) to format the clorderid this way --> yyyymmdd-9999 ?

3

[ original email was from John Prewett - jprewett@lavatrading.com ]
> Hi, Is it recommended in FIX specs(any version) to format the clorderid

this way → yyyymmdd-9999 ?

Not to my knowledge. The only recommendation is as follows:

“Firms, particularly those which electronically submit multi-day orders, trade globally or throughout market close periods, should ensure uniqueness across days, for example by embedding a date within the ClOrdID field”

The format of the ClOrdID contents is basically at the discretion of the “Cl” (Client). A wise ClOrdID creator will guarantee uniqueness over whatever period is needed and try and keep the contents as short as possible. Your submitted format would appear to follow those suggestions although I would hope your ‘9999’ is meant to represent a variable number of digits accomodating a number much larger than 9999 to handle huge numbers of orders.

JohnP

4

[ original email was from Asim Kaleem - asimletters@yahoo.com ]
> > Hi, Is it recommended in FIX specs(any version) to format the

clorderid this way → yyyymmdd-9999 ?

Not to my knowledge. The only recommendation is as follows:

“Firms, particularly those which electronically submit multi-day orders,
trade globally or throughout market close periods, should ensure
uniqueness across days, for example by embedding a date within the
ClOrdID field”

The format of the ClOrdID contents is basically at the discretion of the
“Cl” (Client). A wise ClOrdID creator will guarantee uniqueness over
whatever period is needed and try and keep the contents as short as
possible. Your submitted format would appear to follow those suggestions
although I would hope your ‘9999’ is meant to represent a variable
number of digits accomodating a number much larger than 9999 to handle
huge numbers of orders.

JohnP

ya, its clear that its on client’s(Cl) discretion, but there are sell side systems that restricts to follow this format else orders are not accepted, know? most of the sytems that provide DOT access rite?