Tag 119

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Imported from previous forum

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[ original email was from darren nash - darren.nash@bbh.com ]
Hi
Does anyone know of brokers sending tag 119 in execution reports with the principle, taxes, fees etc realtime? and is this standard practice?
Thanks in advance.

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Hi Does anyone know of brokers sending tag 119 in execution reports with
the principle, taxes, fees etc realtime? and is this standard practice?
Thanks in advance.
Darren,

According to the FIX 4.0 errata, Tag 119 is used for the “…Total amount due expressed in settlement currency (includes the effect of the forex transaction)”. Based on this I would say this would be used for FX related transactions only. Is this a FOREX transaction?

4

[ original email was from darren nash - darren.nash@bbh.com ]
Frank,
Its not a FOREX transaction, fees and taxes etc will be in the same currency as the exchange/market.
I’ve spoken to a couple of brokers and they dont supply tag 119 with this info, thats what made me think this is not standard practice or maybe only few brokers/exchanges supply tag 119
Thanks Darren

Hi Does anyone know of brokers sending tag 119 in execution reports
with the principle, taxes, fees etc realtime? and is this standard
practice? Thanks in advance.
Darren,

According to the FIX 4.0 errata, Tag 119 is used for the “…Total
amount due expressed in settlement currency (includes the effect of the
forex transaction)”. Based on this I would say this would be used for FX
related transactions only. Is this a FOREX transaction?

5

We’ve always taken the position that one order represents orders for multiple accounts and some of the charges are based upon the size of each account, etc. Thus, the broker could not accurately communicate the charges, especially on a per-fill basis. There is the ability for the Execution Report to be used in the “Calculated” status after the fills have been processed to report charges and net money.

Frank, Its not a FOREX transaction, fees and taxes etc will be in the
same currency as the exchange/market. I’ve spoken to a couple of brokers
and they dont supply tag 119 with this info, thats what made me think
this is not standard practice or maybe only few brokers/exchanges supply
tag 119 Thanks Darren

Hi Does anyone know of brokers sending tag 119 in execution reports
with the principle, taxes, fees etc realtime? and is this standard
practice? Thanks in advance.
Darren,

According to the FIX 4.0 errata, Tag 119 is used for the “…Total
amount due expressed in settlement currency (includes the effect of
the forex transaction)”. Based on this I would say this would be used
for FX related transactions only. Is this a FOREX transaction?