Tag 17 from multiple destinations

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1

Imported from previous forum

2

Hi All,

Can tag 17 have same value for execution reports(fills) sent for two different orders.

Consider the below use case :

Client A sends orders to two destinations Exch1 and Exch2 from the same fix session.

For first order sent to Exch1 :
one complete fill received with tag 37 = ABC and tag 17 (for fill) = AAA from exchange

For second order sent to Exch2 :
one complete fill received with tag 37 = XYZ and tag 17 (for fill) = AAA from exchange

This can occur in a rare scenario where both destinations end up sending a common tag 17 for a specific order.

Now, can the tag 17 be sent as it is to the client with the same value AAA for both the different orders or we need to manipulate the same to guarantee uniqueness for the same client session ?

Please help in understanding this as per fix protocol.

Regards,
Shailender Kashyap

3

Hi Shailender,

as far as I understood the field 17/ExecID should be unique per FIX session.

So if you use different FIX sessions for Exch1 and Exch2, you could easily identify
whether the order with the tag 17/ExecID=AAA belongs to Exch1 or Exch2. For further
upstream processing, you could prepend the exchange id as prefix to the 17/ExecID:

17=Exch1.AAA
17=Exch2.AAA

If the orders are sent over the same FIX session to different exchanges, the FIX session
counter party should ensure that the 17/ExecID is complete. If this is not the case,
a workaround would also to use the exchange id prefix.

HTH, Jörg

Can tag 17 have same value for execution reports(fills) sent for two different orders.

Consider the below use case :

Client A sends orders to two destinations Exch1 and Exch2 from the same fix session.

For first order sent to Exch1 :
one complete fill received with tag 37 = ABC and tag 17 (for fill) = AAA from exchange

For second order sent to Exch2 :
one complete fill received with tag 37 = XYZ and tag 17 (for fill) = AAA from exchange

This can occur in a rare scenario where both destinations end up sending a common tag 17 for a specific order.

Now, can the tag 17 be sent as it is to the client with the same value AAA for both the different orders or we need to manipulate the same to guarantee uniqueness for the same client session ?

4

ExecID is unique by sell-side. It means that you (as broker) should also provide a unique ExecID to your buy-side. SecondaryExecID (527) can be used to populate the original ExecID of the exchange.

Xavier.

Hi Shailender,

as far as I understood the field 17/ExecID should be unique per FIX session.

So if you use different FIX sessions for Exch1 and Exch2, you could easily identify
whether the order with the tag 17/ExecID=AAA belongs to Exch1 or Exch2. For further
upstream processing, you could prepend the exchange id as prefix to the 17/ExecID:

17=Exch1.AAA
17=Exch2.AAA

If the orders are sent over the same FIX session to different exchanges, the FIX session
counter party should ensure that the 17/ExecID is complete. If this is not the case,
a workaround would also to use the exchange id prefix.

HTH, Jörg

Can tag 17 have same value for execution reports(fills) sent for two different orders.

Consider the below use case :

Client A sends orders to two destinations Exch1 and Exch2 from the same fix session.

For first order sent to Exch1 :
one complete fill received with tag 37 = ABC and tag 17 (for fill) = AAA from exchange

For second order sent to Exch2 :
one complete fill received with tag 37 = XYZ and tag 17 (for fill) = AAA from exchange

This can occur in a rare scenario where both destinations end up sending a common tag 17 for a specific order.

Now, can the tag 17 be sent as it is to the client with the same value AAA for both the different orders or we need to manipulate the same to guarantee uniqueness for the same client session ?