Tag 207

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Imported from previous forum

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Can someone help me out with the difference between tag 207 & 100. Here is my assumptions and I want to be sure I am correct.

Tag 207 is only used in helping to identify the security, but tag 100 is the exchange you want it executed on. Is that correct? So if you wanted to trade IBM and route it to Archipelago Exchange your tags would look like this:

207=N
100=39

I see tag 207 is not required on New Single, but is it a commonly sent field?

Thanks

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[ original email was from eric kou - ekou@brass.com ]
100 is the “ROUTE TO” destination;
207 is the “REGISTERED” exchange;

Can someone help me out with the difference between tag 207 & 100. Here
is my assumptions and I want to be sure I am correct.

Tag 207 is only used in helping to identify the security, but tag 100 is
the exchange you want it executed on. Is that correct? So if you wanted
to trade IBM and route it to Archipelago Exchange your tags would look
like this:

207=N 100=39

I see tag 207 is not required on New Single, but is it a commonly
sent field?

Thanks

4

Can someone help me out with the difference between tag 207 & 100. Here
is my assumptions and I want to be sure I am correct.

Tag 207 is only used in helping to identify the security, but tag 100 is
the exchange you want it executed on. Is that correct? So if you wanted
to trade IBM and route it to Archipelago Exchange your tags would look
like this:

207=N 100=39

I see tag 207 is not required on New Single, but is it a commonly
sent field?

If you have tag 207, some routing software could decide to which exchange the order is to be sent (if it is traded on different exchanges). And 100 is the the “ROUTE TO” as Eric pointed out. If you specify this, you route manually. Therefore, 207 is more often used than 100.

We use only 207, not 100.

Cheers, Jörg

5

SecurityExchange (207) is used to help identify the security (i.e. associated with the Symbol and SecurityID). ExDestination (100) is used to designate a specific exchange or execution venue. ExDestination (100) has been part of FIX since version 2.7 (the first version). SecurityExchagne (207) wasn’t added until FIX 4.1.

‘Yes’ is the answer to the original question of 207=N and 100=39 for IBM trading on Archipelago.

Can someone help me out with the difference between tag 207 & 100.
Here is my assumptions and I want to be sure I am correct.

Tag 207 is only used in helping to identify the security, but tag 100
is the exchange you want it executed on. Is that correct? So if you
wanted to trade IBM and route it to Archipelago Exchange your tags
would look like this:

207=N 100=39

I see tag 207 is not required on New Single, but is it a commonly
sent field?

If you have tag 207, some routing software could decide to which
exchange the order is to be sent (if it is traded on different
exchanges). And 100 is the the “ROUTE TO” as Eric pointed out. If
you specify this, you route manually. Therefore, 207 is more often
used than 100.

We use only 207, not 100.

Cheers, Jörg