Imported from previous forum
[ original email was from Bert Fillie - bert.fillie@nl.fortisbank.com ]
In the specifications of the different versions is stated, that Tag55-Symbol is required.
The combination of Tag’s 48 and 22 allow the use of different coding.
Is there anyone who can explain to me why Tag 55
is still required when we want to use another identification of the security, such as ISIN or Cedol?
Many thanks
Bert Fillié
[ original email was from John Harris - john.harris@bondmart.com ]
Bert, the field Symbol (55) is no longer required as of version 4.3.
> In the specifications of the different versions is stated, that Tag55-Symbol is required.
> The combination of Tag’s 48 and 22 allow the use of different coding.
>
> Is there anyone who can explain to me why Tag 55
> is still required when we want to use another identification of the security, such as ISIN or Cedol?
>
> Many thanks
> Bert Fillié
>
>
[ original email was from Dean Kauffman - dean.kauffman@tradeweb.com ]
The Fixed Income proposal for 4.3 and again for 4.4 asked to make Symbol (55) optional (and that may have misled you John), but given its structural importance in FIX message formats the field remains mandatory. For products and markets where Symbol is redundant or unneeded use a value containing graphics to differentiate it from other usage, e.g. [N/A] or [REPO]. The GTC asks you NOT to overload the field with other application-specific data such as a second SecurityID.
> Bert, the field Symbol (55) is no longer required as of version 4.3.
>
> > In the specifications of the different versions is stated, that Tag55-Symbol is required.
> > The combination of Tag’s 48 and 22 allow the use of different coding.
> >
> > Is there anyone who can explain to me why Tag 55
> > is still required when we want to use another identification of the security, such as ISIN or Cedol?
> >
> > Many thanks
> > Bert Fillié
> >
> >
>
[ original email was from John Harris - john.harris@bondmart.com ]
Thanks for clarifying and catching my error, Dean - sorry, Bert.
> The Fixed Income proposal for 4.3 and again for 4.4 asked to make Symbol (55) optional (and that may have misled you John), but given its structural importance in FIX message formats the field remains mandatory. For products and markets where Symbol is redundant or unneeded use a value containing graphics to differentiate it from other usage, e.g. [N/A] or [REPO]. The GTC asks you NOT to overload the field with other application-specific data such as a second SecurityID.
>
> > Bert, the field Symbol (55) is no longer required as of version 4.3.
> >
> > > In the specifications of the different versions is stated, that Tag55-Symbol is required.
> > > The combination of Tag’s 48 and 22 allow the use of different coding.
> > >
> > > Is there anyone who can explain to me why Tag 55
> > > is still required when we want to use another identification of the security, such as ISIN or Cedol?
> > >
> > > Many thanks
> > > Bert Fillié
> > >
> > >
> >
>