Time difference in Tags 52 & 60

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Imported from previous forum

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Do the time fields in Tag 60 and 52 always have to be the same, our vendor FIX engine places a 1 seconds difference on various exection going back to clients.

Any thoughts…?

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[ original email was from Jay Hurley - Jay.Hurley@morganstanley.com ]
> Do the time fields in Tag 60 and 52 always have to be the same, our vendor FIX engine places a 1 seconds difference on various exection going back to clients.

Any thoughts…?

60 is the transaction time and 52 is the time that it gets sent to you. If the time stamp resolution is 1s then it could be that only a few ms to process the transaction and send the result but you get two different second times stamps e.g. 23:59:59.999 and 00:00:00.0001 will translate to 23:59:59 and 00:00:00.

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Do the time fields in Tag 60 and 52 always have to be the same, our vendor FIX engine places a 1 seconds difference on various exection going back to clients.

Any thoughts…?

Following is the logic of tag#60 and tag#52.

  1. Tag#52 can be greater than or equals to tag#60.
  2. Tag#52 can not be less than tag#60.
  3. The difference between tag#52 and tag#60 is the latency of the Execution Report.

Regards,
Kiran

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[ original email was from John Greenan - john.greenan@alignment-systems.com ]
> Do the time fields in Tag 60 and 52 always have to be the same, our vendor FIX engine places a 1 seconds difference on various exection going back to clients.

Any thoughts…?

In some cases I have seen 60 populated by the OMS and 52 by the FIX engine. So it can - roughly - measure internal latency between OMS and FIX engine.

A number of large popular vendor supplied buy-side OMS do this.