TradeCondition field

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1

Imported from previous forum

2

[ original email was from Darshan Khedekar - darshan.khedekar.ext@deutsche-boerse.com ]
Do we have an explanation on the possible field values?

I am particularly interested in TradeCondition field in MarketDataIncrementalRefresh and Snapshot message.

Some of the values like W - Ex, G - Rule 127
H - Rule 155 donot make much sense to me.

Darshan

3

Hello Darshan,

Some of these values are specific to certain marketplaces, and ended up in the standard. Markets that do not use them don’t have to support them.

For example, Rule 127 is applicable to NYSE only (as fas as I know) and relates to procedures the trading floor specialist should follow for trades occurring outside the best bid or offer.

Another example, Rule 155 is specific to AMEX, and states that the specialist should not “trade ahead of the book”, i.e. he/she should not trade against its own account while there is an agency/broker order that is tradable.

Hope this helps,
Jochen.

Do we have an explanation on the possible field values?

I am particularly interested in TradeCondition field in
MarketDataIncrementalRefresh and Snapshot message.

Some of the values like W - Ex, G - Rule 127 H - Rule 155 donot make
much sense to me.

Darshan

4

[ original email was from Matt Simpson - msimpson@cme.com ]

Specifically, the value W is for indicating Ex-Pit trades. The description here is ‘Ex-pit’. The values starting at lower-case ‘a’ were added to support the OPRA feed.

Hello Darshan,

Some of these values are specific to certain marketplaces, and ended
up in the standard. Markets that do not use them don’t have to
support them.

For example, Rule 127 is applicable to NYSE only (as fas as I know) and
relates to procedures the trading floor specialist should follow for
trades occurring outside the best bid or offer.

Another example, Rule 155 is specific to AMEX, and states that the
specialist should not “trade ahead of the book”, i.e. he/she should not
trade against its own account while there is an agency/broker order that
is tradable.

Hope this helps, Jochen.

Do we have an explanation on the possible field values?

I am particularly interested in TradeCondition field in
MarketDataIncrementalRefresh and Snapshot message.

Some of the values like W - Ex, G - Rule 127 H - Rule 155 donot make
much sense to me.

Darshan