Trading Session Status - 35=h

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1

Imported from previous forum

2

All,

Before I start losing my hair. Has anyone here ever been requested by a vendor/counterparty to SEND 35=h before they are allowed to send orders?

Open question.

Jasper

3

Yes. Why is this a problem?
-Joey

All,

Before I start losing my hair. Has anyone here ever been requested by a vendor/counterparty to SEND 35=h before they are allowed to send orders?

Open question.

Jasper

4

Not a problem Joey, have never been asked for it before and was wondering if this is commonplace somewhere.

Yes. Why is this a problem?
-Joey

All,

Before I start losing my hair. Has anyone here ever been requested by a vendor/counterparty to SEND 35=h before they are allowed to send orders?

Open question.

Jasper

5

We often see it used in FX markets. Please don’t pull your hair out; that’s for your kids to do, along with your sanity.

Not a problem Joey, have never been asked for it before and was wondering if this is commonplace somewhere.

Yes. Why is this a problem?
-Joey

All,

Before I start losing my hair. Has anyone here ever been requested by a vendor/counterparty to SEND 35=h before they are allowed to send orders?

Open question.

Jasper

6

Is there any particular reason this is used in FX? What’s the thinking behind it from an FX perspective?

We often see it used in FX markets. Please don’t pull your hair out; that’s for your kids to do, along with your sanity.

Not a problem Joey, have never been asked for it before and was wondering if this is commonplace somewhere.

Yes. Why is this a problem?
-Joey

All,

Before I start losing my hair. Has anyone here ever been requested by a vendor/counterparty to SEND 35=h before they are allowed to send orders?

Open question.

Jasper

7

There are a few reasons that come to mind, one being that are times when FX currency orders & trades can’t be easily be hedged; an FX trader would be in a better position to explain.

Is there any particular reason this is used in FX? What’s the thinking behind it from an FX perspective?

We often see it used in FX markets. Please don’t pull your hair out; that’s for your kids to do, along with your sanity.

Not a problem Joey, have never been asked for it before and was wondering if this is commonplace somewhere.

Yes. Why is this a problem?
-Joey

All,

Before I start losing my hair. Has anyone here ever been requested by a vendor/counterparty to SEND 35=h before they are allowed to send orders?

Open question.

Jasper

8

Whose session status are you supposed to convey here? Probably your own. I am wondering what the valid values of TradSesStatus(340) are that have a meaning to the counterparty, e.g. 2=Open. You could be using user-defined values. Or is it just about sending this message as a trigger for the counterparty to open up for order entry?

All,

Before I start losing my hair. Has anyone here ever been requested by a vendor/counterparty to SEND 35=h before they are allowed to send orders?

Open question.

Jasper

9

Hi Hanno,

This is purely to convey my session status, which is why I am a bit stumped.

Session logged on, hearbeating as per normal, but am still being to requested that before any first (of the day) 35=D to send 35=h.

Expected value for 340=2 - nothing User Defined.

Whose session status are you supposed to convey here? Probably your own. I am wondering what the valid values of TradSesStatus(340) are that have a meaning to the counterparty, e.g. 2=Open. You could be using user-defined values. Or is it just about sending this message as a trigger for the counterparty to open up for order entry?

All,

Before I start losing my hair. Has anyone here ever been requested by a vendor/counterparty to SEND 35=h before they are allowed to send orders?

Open question.

Jasper

10

Sounds like some of your counterparties equate FIX session with trading session. Both have a status but mean very different things. A FIX session status makes sense but trading sessions are more relevant in the context of an execution venue, not for a single user. Sounds odd but there may be more to it that I am not aware of.

Hi Hanno,

This is purely to convey my session status, which is why I am a bit stumped.

Session logged on, hearbeating as per normal, but am still being to requested that before any first (of the day) 35=D to send 35=h.

Expected value for 340=2 - nothing User Defined.

Whose session status are you supposed to convey here? Probably your own. I am wondering what the valid values of TradSesStatus(340) are that have a meaning to the counterparty, e.g. 2=Open. You could be using user-defined values. Or is it just about sending this message as a trigger for the counterparty to open up for order entry?

All,

Before I start losing my hair. Has anyone here ever been requested by a vendor/counterparty to SEND 35=h before they are allowed to send orders?

Open question.

Jasper

11

It is just the one “counterparty”. In this case it is a vendor that has requested this.

That was the reason I was asking the question Hanno If a FIX session is up and heartbeating, it is up and heartbeating. Trading session in my eyes, just like yours is for an execution venue.

There is not much more to it hanno, I wish there was, that is why I am a bit gazumped…

I will try to find out a bit more and post any relevant details here!

Sounds like some of your counterparties equate FIX session with trading session. Both have a status but mean very different things. A FIX session status makes sense but trading sessions are more relevant in the context of an execution venue, not for a single user. Sounds odd but there may be more to it that I am not aware of.

Hi Hanno,

This is purely to convey my session status, which is why I am a bit stumped.

Session logged on, hearbeating as per normal, but am still being to requested that before any first (of the day) 35=D to send 35=h.

Expected value for 340=2 - nothing User Defined.

Whose session status are you supposed to convey here? Probably your own. I am wondering what the valid values of TradSesStatus(340) are that have a meaning to the counterparty, e.g. 2=Open. You could be using user-defined values. Or is it just about sending this message as a trigger for the counterparty to open up for order entry?

All,

Before I start losing my hair. Has anyone here ever been requested by a vendor/counterparty to SEND 35=h before they are allowed to send orders?

Open question.

Jasper

12

Hi Jasper,

Its used in the FX world as Joey mentioned, we use it on pricing sessions also, Vendor/clients applications seem to like to know that our application is ready to receive the MDS requests after the logon and will price.

We normally get 35=h and we will reply with a custom tag 35=U4. (we will be removing this from our new FIX spec).

cheers Nadeem

It is just the one “counterparty”. In this case it is a vendor that has requested this.

That was the reason I was asking the question Hanno If a FIX session is up and heartbeating, it is up and heartbeating. Trading session in my eyes, just like yours is for an execution venue.

There is not much more to it hanno, I wish there was, that is why I am a bit gazumped…

I will try to find out a bit more and post any relevant details here!

Sounds like some of your counterparties equate FIX session with trading session. Both have a status but mean very different things. A FIX session status makes sense but trading sessions are more relevant in the context of an execution venue, not for a single user. Sounds odd but there may be more to it that I am not aware of.

Hi Hanno,

This is purely to convey my session status, which is why I am a bit stumped.

Session logged on, hearbeating as per normal, but am still being to requested that before any first (of the day) 35=D to send 35=h.

Expected value for 340=2 - nothing User Defined.

Whose session status are you supposed to convey here? Probably your own. I am wondering what the valid values of TradSesStatus(340) are that have a meaning to the counterparty, e.g. 2=Open. You could be using user-defined values. Or is it just about sending this message as a trigger for the counterparty to open up for order entry?

All,

Before I start losing my hair. Has anyone here ever been requested by a vendor/counterparty to SEND 35=h before they are allowed to send orders?

Open question.

Jasper

13

Hey Nadeem,

That would make sense-ish in my eyes to receive 35=h.

As this particular project has only just landed on my desk and have made some more progress in reading the actual full specification there is now some more information, which is baffeling me a bit:

1: This logic is triggered if we send 115 (which for this project we need (have) to do).
2: 35=h is NOT on their list of inbound supported messages

I suppose asking for a session status of the session that actually sits behind the main session on which the 115 is sent I can sort of understand, but then saying the MsgType is not supported inbound seems slightly odd.

Thanks all.

Hi Jasper,

Its used in the FX world as Joey mentioned, we use it on pricing sessions also, Vendor/clients applications seem to like to know that our application is ready to receive the MDS requests after the logon and will price.

We normally get 35=h and we will reply with a custom tag 35=U4. (we will be removing this from our new FIX spec).

cheers Nadeem

It is just the one “counterparty”. In this case it is a vendor that has requested this.

That was the reason I was asking the question Hanno If a FIX session is up and heartbeating, it is up and heartbeating. Trading session in my eyes, just like yours is for an execution venue.

There is not much more to it hanno, I wish there was, that is why I am a bit gazumped…

I will try to find out a bit more and post any relevant details here!

Sounds like some of your counterparties equate FIX session with trading session. Both have a status but mean very different things. A FIX session status makes sense but trading sessions are more relevant in the context of an execution venue, not for a single user. Sounds odd but there may be more to it that I am not aware of.

Hi Hanno,

This is purely to convey my session status, which is why I am a bit stumped.

Session logged on, hearbeating as per normal, but am still being to requested that before any first (of the day) 35=D to send 35=h.

Expected value for 340=2 - nothing User Defined.

Whose session status are you supposed to convey here? Probably your own. I am wondering what the valid values of TradSesStatus(340) are that have a meaning to the counterparty, e.g. 2=Open. You could be using user-defined values. Or is it just about sending this message as a trigger for the counterparty to open up for order entry?

All,

Before I start losing my hair. Has anyone here ever been requested by a vendor/counterparty to SEND 35=h before they are allowed to send orders?

Open question.

Jasper