What to use for CompID?

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1

Imported from previous forum

2

What is the common practice for choosing values
of xxxxCompID:

  • is it established by agreement between the two
    sides of each FIX link?

  • is some well-known identifier used?

Thanks,

Richard Close

3

Most brokers use their Nasdaq market maker mnemonic. Most buysides do not have such a code. It is done through established agreement between counterparties. I would also recommend that you do not use the counterparty’s CompID as the unique key to your table or list of FIX sessions, rather some other code which would provide the flexibility to support the same counterparty via more than one FIX session, etc.

> What is the common practice for choosing values
> of xxxxCompID:
>
> - is it established by agreement between the two
> sides of each FIX link?
>
> - is some well-known identifier used?
>
> Thanks,
>
> Richard Close
>
>

4

> Most brokers use their Nasdaq market maker mnemonic. Most buysides do not have such a code. It is done through established agreement between counterparties. I would also recommend that you do not use the counterparty’s CompID as the unique key to your table or list of FIX sessions, rather some other code which would provide the flexibility to support the same counterparty via more than one FIX session, etc.

What you are saying is that I can create my own CompID field and agree with my partner to use the new one between us. Are the FIX Server Systems so open to permit multiple CompID? If they have one already, and I assign a new one, their system will need to handle two different CompID.

I think that it is a decision that will be difficult to make, I need to create a new account, but I won’t like to give them a new CompID if their systems won’t be able to handle multiple CompID.

Thanks,

Jose Horton

5

There are two CompIDs: yours and your counterparty’s. You should be able to “assign” your own CompID and instruct your counterparties to use it as their TargetCompID. Your counterparties should be able to assign their own CompID and instruct you to use it as your TargetCompID.

> > Most brokers use their Nasdaq market maker mnemonic. Most buysides do not have such a code. It is done through established agreement between counterparties. I would also recommend that you do not use the counterparty’s CompID as the unique key to your table or list of FIX sessions, rather some other code which would provide the flexibility to support the same counterparty via more than one FIX session, etc.
>
> What you are saying is that I can create my own CompID field and agree with my partner to use the new one between us. Are the FIX Server Systems so open to permit multiple CompID? If they have one already, and I assign a new one, their system will need to handle two different CompID.
>
> I think that it is a decision that will be difficult to make, I need to create a new account, but I won’t like to give them a new CompID if their systems won’t be able to handle multiple CompID.
>
> Thanks,
>
> Jose Horton
>
>

6

You are right… and that is my problem… For security purpose, we can not use a known CompID. The Security department is requiring to generate a new CompID for each counterparty. Now I have to fight to certify that our System doesn’t assign a CompID in use, and that the counterparty’s FIX System permits them to have 2 different CompID.

Thanks,

Jose Horton

> There are two CompIDs: yours and your counterparty’s. You should be able to “assign” your own CompID and instruct your counterparties to use it as their TargetCompID. Your counterparties should be able to assign their own CompID and instruct you to use it as your TargetCompID.
>
>
> > > Most brokers use their Nasdaq market maker mnemonic. Most buysides do not have such a code. It is done through established agreement between counterparties. I would also recommend that you do not use the counterparty’s CompID as the unique key to your table or list of FIX sessions, rather some other code which would provide the flexibility to support the same counterparty via more than one FIX session, etc.
> >
> > What you are saying is that I can create my own CompID field and agree with my partner to use the new one between us. Are the FIX Server Systems so open to permit multiple CompID? If they have one already, and I assign a new one, their system will need to handle two different CompID.
> >
> > I think that it is a decision that will be difficult to make, I need to create a new account, but I won’t like to give them a new CompID if their systems won’t be able to handle multiple CompID.
> >
> > Thanks,
> >
> > Jose Horton
> >
> >
>

7

[ original email was from Koji Kubota - koji.kubota@gs.com ]
This was one of the issues in Japan Extension
(FIX4.1J) discussion. In Japan, there is an
organization called "Standard Code Association"
which consists of stock exchanges and other
associations in the financial industry.

We have agreed that in Japan we will use
ID numbers that Standard Code Association
defines for each financial institutions.
For other possible FIX participants such as
vendors or companies which are not considered
as financial firms, Japan FIX Steering committee
will issue and maintain IDs.

This is a part of FIX4.1J definition, but the
further discussions are necessary for
international connections.

> What is the common practice for choosing values
> of xxxxCompID:
>
> - is it established by agreement between the two
> sides of each FIX link?
>
> - is some well-known identifier used?
>
> Thanks,
>
> Richard Close
>
>