[This message was posted by Zoltan Feledy of State Street Global Advisors <[email protected]> to the "General Q/A" discussion forum at http://fixprotocol.org/discuss/22. You can reply to it on-line at http://fixprotocol.org/discuss/read/fdcfb37c - PLEASE DO NOT REPLY BY MAIL.]
There is a need for a standard way to convey counterparty restrictions to a third party over FIX and the PartyID block seems like the solution. There are 4 types of restrictions: restricted/directed execution, and restricted/directed settlement. The first 2 of the above can be accomodated using... 452=56 -> Acceptable Counterparty 452=57 -> Unacceptable Counterparty A gap however exists for the settlement restrictions. Examples: I can execute with BrokerA but it has to be given up for settlement. (restricted) I can execute with anyone but it has to be settled through BrokerA. (directed) - Example to restrict 4 destinations would look like this: ...453=4|452=56|447=D|448=Broker1|452=56|447=D|448=Broker2|452=56|447=D|448=Broker3|452=56|447=D|448=Broker4... - Example to direct to 4 destinations would look like this: ...453=4|452=57|447=D|448=Broker1|452=57|447=D|448=Broker2|452=57|447=D|448=Broker3|452=57|447=D|448=Broker4... -Not having this block on an order would indicate that there are no restrictions. Replacing the PartyRole (452) values would allow us to convey restricted and directed settlement in a similar fashion thereby providing a complete solution to the stated problem. This would require the addition of the following 2 enumerations to PartyRole (452): 452=<TBD> -> Unacceptable Settling Party 452=<TBD> -> Acceptable Settling Party Since we are expanding the enumerations as part of this expansion I thought that this would be a worthy addition. Cheers, Zoltan [You can unsubscribe from this discussion group by sending a message to mailto:[email protected]] --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Financial Information eXchange" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/FIX-Protocol?hl=en -~----------~----~----~----~------~----~------~--~---
