[This message was posted by Hanno Klein of Deutsche Börse Systems <[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/1d14ac06 - PLEASE DO NOT REPLY BY MAIL.]
New Order List has been extended in FIX 5.0 SP1 with ContingencyType (1385) to allow to express a closer coupling of the orders in the list. Your description is the reason why such orders were originally introduced (basket concept). There will be further extensions to this order type to express a small (typically 2) amount of orders that are linked to each other in a special way, i.e. an action/execution happening to one of them will automatically cause something to happen with the other one, e.g. OCO = One Cancels the Other. > New Order Multileg would be used if the legs are to be traded as a set > with a unified priced. In FI that includes rolls & switches (2 legs), > butterflies (3 legs) and spread-spread switches (4 legs). But New Order > List would be used for a basket of securities or "bid list" to be > priced and traded individually perhaps by different dealers when sent > to an ATS. > > > Good point, I did not realize that this needs to be an atomic > > transaction. Do not use NewOrderList in this case. > > > > > Switches/rolls/swaps, at least for fixed income use, are modeled > > > using the New Order Multileg. Your "from" is your sell leg and your > > > "to" is your buy leg of the order. Switches and rolls are common in > > > FI as well. > > > > > > > How does SWITCH orders (SWITCH FROM and SWITCH TO) can be traded > > > > in FIX > > > > . This is related to Mutual and offshore fund orders. > > > > > > > > i.e SWITCH FROM equivalent to MT502 SWIF , SWITCH TO equivalent to > > > > MT502 SWIT > > > > > > > > > > > > > > > > Please help us with an answer [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 -~----------~----~----~----~------~----~------~--~---
