[This message was posted by Matt Simpson of CME Group <[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/7bb9face - PLEASE DO NOT REPLY BY MAIL.]
Hi Mavin - I think this is an area where the exchanges reporting trading activity to the CFTC should try to do things in a standardized way. CME has a similar requirement of sending the operator/user that submitted an order. My recommendation would be to use Party Role 44 to identify the specific operator/user whether directly connecting to the exchange or connecting via ISV. Role 55 should be reserved for the session identifer since this is relevant in either case. The ISV ID could be further distinguished using a PartySubIDType/tag 803. In FIXML terms it would look like this: Direct connection <Pty ID="U1" R="44" Src="D"/> ISV connection <Pty ID="IS1" R="44" Src="D"> <Sub ID="U2" Typ="3"/> </Pty> Party Role 44 is being used to capture the the actual operator that submitted the order in both cases. For the ISV case, the ISV ID is sent as a PartySubID using PartySubIDType of "System" Let's discuss further offline if necessary. Matt > Normally, your ISV (we call them Independent Software Vendors) would be > routing orders to you on behalf of their clients. This represents pure > technical information as they typically do not carry any responsibility > for the order being entered. This would be covered by fields in the > standard header, i.e. your ISV would not be conveyed in teh Parties > block, only the users would. > > However, if you need to report the ISV ID to the CFTC, you are probably > right in using party roles for that as it becomes a non-technical party. > FIX offers a distinction between entering and executing > traders/units/firms. Your ISV is the entering party but is not > respopnsible for any executions, i.e. your users are the executing > parties. If you want to define parties at the firm level you can use > 7=Entering Firm for that and then 1=Executing Firm for the users. If you > have more than one user from a single firm, you might want to add > 12=Executing Trader as a third party role. > > > We have 2 different kinds of users: > > a) Some directly connect to our trading system using a userid (u1) b) > > Some users login via a Integrated service vendor(ISV. The ISV > > connects to our trading system using a common user id (u2) for all > > their users. Each user has their own user id (IS1) to login to the > > ISVs system. We need to report to the CFTC all the ids. In the > > parties block we are using Party Role 44 (Order Entry Operator id) > > (tags 448, 452) to report u1 and u2-the user ids that are used to > > connect to our trading system. > > > > What Party role or tag could we use to report the other user id > > (IS1)that is supplied to us by the ISV? [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 -~----------~----~----~----~------~----~------~--~---
