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4.0 Session
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re: Resetting Sequence Numbers
Scott Atwell
15 Sep 1997 8:00PM ETI'm not aware of anything in the spec which directly ties the resetting of sequence numbers back to one to the Logout message itself. The first paragraph of the "SESSION PROTOCOL" section describes a "single FIX session" which can consist of multiple connect and disconnects (which would likely involve Logout messages). The start/stop times for each FIX session are pre-arranged and agreed to by the connecting parties and recommended that they are established
once every 24 hour period.
Generally sequence numbers are reset before each trading day. Several FIX user's systems tie this to midnight (usually from EST's perspective). This was pretty straightforward so long as you were only connected during a US domestic trading day. As more and more people use FIX for global markets, this becomes a challenge in that the markets never close during the week and midnight in the US is in the middle of the Pacific Rim markets' trading day.
This challenge can be overcome but it typically requires either precise synchronization between the counterpartys' clocks, some brief period of downtime, or some other technique. I proposed that we might want to add a "Reset Sequence Numbers on Both Sides" type message to FIX which could handle this about 9 months ago but found that a lot
of people's systems had some sort of nightly batch/close of books/etc type process requirement anyway.
Thoughts?
re: Resetting Sequence Numbers
Scott Atwell 15 Sep 1997 8:00PM ET
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