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International
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International Security Indentification
Richard Lerman
22 Oct 1997 10:07AM ET I am curious as to how other firms are (or will be) identifying international (non-US) securities when using the FIX protocol.
Seeing that there is no standard for international ticker symbols, our plan is to primarily rely on a combination of SEDOL and ISO currency code.
The currency code will be used as a backup, in case our, or our trading partner's, SEDOL is slightly mismatched. For example, Guiness PLC trades in London and Ireland. The London version has one SEDOL, and the Ireland version has another SEDOL. One possibility is that our security master file may have incorrectly mapped the Irish SEDOL for the London version of the security. Assuming we want to trade Guiness on the London exchange, we would have sent the incorrect SEDOL to our trading partner. By also sending the currency code (which is set up correctly), our trading partner would be alerted to the mismatch and would alert us.
How are other firms handling international security identification? Are you using SEDOL, ISIN, CINS, etc? Are you using any ticker symbols (e.g. RIC-code?)
--Rich Lerman
International Security Indentification
Richard Lerman 22 Oct 1997 10:07AM ET
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