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International
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re: International Security Indentification
Witold Sames
12 Nov 1998 5:34PM ET Since we are constantly in a situation of having to deal with a multitude of different symbologies, we adapted the SecurityID / IDSource / Currency approach. Bloomberg has its own way of expressing a security symbol (ticker) in a unique manner. Many people we work and connect with use RIC codes, or other 'non-Bloomberg' identifiers. To avoid these misunderstandings, we check for SEDOL, ISIN, or CUSIP in conjunction with the correct IDSource and the Currency tag. Only if we don't seem to find the desired combination in our databases will be attempt to find the symbol itself. I usually recommend this for our clients as well.
> I am curious as to how other firms are (or will be) identifying international (non-US) securities when using the FIX protocol.
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> 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.
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> 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.
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> 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?)
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> --Rich Lerman
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re: International Security Indentification
Witold Sames 12 Nov 1998 5:34PM ET
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