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Algorithmic Trading
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Re: XML based rendering of custom parameters
Stephen Cooper / Miletus Trading, LLC
10 Nov 2005 3:54PM ET "I personally would like to take this further and include some kind of rendering schema that tells an OMS how to display an algorithm & its parameters, but that can come later."
^ I agree, and in fact I think this is the key. The bottleneck appears to be not just getting the correct tags populated and sent to the broker but presenting the buy side with a rich-enough interface, inside their OMS, with which to set those parameters. Because the universe of algo parameters could remain dynamic and somewhat proprietary for some time. In other words, define a standard way to describe and lay out the trader's screen, and behind that, a standard way to map those "user interface components" to FIX tags/values that the broker expects.
I will be unable to attend the group on the 14th but will catch up after.
> Its quite simple really - I think perhaps you're reading too much into
> it. The DTD/XML schema proposal is purely to come up with a standard XML
> template that can be used to describe *any* algorithm offered by a sell-
> side broker, i.e. what parameters it takes, what FIX tags they map to,
> valid ranges / values for those parameters, etc. Its all about us being
> able to define a new algorithm on-the-fly, and then instantly make that
> available in your OMS, without you or your OMS vendor having to do any
> programming, or wait for an upgrade etc.
>
> Numerous OMS vendors already have their own internal XML schema for
> doing this (and we even worked with one to get them up & running). My
> vision is to define a standard schema backed by the FPL, make it public,
> and encourage everyone to adopt it.
>
> I personally would like to take this further and include some kind of
> rendering schema that tells an OMS how to display an algorithm & its
> parameters, but that can come later.
Re: XML based rendering of custom parameters
Stephen Cooper / Miletus Trading, LLC 10 Nov 2005 3:54PM ET
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@FIXProtocol
