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FIX Semantics
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Re: Open/Close Indicator = CloseButNotifyOnOpen
Hanno Klein / Deutsche Börse <>
29 Jun 2012 7:50AM ET The elaboration of this value is: "The trade should close an existing position – if the position is closed out and a new position (on the opposite side) is opened a notification is sent out". Notifications about position changes should use PositionMaintenanceReports (MsgType=AM). You would use the same message for different kinds of parties you want to inform. The recipient should normally be aware of his role but maybe you address the case where a single party is trading and clearing. In this case you can use the parties block inside the message and use PartyRole=1 (Executing Firm) and PartyRole=4 (ClearingFirm) to identify the parties. The recipient can then find his own ID associated with the role in which he receives the message. The values can be identical if he clears his own trades.
The value was added back in 2007 by OMX (see GTC document http://www.fixprotocol.org/documents/3645/FIX%20Protocol%20Gap%20Analysis%20-%20OMX%20Order%20Routing%20Req%27s%20ph.%20II%200.40.rar).
Regards,
Hanno.
> Hi there, I am looking at the usage of tag 77 (i.e. PositionEffect).
>
> There is a valid value N = "Close But Notify On Open", I wonder what FIX message(s) will be used to notify (1) the trading party and (2) the clearing party when the situation occurs?
>
> Regards
Re: Open/Close Indicator = CloseButNotifyOnOpen
Hanno Klein / Deutsche Börse 29 Jun 2012 7:50AM ET
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