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ECNs, Exchanges
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Re: Identifying Crossing/Internalization executions
Jonathan Marocco / UBS IB Zurich <>
2 Sep 2010 12:54PM ET > hi,
>
> How do people identify ExecutionReport fills as having been done in internalization/Dark Pools? Is there a standard value for tag 30 or is there another industry standard?
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> thanks,
>
> James
James,
On FIX4.2, we tend to use tag 29 last capacity to identify the cross - 29=2 or 29=3 and tend to receive 30=11(OTC)for dark-pools or, if cross is on exchange, then the appropriate exchange mnemonic.
I assume the lastmkt tag may have an impact on your booking and settlement processes so ask your OPS team first.
Jonathan
Re: Identifying Crossing/Internalization executions
Jonathan Marocco / UBS IB Zurich 2 Sep 2010 12:54PM ET
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