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FIX Semantics
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Re: Open/Close Indicator = CloseButNotifyOnOpen
John Cameron / Cameron Edge <>
2 Jul 2012 7:36AM ET Thanks for the clarification Hanno. I have update FIXwiki accordingly - see http://fixwiki.org/fixwiki/PositionMaintenanceReport
> Thanks for catching that John. I think we need to adapt the comment in light of the extension requirements discussed during the last 12 months. The introduction of a PositionMaintenanceRequestAck as a replacement of the PositionMaintenanceReport would have too much impact on existing applications. Hence it was chosen to use the existing PositionMaintenanceReport in addition to the PositionReport to report positions in an unsolicited manner. The distinction between the two is similar to market data where you have snapshots and incrementals. PositionReport is intended as a snapshot of the entire position whereas PositionMaintenanceReport allows to convey incremental changes triggered by trades, exercises, position transfers etc. and not triggered by someone submitting a PositionMaintenanceRequest .
> I think we will also need to adjust the synopsis of the PositionMaintenanceReport message in the FIX Repository which still only describes one use case, i.e. "The Position Maintenance Report message is sent by the holder of a positon in response to a Position Maintenance Request and is used to confirm that a request has been successfully processed or rejected.". That probably should have been part of EP153.
>
> > I don't think this is correct.
> >
> > See the notes in FIXwiki for PositionMaintenanceReport - http://fixwiki.org/fixwiki/PositionMaintenanceReport
> >
> > The note from Hanno back in March 2011 explicitly states that "This message should not be used as an unsolicited report on position changes which is the purpose of the PositionReport message.".
> >
> > John
> >
> > > Hi Dominic,
> > >
> > > The PositionMaintenanceReport message can be sent in an unsolicited manner. The PositionMaintenanceRequest can be used to "subscribe" for a stream of PositionMaintenanceReport messages.
> > >
> > > Kind Regards,
> > >
> > > Prateek Jain
Re: Open/Close Indicator = CloseButNotifyOnOpen
John Cameron / Cameron Edge 2 Jul 2012 7:36AM ET
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@FIXProtocol
