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4.4 Changes
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Re: Roll Trade Date in New Order Single?
Vincent Thank / HSBC
13 Apr 2012 6:03AM ET Hanno, thanks a lot for your answer.
I think it's better to generate that value in sellside rather than accept it from buyside. I see some buysides just use simple local date in their timezone and don't roll it to the next after NY market rolls date.
> The description also contains "expressed in local time at place of trade" which answers your second question. If you trade in NY then that is your local time zone. Tag 64 is not ValueDate but SettlDate (since FIX 4.4, was FutSettlDate before that) and contains basically the same text "expressed in local time at place of settlement".
> If NY changes the trade date after 5pm local time then your orders should reflect that. Otherwise you are sending in an order and associating a trade date with it that has already ended. I do not know how NY handles the content of TradeDate and whether your order may be rejected based on its value but it seems more consistent to change trade and settelement date in sync.
> Regards,
> Hanno.
> > Hi Gurus,
> >
> > I have 2 questions about Trade Date field (tag75) in New Order Single (35=D) message. I see some description about that field, "Date of Local Market (vs. UTC) in YYYYMMDD format. Valid values: YYYY = 0000-9999,
> > MM = 01-12, DD = 01-31.". I get a bit confused about the Data Type, LocalMktDate.
> >
> > Firstly, Do we need to roll the trade date to the next after currency roll-date(after 5 pm NYK)? Because we roll the Value Date (tag64) in NOS.
> >
> > Secondly, if a HK user places a deal to NY market, should the user use the date in HKT or in NYT for Trade Date?
Re: Roll Trade Date in New Order Single?
Vincent Thank / HSBC 13 Apr 2012 6:03AM ET
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