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General Q/A
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Re: IOI message, Trade Reporting
Hanno Klein / Deutsche Börse Systems <>
2 Sep 2010 7:58AM ET Marzena,
I suggest to have a look at FIX 5.0 SP2 Volume 7 Quote Negotiation(pages 229-237) first. You will find various scenarios there. In general, a Quote Request starts the flow, trying to find/get a tradable quote. A match carried out by the exchange (you) is then no different from continuous trading and conveyed by means of an Execution Report. If you also have trade enrichment you can additionally send a TradeCaptureReport to both parties.
Only if the parties would agree on the trade out of band (e.g. over the phone), a TradeCaptureReport would be the message to inform the exchange about it. In this case, please refer to Volume 5 Trade Capture Reporting (pages 82-95).
Regards,
Hanno.
> I have a question regarding FIX implementation:
> we need to support one of our market segment, i.e. extraordinary purchase of securities for instance to pay back securities that were borrowed by the participant, this is our Buy-In Sell-Out market. Trading participant should submit quote and communicate it to the all market participants, then interested participant can reply or submit a trade report.
> Is this correct to use IOI for this purposes (or any other FIX message should be used)? what next, how to report a trade? is it good idea to use AD ? What kind of messages should be sent to all participants ?
>
>
> Kind regards,
> Marzena
Re: IOI message, Trade Reporting
Hanno Klein / Deutsche Börse Systems 2 Sep 2010 7:58AM ET
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