[This message was posted by Hanno Klein of Deutsche Börse Systems <[email protected]> to the "General Q/A" discussion forum at http://fixprotocol.org/discuss/22. You can reply to it on-line at http://fixprotocol.org/discuss/read/b559b284 - PLEASE DO NOT REPLY BY MAIL.]
Technically yes, semantically no as NewOrderList (Order-List in FIX 4.2) contains orders than can be independently executed. FIX 5.0 SP1 introduced tag 1385 ContingencyType to convey dependency information between orders, e.g. one-cancels-the-other. It still means that one order is executed and then an action is taken on another order of the same list. Multi-leg orders are different as you cannot execute only one of the legs. It is a single entity. I do not see that you can really reduce effort by using NewOrderList as opposed to a user-defined message modeled after of the proper standard message of a higher version. In case of NewOrderList, the recipient would need special logic to make sure the pieces fit together and then collate them into a single entity. You would have order ids that are actually leg ids and other details to watch out for. FIX 4.2 was released 9 years ago now (March 2000). How many software products do you have running where the latest update was that long ago? Your business needs have obviously evolved. I would try to look forward and reap the benefits from higher versions to ease a transition that will eventually happen anyway. FIX had about 450 tags to offer in FIX 4.2. The upcoming FIX 5.0 SP2 has four times that amount, i.e. over 1600 tags. All these additions came from new business needs and the current FIX "toolbox" is better than ever. FPL obviously wants people to take advantage of it. Regards, Hanno. > As Greg says, a user defined Tag with NewOrderSingle, instead of that, > if a user defined tag will be used in NewOrderList (35=E) and this tag > will signify if it is a MULTI LEG order or not. In this case there is no > need to manage the timing. Will this solve the purpose?? Amiya. > [You can unsubscribe from this discussion group by sending a message to mailto:[email protected]] --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Financial Information eXchange" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/FIX-Protocol?hl=en -~----------~----~----~----~------~----~------~--~---
