[This message was posted by Naresh Kumar of TCS <[email protected]> to the "US Regulations" discussion forum at http://fixprotocol.org/discuss/48. You can reply to it on-line at http://fixprotocol.org/discuss/read/7c07d1d9 - PLEASE DO NOT REPLY BY MAIL.]
Thanks Greg, it was really helpful. Regards, Naresh I don’t believe you’ll find a general purpose validator for OSI. > Each of the external entities (exchanges, ECNs, the OCC) may require a > different message model depending on the business function being > performed and the FIX version being used. For example: OSI under FIX > 4.2 requires Maturity Month Year (tag 200) and Maturity Day (tag 205) > to indicate the expiration date. But in FIX 4.4 and greater you would > just append the expiration day to the end of Maturity Month Year and > not use Maturity Day. The OCC and most exchanges publish > specifications describing their interfaces. If you compare these specs > you’ll see the differences. A translation of your Investment > Bank’s FIX messages may need to take place in order to match those > of the target venue. To perform this translation the message from the > Investment Bank must contain: > - Root option symbol > - Strike price > - Call/put indicator > - Complete expiration date (year, month, day) Given this information the > symbol supported by the venue can be derived. For example take a look > at the April $95 IBM calls which expire on April 17, 2009. They would > have an OSI symbol of “IBM 090417C00095000” but when trading this > option over a FIX connection the message may look like > “8=FIX4.2|22=8|55=IBM|167=OPT|200=0904|201=1|202=95|205=17|…” As > for validation, you may only want to validate that you have the > necessary information in your source message. > > I hope this was useful. > > -Greg [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 -~----------~----~----~----~------~----~------~--~---
