[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/605ffc73 - PLEASE DO NOT REPLY BY MAIL.]
I agree that you would rarely use different values for TransactTime in a QuoteRequest for multiple instruments. On the other hand, if it is outside the repeating group, you can never have different values and would need to issue multiple quote requests. FIX always tries to be flexible. Maybe that was the reason to choose the given design. TransactTime is primarily intended to capture a business level timestamp of the sender of a request (as opposed to SendingTime on the technical level). I agree that the description in the data dictionary is not generic enough to cover all its use cases. It is also slightly redundant as the data type already defines it to be UTC. One could then add context specific descriptions within the individual messages. For a Quote Request it would be the time the request was made from a business perspective and you could have multiple timestamps if you collect quote requests from multiple sources and bundle them together to a single request towards a marketplace. Regards, Hanno. > What's the business meaning of TransactTime (60) in the QuotReqGrp of > the QuoteRequest [R] message? > > If a QuoteRequest [R] includes multiple instruments (symbols), why would > I want/need to specify a TransactTime (possibly a different one) for > each of the instruments. If TransactTime is always the same, then why is > it not specified outside the repeating group? > > In the context of QuoteRequest [R], what does the definition of > TransactTime (60) -- "Time of execution/order creation (expressed in UTC > (Universal Time Coordinated, also known as "GMT")" -- mean? [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 -~----------~----~----~----~------~----~------~--~---
