[This message was posted by Eugene Kaplan of UBS <[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/893fd676 - PLEASE DO NOT REPLY BY MAIL.]
Thanks Hanno! > 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 -~----------~----~----~----~------~----~------~--~---
