[This message was posted by Udai Abburi of <[email protected]> to the "Foreign Exchange" discussion forum at http://fixprotocol.org/discuss/1. You can reply to it on-line at http://fixprotocol.org/discuss/read/7191f6c6 - PLEASE DO NOT REPLY BY MAIL.]
Hello, Wanted to check on the following, regarding the FX symbology in Market Data subscriptions and returned snapshot messages etc. I assume there is no requirement to follow market conventions as far as FX Symbol (tag 55) goes. So, we could for example have an incoming Market data subscription received where Symbol is specified as "GBP/EUR" which would mean X units of EUR per 1 unit of GBP and not the more conventional "EUR/GBP" Or to take another example a Symbol can be specified as "JPY/CHF" and not "CHF/JPY". This then means that if a market data provider is streaming rates, the provider needs to invert the rates as appropriate to match the Symbol (quotation direction of CCY2 per CCY1) of the subscription message within the returned snapshot messages ? Would that be the correct behavior or should the subscription be rejected if it does not match the convention maintained by the market data provider. In practice does this happen often ? Thanks Regards [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 -~----------~----~----~----~------~----~------~--~---
