[This message was posted by hammad malik of MIXIT Inc <hama...@mixitusa.com> 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/d702aadb - PLEASE DO NOT REPLY BY MAIL.]
> > > > Hi everyone, > > > > > > > > When you send a new order single you send tag 52 in header and > > > > also tag 60 in application part as mandatory parameter.Can > > > > somebody tell me the utility of these two different fields in a > > > > order single message. > > > > > > > > and also why the tag 52 is not mandatory in Header from fix > > > > version 4.4 > > > > > > 52-> Session level info, i.e., when the message is sent 60-> > > > business level info, for example, the moment that the trader presses > > > <enter> to submit an order. > > > > > > And 52 is required in 4.4 and 5.0. > > > > HI > > > > Thanks for your quick reply. > > > > I just discovered sending time marked as N (Not mandatory) in standard > > header at following link. > > > > http://fixprotocol.org/specifications/fix4.4fiximate/index.html > > > > I think it is diplaying wrong information. > > > > I still don understand the time differnce between the sendingtime and > > transact time. What can i infer from the time difference? > > > > Regards Deepak > > SendingTime generally refers to the time your system sends the FIX > message. TransactTime refers to the physical action of the FIX event. In > other words, your system may send a Fill execution report at 1:53:15 > (SendingTime) but the Fill execution time was actually at 1:53:14. This > kind of information is usually used for compliance reporting to indicate > when the actual fills, cancels, etc happened at an exchange or other > destination. > > Most systems are so fast these days that they are essentially identical > depending on the level of granularity specified. > > Dale Hinners Thanks Dale for the clarification. But i would like to add one more thing here that for GTC and GTD's i have seen different time stamps in these tags while sending Cancel/Replaces or Cancel Requests. 52 contained the current time and 60 had the time at which the original order was made. I just wanted to check that whether this is complaint to fix protocol. Thanks, HAMMAD MALIK MIXIT Inc [You can unsubscribe from this discussion group by sending a message to mailto:unsubscribe+100932...@fixprotocol.org] --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Financial Information eXchange" group. To post to this group, send email to fix-protocol@googlegroups.com To unsubscribe from this group, send email to fix-protocol+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/fix-protocol?hl=en -~----------~----~----~----~------~----~------~--~---
