[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/d601c5b1 - PLEASE DO NOT REPLY BY MAIL.]
I agree that NewOrderSingle is the right choice IF(!) you never need to specify leg information. Such leg information not always relates to the definition of the instrument but e.g. to clearing information. Examples are the position effect (564) of a leg or different clearing accounts (NestedPartyID group) to be used for each leg. These fields are part of LegOrdGrp but outside of InstrumentLeg group. The latter is to define a multileg instrument. Definitions like the side or ratio of a leg would not be in your NewOrderXXX message but be part of your SecurityDefinition messages and covered by the single SecurityID value. In the absence of SecurityDefinition messages, you would need NewOrderMultileg as the user then has to explicitly describe the instrument everytime he enters an order. For that he would use the InstrumentLeg group within LegOrdGrp. Regards, Hanno. > I think my message is a bit of a mess. Paragraphs are your friend. Too > bad there is no edit option on this fine message board ;) > > Let's say you are going to build a trading platform. The instruments > will be equity calendar spreads. There will be 6 stocks and for each > stock there will be 8 different spreads offered. > > Now I have 48 instruments, each of which represents a multileg strategy. > But I'm going to return to the participants in my market a list of > securities like this aapl_buy_jan200_call_sell_dec200_call, etc. > > So my question is, when I ask participants to place orders in my market, > should they send a NewOrderSingle or a NewOrderMultileg? > > Thanks! [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.
