[This message was posted by Lisa Taikitsadaporn of Brook Path Partners, Inc. <[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/d9a6b495 - PLEASE DO NOT REPLY BY MAIL.]
Robert, here's the link with the proposal template: http://www.fixprotocol.org/documents/2341/FIX%20Protocol%20Gap%20Analysis%20Proposal%20Template.zip Please get in touch with me offline regarding the process. > Thanks Lisa. Is there a link you can send me that would help me > understand the expected format of such a proposal and the mechanics of > getting it in front of the GFIC? > > > Now you're talking. If you can give us a list of the FIX message where > > you feel FinancingDetails should be added because it is not there, we > > would consider it. The process would be for you to submit a proposal > > for this to be added to the messages and why (e.g. illustrate the > > business requirements or the business you're trying to support) to the > > Global Fixed Income Committee since Repos fall under their purview. > > > > At the time FinancingDetails was created it was part of an initiative > > that focused only on trading, thus the reason this component is not in > > the market data and security definition messages. There was no > > requirement for it back in 2003 when this component block was added to > > the specification. > > > > > I guess you are referring to Quote and IOI. But those are > > > conceptually very different from SecurityDefinitionRequest and > > > MarketDataRequest. If and when REPO markets go to an exchange model > > > aren't you going to have to be able to quote GC REPOs of different > > > tenors? How can you do that if you can't specify the > > > FinancingDetails in the Instrument? > > > > > > > When this was designed we do not feel any of the fields in the > > > > FinancialDetails component should be part of the core Instrument > > > > block. That said, FinancingDetails component exists in a lot of > > > > different messages already where Instrument component also exists. > > > > Nothing prevents you from using the fields in FinancingDetails in > > > > conjunction with the Instrument block to define your > > > > "standardized" repo. > > > > > > > > Like I said in my earlier reply, if you find you need the > > > > FinancingDetails block in a message where it doesn't exist let us > > > > know and we will consider adding it. > > > > > > > > > So, does anyone know why FinancingDetails shouldn't be part of > > > > > the Instrument? We have all the fields that allow one to specify > > > > > an Instrument as a REPO, Product (460), SecurityType (167), > > > > > SecuritySubType > > > > > (762), but there is no way to indicate the TerminationType (788) > > > > > or the Start and End Dates (916, 917) or the other fields > > > > > of <FinancingDetails>. > > > > > > > > > > > > > > > > Exactly, I want to be able to accept orders and provide market > > > > > > data quote updates on a standard overnight gcf repo. > > > > > > > > > > > > > The FinancingDetails component block is a separate component > > > > > > > block from the Instrument component block. The > > > > > > > FinancingDetails component block is in many messages > > > > > > > including IOI, Order messages, Quote messages, TradeCapture > > > > > > > messages. > > > > > > > > > > > > > > Which messages are you looking to use? By "standardize a > > > > > > > financing arrangement" are you looking to defined a > > > > > > > "standardized" repo to be traded? > > > > > > > > > > > > > > > I'd like to be able to offer clients a standard ON REPO. > > > > > > > > The problem I'm running into is the lack of a > > > > > > > > FinancingDetails block in the Instrument definition. > > > > > > > > > > > > > > > > FinancingDetails is associated only with IOIs and > > > > > > > > NewOrder... messages. Is there any way in the existing > > > > > > > > specification to standardize a financing arrangement as an > > > > > > > > Instrument? [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.
