[This message was posted by Jim Northey of The LaSalle Technology Group <[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/2513500e - PLEASE DO NOT REPLY BY MAIL.]
I am not sure where this leaves us. Do FX Forwards require identification of the cutoff to establish the settlement price? If so, do we need to use the planned Cutoff fields for FX Forwards? > For ON trades there are cut off times for payments being made - these > are currency specific e.g. AUD is much earlier than CAD. The FX FIX spec > does not delve into the depths of cash payments. This is a different > concept from TK/NY cuts which are options expiry times. > > Regards, Jay > > > Thank you, Jim. I appreciate it. > > > > > Robert - I will look into this a little bit. Hopefully someone else > > > from the GFXC Tech Subcommittee can provide a comment. > > > > > > > I am by no means expert, but for an ON TN or SN trade isn't it > > > > important to identify the cutoff time? From vol. 7 they seem to > > > > just assume NY cutoff. > > > > > > > > > > > > > Is cutoff required for FX Forwards? You can check volume 7 of > > > > > the latest FIX specification for usage for FX Forwards. > > > > > > > > > > We are proposing some enhancements to address cutoff for OTC FX > > > > > options > > > > > - the initial proposal was presented to the GFXC Tech > > > > > subcommittee a couple of weeks ago. We are proposing a > > > > > CutoffZone (with code list to be maintained by FPL) and a > > > > > Cutoff Time (HH:MM:SS). > > > > > > > > > > > Hi All, > > > > > > > > > > > > Sorry for the newbie question, but where does one specific NY > > > > > > or Tokyo Cutoff in specifying an FX Forward? > > > > > > > > > > > > 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.
