[This message was posted by John Greenan of http://www.alignment-systems.com <john.gree...@alignment-systems.com> to the "Algorithmic Trading" discussion forum at http://fixprotocol.org/discuss/31. You can reply to it on-line at http://fixprotocol.org/discuss/read/76eef9b9 - PLEASE DO NOT REPLY BY MAIL.]
> Zoltan, > Thanks for the feedback, and I appreciate the possible admin overhead. Just > to be clear, however, I am NOT proposing a register of algos, only a register > of algo providers. > Your point about use of the ISO standard for exchanges triggered a refinement > on the original suggestion - instead of creating a register, how about we > STRONGLY RECOMMEND that FIXatdl publishers include the first 4 characters of > their ISO 9362 (aka BIC) code as the providerID? > (Obvious question - do all global algo providers have a BIC code? My gut > feel is yes, but maybe others can comment.) > Thx - Steve. I don't think the four letter code will work.... http://www.swift.com/solutions/messaging/information_products/bic_and_bei/detailed_features.page? Quote from above "The first 4 characters of the BIC (BIC4) identify an organisation, or a group of affiliated organisations, globally. SWIFT must approve the requested BIC4. Requests for generic, confusing or misleading codes such as BANK or GIRO will be rejected. Once a BIC4 has been allocated to an organisation, SWIFT reserves that code for that organisation or group of affiliated organisations. Following a corporate restructuring, it may be necessary to identify and transfer the responsibility for an existing BIC to a new organisation. To limit the risk of confusion, the use of the transferred BIC must be limited in time (typically, 12 months) if the BIC4 of the transferred BIC continues to identify another organisation. https://www2.swift.com/uhbonline/books/public/en_uk/bic_policy/index.htm So - bear in mind that in many cases a single bank has different sets of algos per region. For Example "Megabank X" - 4 letter institution code "MEGA" has one set of algos for US business and one set for Asia-Pacific. The algos are different. One institution code will not provide enough granularity to make this work.... [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-proto...@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.
