Mostly… fixed income and cross product eTrading

July 18, 2007

wherefore art though, execution venue?

Filed under: FIX, Mifid, Nuts and Bolts — holky @ 11:46 am

what is the industry consensus on how “execution venue” will be conveyed in mifid-ready FIX orderflow?  there are many users of old FIX versions (seems mostly 4.2) who just want to know which field will contain what and when.

is FPL going to use mifid as a stick to beat the non-upgrading FIX users?  giving all an ‘upgrade to 5.0 to get your mifid extensions and more OR ELSE!!!’   ….. or (rather less dramatically) have i just missed/not found a general consensus yet?



  1. 100: ExDestination ???

    Comment by John Greenan — July 20, 2007 @ 6:47 am

  2. also heard that tag 30 and also 9292 are in the frame.

    Comment by holky — July 20, 2007 @ 3:19 pm

  3. My understanding is that the buy side wont really require the execution venue as the sell side is the one responsible for doing the reporting?

    I’m hearing some discussion on RSP quoting trades that there is a driver for adding execution venue onto executions for CREST reporting. The discussion about the use of 30 v’s 9292 I’ve heard is I think motivated by a desire by the buy side to avoid mapping the reuters code in tag 30 to a MIC code for CREST reporting So they are asking for the MIC in 9292. Anyone know any different? I can’t see this is that strong an argument as it requires changes to FIX gateways…

    Comments appreciated.

    Comment by Garry Ryan — August 2, 2007 @ 5:22 pm

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