Re: [Quickfix-users] [Quickfix-developers] Testing A Custom Initiator ... Suggestions Needed

[Grant B. <gbi...@co...>]

(Hayyan, please be aware that the default reply-to for list messages
does not go the list.)

Your point (1) is correct.  If your message is valid, the counterparty
should accept it and respond with an ExecutionReport message of some
sort.

For (2), nearly all counterparties that I have worked with have made
at least a few modifications to the DataDictionary.  So if your
counterparty says they're FIX 4.2, that probably means that they
started with FIX 4.2 and made changes from there.  They should have
documentation explaining what they expect from you and what you should
expect from them.

-Grant


On Wed, Jun 1, 2011 at 10:52 AM, Hayyan Rafiq <hay...@ho...> wrote:
> Hi Grant thanks for taking the time and effort to post such a great
> explanation.Really appreciate it. From your message I have made some side
> notes , let me know if these points are correct or not..
> 1) Fix is a simple messaging protocol , these messages are exchanged using
> TCP/IP Protocol. The client connects to a server using TCP/IP on which it
> needs to place orders , and if the client sends an order message (which is
> compatible with the server (suppose this is a exchange) ). The the server
> will accept the order
> Correct me if my above point is wrong.
>
> 2)
>  One more thing. when you mentioned
> "Every  counter party may require certain fields that others don't, or for
> fields to used in certain ways, or for custom fields to be added to
> messages."
> Question:
> suppose i am using FIX4.2 and some exchange is also FIX4.2 compliant. So i
> construct a standard message in FIX4.2 will I be able to send a compatible
> order message to that exchange .. ?? If not , then how could i make this
> possible (if different exchanges are FIX 4.2 compatible is it possible that
> each exchange may have different tags  to place the same kind of order
> successfully ????
>
> Please let me know if my question seems unclear .
> Looking forward to hearing for you and thanks again.. Really appreciate it.
> Regards
> Hayyan
>
> ===============================================================================================================
>> Date: Wed, 1 Jun 2011 09:54:20 -0500
>> Subject: Re: [Quickfix-developers] Testing A Custom Initiator ...
>> Suggestions Needed
>> From: gbi...@co...
>> To: hay...@ho...
>> CC: qui...@li...
>>
>> You are thinking about FIX in the wrong way.
>>
>> FIX is a protocol for transmitting messages. That's it. It doesn't
>> tell you how to send orders, or process orders, or receive market
>> data, though it does provide message types that can be used to do so.
>>
>> There is no one correct way to submit or accept an order. Every
>> counterparty may require certain fields that others don't, or for
>> fields to used in certain ways, or for custom fields to be added to
>> messages. The default FIX messages are a good baseline, but in
>> practice, all counterparties have made certain customizations that you
>> need to find out (from them) in order to trade on their systems.
>>
>> Thus, the trade client example should be looked at only as an example
>> of how to send and process messages. The order messages it sends out
>> probably won't work on most real-world counterparties. If you have a
>> specific counterparty in mind, you should check out their FIX
>> interface's documentation.
>>
>> -Grant
>>
>>
>>
>> On Wed, Jun 1, 2011 at 5:53 AM, Hayyan Rafiq <hay...@ho...> wrote:
>> > QuickFIX Documentation:
>> > http://www.quickfixengine.org/quickfix/doc/html/index.html
>> > QuickFIX Support: http://www.quickfixengine.org/services.html
>> >
>> >
>> > Hi , I recently started using quick fix and I would like to ask the
>> > experts out there a couple of questions. Please bare with me
>> > I recently created an acceptor application (Receives an order and sends
>> > an execution report back to the client), I was using the
>> > tradeclient example in the quick fix source as the initiator.
>> > Anyways....
>> >
>> > I just found out that the trade client example only allows us to place
>> > limit orders and does not support other order types
>> > (I really do wonder why ?? since other order options are also present )
>> > what i want to know is suppose that I upgrade and extend the tradeclient so
>> > it can also place orders like MARKET,STOP and STOP LIMIT is there any way by
>> > which i can test these new ORDER TYPES ? I mean are there any websites out
>> > there for testing purposes to see if my newly created client can place
>> > orders of types (MARKET,STOP and STOP LIMIT) and the website validates the
>> > orders informing me if the orders which i created are correct or incorrect
>> > t??
>> >
>> > My second question is exactly the opposite of above , I want to find out
>> > if there is an initiator(some thing like tradeclient) out there that could
>> > place all kind of orders. Since i am also developing an acceptor such a
>> > client would also come in handy.
>> >
>> > Your suggestions and comments would highly be appreciated..
>> >
>> >
>> >
>> >
>> >
>> >
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>