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FIX Adapter Reference

Account Defaults: Order Matching and Routing Examples

About the examples

This section presents the following examples that help illustrate how TT FIX Adapter matches incoming order requests from FIX clients to Account Defaults and how it affects the orders TT FIX Adapter sends to the TT Gateways:

  • Example 1 shows a typical order that matches the key values of an Account Defaults entry.
  • Example 2 illustrates what happens when an order does not match any Account Defaults entry and does not provide information required by a TT Gateway.
  • Example 3 shows an order that matches an Account Defaults entry with wildcards as key values.
  • Example 4 uses an order that overrides the default values for a matching Account Defaults entry.
  • Example 5 shows what happens when an order tries to override the default values for a matching Account Defaults entry when TT FIX Adapter locks the Account Defaults.
  • Example 6 uses an order that complies with the default values for a matching Account Defaults entry when TT FIX Adapter locks the Account Defaults.

Each example shows the contents of the incoming FIX message, the configured Account Defaults, and the resulting TT order. The examples also assume that TT FIX Adapter connects to one flavor of a TT CME Gateway, namely CME-A.

Example 1: order matches an Account Defaults entry

This example shows what happens when a FIX client submits an order request that matches one of the configured Account Defaults. In this example, a TT User Setup administrator configures the following Account Defaults entries for a user and disables Restrict user from overriding Account Defaults.

Account

Market

Gateway

Prod Type

Acct Type

Give-Up

FFT2

FFT3

123

CME

*

FUTURE

A3

123

CME

*

*

A2

*

*

*

*

A1

The following table shows an incoming FIX message, which Account Defaults entry TT FIX Adapter selects, and the resulting TT order it sends to the TT Gateway.

FIX Message Tags

Account Defaults

TT Order

1 (Account)

123

Account

123

123

207 (SecurityExchange)

CME

Market

CME

CME-A

167 (SecurityType)

SPREAD

Product Type

*

SPREAD

47 (Rule80A)

Account Type

A2

A2

204 (CustomerOrFirm)

18205 (TTAccountType)

440 (ClearingAccount)

Give-Up Member

16102 (FFT2)

FFT2

16103 (FFT3)

FFT3

Example 2: order matches no Account Default entry and omits information required by the TT Gateway

This example shows what happens when a FIX client submits an order request that matches none of the Account Defaults TT User Setup defines for the user. The order also omits the Account Type information, which the TT CME Gateway requires in all order requests. In this example, a TT User Setup administrator configures the following Account Defaults entries for a user and disables Restrict user from overriding Account Defaults.

Account

Market

Gateway

Prod Type

Acct Type

Give-Up

FFT2

FFT3

123

CME

*

FUTURE

A3

The following table shows an incoming FIX message, which Account Defaults TT FIX Adapter selects, and the resulting TT order it sends to the TT Gateway.

FIX Message Tags

Account Defaults

TT Order

1 (Account)

789

Account

789

207 (SecurityExchange)

CME

Market

CME-A

167 (SecurityType)

FUTURE

Product Type

FUTURE

47 (Rule80A)

Account Type

204 (CustomerOrFirm)

18205 (TTAccountType)

440 (ClearingAccount)

Give-Up Member

16102 (FFT2)

FFT2

16103 (FFT3)

FFT3

In this example, TT FIX Adapter submits a TT order to the TT CME Gateway with the information included in the FIX message only, because the order did not match any Account Defaults. The CME exchange happens to require an Account Type for all submitted orders. Because the TT order does not contain an Account Type, the TT CME Gateway rejects the order.

Example 3: order matches Account Defaults with wildcard keys

This example shows what happens when a FIX client submits an order request that matches one Account Defaults entry with the wildcard (*) in every key. In this example, a TT User Setup administrator configures the following Account Defaults entries for a user and disables Restrict user from overriding Account Defaults.

Account

Market

Gateway

Prod Type

Acct Type

Give-Up

FFT2

FFT3

*

*

*

*

A1

The following table shows an incoming FIX message, which Account Defaults TT FIX Adapter selects, and the resulting TT order it sends to the TT Gateway.

FIX Message Tags

Account Defaults

TT Order

1 (Account)

123

Account

*

123

207 (SecurityExchange)

CME

Market

*

CME-A

167 (SecurityType)

FUTURE

Product Type

*

FUTURE

47 (Rule80A)

Account Type

A1

A1

204 (CustomerOrFirm)

18205 (TTAccountType)

440 (ClearingAccount)

Give-Up Member

16102 (FFT2)

FFT2

16103 (FFT3)

FFT3

Example 4: order overrides default value for unlocked Account Defaults

This example shows what happens when a FIX client submits an order request that matches one of the Account Defaults configured in TT User Setup. It also overrides one of the default values (Acct Type) in the entry. In this example, a TT User Setup administrator configures the following Account Defaults entries for a user and disables Restrict user from overriding Account Defaults.

Account

Market

Gateway

Prod Type

Acct Type

Give-Up

FFT2

FFT3

123

CME

*

*

A2

123

*

*

*

A1

The following table shows an incoming FIX message, which Account Defaults TT FIX Adapter selects, and the resulting TT order it sends to the TT Gateway.

FIX Message Tags

Account Defaults

TT Order

1 (Account)

123

Account

123

123

207 (SecurityExchange)

CME

Market

CME

CME-A

167 (SecurityType)

FUTURE

Product Type

FUTURE

FUTURE

47 (Rule80A)

Account Type

A2

M1

204 (CustomerOrFirm)

18205 (TTAccountType)

M1

440 (ClearingAccount)

Give-Up Member

16102 (FFT2)

789

FFT2

789

16103 (FFT3)

FFT3

Because the FIX session does not lock the Account Defaults, TT FIX Adapter sends the value of Tag 18205 (TTAccountType) in the TT order Account Type field.

Example 5: order overrides a default value for locked Account Defaults

This example shows what happens when a FIX client submits an order request that tries to override a default value of a FIX session with locked Account Defaults. This example provides a value in Tag 18205 (TTAccountType) that differs from the Account Type in the matching Account Defaults entry. In this example, a TT User Setup administrator configures the following Account Defaults entries for a user and enables Restrict user from overriding Account Defaults.

Account

Market

Gateway

Prod Type

Acct Type

Give-Up

FFT2

FFT3

123

CME

*

FUTURE

A2

*

*

*

*

A1

The following table shows an incoming FIX message, which Account Defaults TT FIX Adapter selects, and the resulting TT order it sends to the TT Gateway.

FIX Message Tags

Account Defaults

TT Order

1 (Account)

123

Account

123

123

207 (SecurityExchange)

CME

Market

CME

CME-A

167 (SecurityType)

FUTURE

Product Type

*

FUTURE

47 (Rule80A)

Account Type

A2

ERROR

204 (CustomerOrFirm)

18205 (TTAccountType)

M1

440 (ClearingAccount)

Give-Up Member

16102 (FFT2)

FFT2

16103 (FFT3)

FFT3

The FIX session in this example locks the Account Defaults, so FIX clients are not permitted to override. The incoming FIX message supplies “M1” in Tag 18205 (TTAccountType), which differs from the default “A2” value for the Account Type. Consequently, TT FIX Adapter rejects the order directly, without sending it to the TT Gateway.

Example 6: order matches default value for locked Account Defaults

This example shows what happens when a FIX client submits an order request that complies with a default value of a FIX session with locked Account Defaults. This example provides a value in Tag 18205 (TTAccountType) that matches the Account Type in the matching Account Defaults entry. In this example, a TT User Setup administrator configures the following Account Defaults entries for a user and enables Restrict user from overriding Account Defaults.

Account

Market

Gateway

Prod Type

Acct Type

Give-Up

FFT2

FFT3

123

CME

*

FUTURE

A2

*

*

*

*

A1

The following table shows an incoming FIX message, which Account Defaults TT FIX Adapter selects, and the resulting TT order it sends to the TT Gateway.

FIX Message Tags

Account Defaults

TT Order

1 (Account)

123

Account

123

123

207 (SecurityExchange)

CME

Market

CME

CME-A

167 (SecurityType)

FUTURE

Product Type

FUTURE

FUTURE

47 (Rule80A)

Account Type

A2

A2

204 (CustomerOrFirm)

18205 (TTAccountType)

A2

440 (ClearingAccount)

Give-Up Member

16102 (FFT2)

FFT2

16103 (FFT3)

FFT3

The TT FIX Adapter in this example also locks the Account Defaults for the FIX session. However, the value of Tag 18205 (TTAccountType) matches the default value for the Account Type. Therefore, TT FIX Adapter routes the corresponding TT order to the TT Gateway.