Client Management Advisory Notice
From | Client Management Operations
Subject | Clarification Of New TREX Record/A4 Block Change For Operator Id -- Effective Monday, December 16, 2002.
Effective Date | 12/13/02
Notice Number | CMO#0320
IMPORTANT REMINDER�.Starting with the TREX messages you receive at 6:30 a.m. on Monday, December 16, 2003, we will begin populating the GLOBEX� FIX tag Operator Id in Positions 48-65 of the TREX confirm record�s A4 block. In response to firms� questions, this notice is being sent to clarify the distinction between this upcoming change and the change we made to the GLOBEX Trade Order Number (TON) field, earlier this year. Background For all orders that are routed to GLOBEX via a FIX or iLink pathway, a generic 3-byte FIX API firm id is reported in the Filling Broker Field of the TREX confirm record. Because this API firm id does not identify the specific source of the order, there have been several firm requests to provide additional data that is more specific to the source of the order or the Operator Id itself. EXAMPLE: Firm 123 submits an order to GLOBEX via iLink. Upon execution, firm 123 receives a TREX confirm record that shows the API firm id of �1B3� in the Filling Broker Field. (A corresponding alpha character replaces the second digit of the numeric firm number in GLOBEX.) If the TREX record contains an incorrect account number, with only a generic API firm id in the Filling Broker Field, the firms lack specific information necessary to troubleshoot the order�s source/origination. TON Field Solution To help resolve this issue, last February, we expanded the data in the TON Field (positions 122-129 of the main TREX block) from four to eight bytes. (Please refer to CM Notice# 0209). Previously, the TON Field was limited to a four-byte order number. The expected benefit from this change was that firms had an additional 4 bytes that would uniquely identify the source/origination of an order. To accomplish this, firms were required to have their GLOBEX users re-configure their workstations/Trader software so that a unique identifier would always default in the additional four bytes of the TON Field. Firms would then have an opportunity to interrogate their TREX confirm records for this information through their internal bookkeeping systems or through any externally-provided software or preferred query process. Since the TON change, it has been brought to our attention that few firms have taken advantage of this feature, due in part, to the amount of effort necessary to have their GLOBEX users reconfigure their workstations/Trader Software. New TREX A4 Block Operator Id Solution GLOBEX orders coming in though an API pathway must contain a unique Operator Id in the appropriate FIX tag (116 for FIX API routed orders, or 50 for iLink routed orders). Currently, the data in these tags do not flow through the GLOBEX host to the TREX confirm record. However, starting Monday, December 16, we will extract the FIX tag Operator Id (up to 18 bytes in length), and move it to Positions 48-65 of the TREX Record�s A4 block.. A major benefit of this new solution is that GLOBEX operators will not have to reconfigure their workstations/Trader Software (as the TON solution requires). They will simply log on to GLOBEX as they currently do, and enter their unique Operator Id in the appropriate FIX tag. Firms will be able to interrogate their TREX confirm records for this information via their bookkeeping systems or through any externally- provided software or query process. NOTE: The display of the Operator Id in ETP will not be immediately available. However, when it becomes available we will announce a date. If you have any questions concerning this change, please call Client Management�s General Number -- (312) 930-8159. Thank you!