International Trading
When placing a Day Order (TimeInForce = 0 or is blank), AutEx strongly recommends that you identify the market exchange within the message to ensure that its "time to live" does not expire prematurely.
Options:
- Adjust TimeInForce value to impose Multi-Day Order status on the order.
- In tag 55, use the ATR symbol, which identifies the security and specific market exchange. If using a different symbol standard be sure to include the exchange extension along with the local ticker.
- In conjunction with ISIN, SEDOL, or CUSIP value in tag 55, use tags 22 (IDSource), 48 (SecurityID) and 207 (SecurityExchange) to identify the specific market exchange for the security.
Example: Scenario causing incorrect assignment of End of Day for Day Order
| Events | System Processing |
| Order to be placed for ADELAIDE BRIGHTON on Australia SE. | |
| FIX message transmitted using local ticker 55 = ABC. | AutEx validates symbol as US traded security ABC, assigns US End of Day to order and passes message to recipient. |
| Trading in US has ended for the day. | AutEx expires message before fill. |
| Execution Reports sent. | Execution Reports rejected. |
- FIX message transmitted using local ticker 55 = ABC.
- AutEx validates symbol as US traded security ABC, assigns US End of Day to order and passes message to recipient.
Example: Scenario ensuring correct assignment of End of Day
| Events | System Processing |
| Order to be placed for ADELAIDE BRIGHTON on Australian SE. | |
| FIX message transmitted using ATR symbol for 55 = ABC-AU. | AutEx validates symbol and exchange, assigns AU business region to order and passes message to recipient. |
| Execution Reports Sent. | Execution Reports accepted. |
| Order filled. | |
| Trading in Australia has ended for the day. | AutEx expires message at 8 PM local AU time. |
Additional Information
Refer to the section on "Order Expiration Processing" in the Thomson Order Routing Service Client Guide for a detailed description of the rules-based methodology used to determine the "time to live" on a Day Order.
Policies on the Thomson Order Routing Testing Environment
Thomson provides a test environment, to both current and prospective clients, for establishing a connection to our FIX Order Routing platform. Clients may establish FIX connections with the test server in order to ensure compliant and error-free sessions. There is a free service with no direct cost to the client.
Testing Sessions
Client may use testing sessions to:
- Conduct certification testing with Thomson Order Routing.
- Carry out end-to-end testing with Order Routing counterparties.
- Perform troubleshooting when production problems are encountered.
The test environment is not intended or permitted to be used for:
- The transmission of production messages, or
- Performance testing except by prior arrangement.
Availability
The test environment is made available to clients from 22:00hrs GMT on Sundays to 00:00hrs GMT on Fridays with the exception of Wednesdays between 17:00 hrs GMT to 00:00hrs GMT when the environment may be down for maintenance or upgrades and during normal End of Day processing.
Production Policies
Although this is a test environment, normal ‘production’ rules still apply as follows:
- All sessions are required to run an End of Day session. The EOD for the test environment runs at 22:00hrs GMT. Sessions should disconnect at least 15 minutes beforehand and only reconnect 15 minutes after this time.
- Where sequence numbers need to be resynchronized, the lowest number must be increased or reset completely.
Additional Recommendations and Policies
- It is strongly recommended that all sessions connect to the Thomson Order Routing Hub, in order to facilitate easier connectivity and support.
- Sessions that repeatedly do not reconnect correctly after the test environment has been reset each day or regularly exhibit other problems will be disconnected and removed from the environment.
- To ensure that the number of sessions configured on the test environment do not exceed that which can be reliably supported, those sessions that have logged no activity for a one month period will be removed.
- When required, removed sessions may quickly be recreated by contacting the appropriate FIX connectivity team.
Client Support
The normal Thomson Order Routing customer support facilities are available to assist with test environment queries or issues. Where the assistance of a Thomson test engineer is required, the engineer will be available during normal business hours in the relevant business region. It is requested that the assistance of an engineer be scheduled in advance.
Specific questions regarding the use of the Thomson Order Routing Test Environment should be addressed to your regional team:
