Recommended Practices

DRAFT - Recommended Practices: Hong Kong SFC Facilitation Trade Consent 993.74 KB 126 downloads

UPDATED DRAFT, August 30, 2019: Recommended Practices, produced by the Asia Pacific Exchanges & Regulatory and Technical Subcommittees to address requirements by the HK SFC which requires prior consent from clients before facilitation trades could be executed by Hong Kong licensed firms.

Create date: May 13, 2019

Recommended Practices for the use of FIX by Exchanges Phase 1 860.54 KB 1630 downloads

Provides recommendations for best practices for the usage of FIX by exchanges and ECNs.

Create date: January 25, 2007

FIX Execution Venue Reporting Best Practice Guidelines 439.75 KB 1089 downloads

Defines the usage expectations for the FIX fields that describe the final destination point of an execution, the capacity of the broker for that execution and the nature of liquidity (added or taken) for that trade.

 

Create date: August 1, 2015

Shanghai/Hong Kong Connect: ASIFMA & FIX Trading Community Implementation Guide 513.94 KB 455 downloads

Shanghai-Hong Kong Stock Connect, also known as Mutual Market Access or the "through train", is a pilot programme that signals the continuation of Mainland China's capital markets' opening to direct overseas investment.  This document is an accurate initial representation of the majority of the participants' expected workflows, both upstream and downstream of their order flow.

Create date: April 10, 2015

Recommended Practices for Party Entitlements - OTC Markets - Swaps 4.10 MB 336 downloads

Defines a standard set of guidelines based on Party Reference Data messages for exchanging enablement information for trading Fixed Income OTC instruments.

Create date: August 14, 2013

Recommended Practices for Party Entitlement: OTC Markets - Fixed Income Instruments 1.63 MB 308 downloads

Provides detailed guidelines for the implementation of party entitlement messages for Fixed Income OTC electronic markets.

Create date: November 5, 2013

Best Practices for Swaps (Phase 3) 7.65 MB 268 downloads

Support for the following workflows has been included as part of Phase 3 of the swaps best practices: recommendations to support the new regulations for SEFs; mid-market mark, US vs. non-US person, block trades, required vs. permitted transactions, etc., guidance on how to send tiered prices i.e. different prices for the same instrument to multiple customers, guidance on sending 'Axes' to indicate if you are a better buyer or seller, guidance on how to run auctions and how to support workups, support for stop orders, iceberg orders and peg orders and messaging from the execution venue to the dealer to confirm if a trade has been cleared.

Create date: May 8, 2014

Best Practices for Bonds - Pre-Trade Indications 185.72 KB 437 downloads

Defines a standard for the transmission of Indications - Axes Inventories and Runs.

Create date: December 1, 2014

Best Practices for Bonds 9.66 MB 646 downloads

Focuses on best practices for the cash bond markets, covering the vast majority of electronically traded bonds, including G8 Government bonds, High Yield, Corporates, Supras/Agencies.

Create date: January 21, 2015

Recommended Practices for Party Entitlements - FX OTC Markets 2.37 MB 484 downloads

Defines a standard set of guidelines based on Party Reference Data messages for exchanging enablement information for trading both Foreign Exchange as well as Fixed Income OTC instruments.

Create date: April 30, 2014

IPO Recommended Practices/Guidelines 396.55 KB 324 downloads

Creates a practice that would bring the new issue order placing process in line with the same procedure used for secondary market orders and trade fills.

Create date: January 28, 2015

FPL Recommended Standards for the Consolidation of Trade Reports and Market Data in Europe 727.60 KB 374 downloads

This document details the recommended standards for the consolidation of trade reports and market data for European equity markets. These industry-driven recommendations mark an important milestone in the development of a European Consolidated Tape. The recommendations provide guidance, explaining how trade reports could be published in a standard manner to enable data to be more easily consolidated, significantly enhancing transparency and quality of data.

Published: November 2012

Create date: February 6, 2017

Broker Allege and Asset Manager Confirm Request via FIX - Recommended Practices 423.14 KB 365 downloads

This document defines industry practices for common usage of the FIX protocol for post-trade processing, for all asset classes, between buy-sides and sell-sides that can be use bi-laterally as well as through intermediary facilities.

Create date: February 1, 2018

Common Framework via FIX - Recommended Practices 1.02 MB 587 downloads

Describes the common framework for cross-asset buy-side to sell-side workflow for post-trade processing.  Note that pre-trade allocation is within the scope of post-trade processing.

Create date: March 11, 2016

Equity Allocations Via FIX - Recommended Guidelines FIX 42-44 Examples and Notes 1.18 MB 495 downloads

Contains examples associated with Equity Post-trade Processing via FIX, Guidelines, FIX 4.2, 4.4-V1.2.

Create date: May 4, 2015

Equity Allocations Via FIX - Recommended Guidelines v1.2.8 1.68 MB 432 downloads

Defines industry guidelines for a common usage of the FIX Protocol for post-trade processing between buy-sides and sell-sides that can be used bi-laterally as well as through intermediary facilities.
UPDATE: 20171003 - Includes MiFID II recommended practices for post-trade commission unbundling and representation of commission types.

Create date: April 27, 2015

Equity Options via FIX - Recommended Practices 549.65 KB 215 downloads

Defines industry practices for usage of the FIX standard to facilitate parallel implementation across buys-sides, sell-sides and intermediaries. v1.0

Create date: January 30, 2018

Equity Swaps via FIX - Recommended Practices 1.46 MB 477 downloads

Addresses the two primary post-trade workflow types or equity swaps between the buy-side and the broker-dealer and swap providers.  The workflows include 1) Hedge-leg style 2) Swap style.

Create date: April 12, 2016

Futures via FIX - Recommended Practices 1.47 MB 630 downloads

Addresses the post-trade workflow for futures and options on futures via FIX.

Create date: February 8, 2016

FX via FIX - Recommended Practices 1.94 MB 1444 downloads

Addresses the FIX Protocol for FX Placement, Allocation, and Confirmation/Affirmation workflows.

Updated: 20190207 (v0.08)

Create date: May 28, 2016

Post Post-trade Confirmation Payments Recommended Practices 1.37 MB 28 downloads

Document defines industry practices for common usage of the FIX Protocol for post-trade processing for all asset classes, between buy-side and sell-side that can be use bi-laterally as well as through intermediary facilities.

Create date: August 14, 2019

Qualified Vendor via FIX - Recommended Practices 777.79 KB 233 downloads

Includes the FIX Recommended Practices for interfacing with DTC Qualified Vendors.

Create date: May 19, 2016

SEF_FX_FI via FIX - Recommended Practices 1.39 MB 257 downloads

Focuses on the buy-side to sell-side workflow for trades executed on a SEF utilizing a pre-trade allocation workflow as opposed to "bunched" trades.

Create date: May 5, 2015

Recommended Practices for Continuous Mass Quoting v1 190.31 KB 275 downloads

Aims to be a guide to implementing the Mass Quotation function for equities, listed derivatives, foreign exchange and fixed income transactions using version 5.0 SP1 of the FIX protocol.

 

Create date: July 10, 2007

Recommended Risk Control Guidelines (2012) 306.50 KB 378 downloads

Provides information around risk management and encourage firms to incorporate best practices in support of their electronic trading platforms.

Create date: January 1, 2012

TCA Best Practices for Equities_including IA comments 1.03 MB 386 downloads

Further refines ongoing TCA requirements across asset classes. The common goal is to provide the industry with specific guidelines to promote TCA standardization.

Create date: January 20, 2017

TCA Best Practices for Equities 1.04 MB 755 downloads

Develops industry-wide terminology and methodology for Equities, from pre-trade to post-trade analytics.

Create date: January 21, 2014