ZIP file includes 7 volumes and Release Notes.
Incorporates proposed changes from the BMA/FPL (Bond Market Association/FIX Protocol Limited) Global Fixed Income committee’s Gap Analysis.
Major changes in FIX 4.4 include:
- Added/enhanced support for US Treasuries, Agencies, Municipals, TBA Mortgages, Corporates, Commercial Paper, Repurchase Agreements and Security Lending transactions as well as their European counterparts.
- Quoting messages enhanced to support FI negotiation process.
- Minor enhancements to single and muli-leg orders.
- Developed an Allocation model supporting 2-party Fixed Income trading and enhanced Allocation and Trade Capture Report messaging to support 3rd party FI reporting.
Incorporates proposed changes from the FIA (Futures Industry Association) and FPL Global Derivatives committee:
- Enhanced Allocation messaging to support street-side listed futures and options requirements (i.e. Clearing Firms). Added new messages to support “allocation claim” or response.
- Enhanced Trade Capture Report messaging to support block trade and exchange for physical (off floor) trade reporting for listed futures and options markets.
- Added new messages to support Position Maintenance.
- Added new messages to support Assignment Reporting.
Significant enhancements and general overhaul to the Allocation and Settlement Instructions messaging section in Volume 5:
- Eliminated bi-directional flow of Allocation and AllocationAck message by introducing Allocation Instruction, Allocation Instruction Ack, Allocation Report and Allocation Report Ack messages.
- Removed “implicit” support of confirm from allocation message set to supporting explicit confirmation and affirmation flow via new Confirmation and Confirmation Ack messages.
- Improved “ready-to-book” messaging using the allocation message set.
- Improved support for standing Settlement Instructions adding an explicit Settlement Instructions Request message as well as overhauling the contents of the Settlement Instructions message.
- Improved support for the concept of “warehousing” which is applicable to certain markets.
- Overall enhancements to Trade Capture Report messaging.
- Overall enhancements to multi-leg instrument support.
The Errata contains a list of minor adjustments to the FIX 4.4 Specification document due to typographical errors or ambiguities. The nature and scope of these adjustments do not introduce new functionality or new messages. Unlike previous errata for previous releases of FIX, new fields were introduced to address specific omissions that resulted in preventing usage of messages. All of the items specified in this document are considered part of the standard FIX 4.4 release. The list of items has been reviewed and approved by the FIX Global Technical Committee (GTC). This FIX 4.4 Errata 20030618 is considered the current version of the FIX 4.4 specification. The quality of the specification was greatly improved by the use of GTC developed validation tools to detect specification errors. This software will be expanded and become a standard part of the FIX specification maintenance process.
Implementers of FIX version 4.4 should base their implementations on this errata release, referring to the FIX 4.4 Specification document with Errata 20030618 to ensure the most consistent implementation and clearest understanding of the FIX protocol.