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Discussions > Regulations > fix value for OSI Series Key

fix value for OSI Series Key

Complete message thread from old site

Tom Roedel
1762 days ago,(2009/06/23)

does anyone know what the fix value will be for tag 22 for the OSI Series key?

Greg Malatestinic
1761 days ago,(2009/06/23)

There will not be an enumerated value for the OSI option symbol for use in tag 22. As of OSI (Feb 12) all options should be identified by the 4 tags: Symbol(55), MaturityMonthYear(200), PutOrCall(201) and StrikePrice(202). Please note that Symbol(55) should contain the root option symbol which may be different than the underlying symbol. Tags 22 and 48 are optional and will most likeley be ignored by your counterparty. If you must use tags 22 and 48 for some reason, I would set tag 22='8' to indicate exchange symbol and tag 48=the underlying equity symbol. But as always, you should check with your counterparties.

-Greg

Greg Malatestinic
1761 days ago,(2009/06/23)

And of course MaturityDay(205) will also be required to identify the option. Provided you are using FIX 4.2.

If you are using 4.4 then you would append the maturity day to MaturityMonthYear giving it the format "YYYYMMDD" and not populate tag 205.

-Greg

> There will not be an enumerated value for the OSI option symbol for use
> in tag 22. As of OSI (Feb 12) all options should be identified by the 4
> tags: Symbol(55), MaturityMonthYear(200), PutOrCall(201) and
> StrikePrice(202). Please note that Symbol(55) should contain the root
> option symbol which may be different than the underlying symbol. Tags 22
> and 48 are optional and will most likeley be ignored by your
> counterparty. If you must use tags 22 and 48 for some reason, I would
> set tag 22='8' to indicate exchange symbol and tag 48=the underlying
> equity symbol. But as always, you should check with your counterparties.
>
> -Greg

Jim Northey
1761 days ago,(2009/06/23)

Tayloe Draughon, GDC Co-chair had us prepare this document to assist hte industry: http://fixprotocol.org/documents/4213/FIXImplementationGuide_USOptionsSymbology_v1.pdf

Regarding using 48 for the underlying security symbol - I have not seen that used widely for US listed derivatives markets.

> And of course MaturityDay(205) will also be required to identify the
> option. Provided you are using FIX 4.2.
>
> If you are using 4.4 then you would append the maturity day to
> MaturityMonthYear giving it the format "YYYYMMDD" and not
> populate tag 205.
>
> -Greg
>
> > There will not be an enumerated value for the OSI option symbol for
> > use in tag 22. As of OSI (Feb 12) all options should be identified by
> > the 4 tags: Symbol(55), MaturityMonthYear(200), PutOrCall(201) and
> > StrikePrice(202). Please note that Symbol(55) should contain the root
> > option symbol which may be different than the underlying symbol. Tags
> > 22 and 48 are optional and will most likeley be ignored by your
> > counterparty. If you must use tags 22 and 48 for some reason, I would
> > set tag 22='8' to indicate exchange symbol and tag 48=the underlying
> > equity symbol. But as always, you should check with your
> > counterparties.
> >
> > -Greg

Tom Roedel
1761 days ago,(2009/06/23)

thanks all, we can work around this but I do feel this is not ideal. One of the main wins with OSI (at least I feel) is that everyone will now have a unique identifier to communicate with. if each company/app needs to derive it on the fly, the room for error and maintenane is great. I personally think its better to simply pass the full value in tag 44 and specific it in tag 22

> Tayloe Draughon, GDC Co-chair had us prepare this document to assist hte
> industry: http://fixprotocol.org/documents/4213/FIXImplementationGuide_-
> USOptionsSymbology_v1.pdf
>
> Regarding using 48 for the underlying security symbol - I have not seen
> that used widely for US listed derivatives markets.
>
> > And of course MaturityDay(205) will also be required to identify the
> > option. Provided you are using FIX 4.2.
> >
> > If you are using 4.4 then you would append the maturity day to
> > MaturityMonthYear giving it the format "YYYYMMDD" and not populate
> > tag 205.
> >
> > -Greg
> >
> > > There will not be an enumerated value for the OSI option symbol for
> > > use in tag 22. As of OSI (Feb 12) all options should be identified
> > > by the 4 tags: Symbol(55), MaturityMonthYear(200), PutOrCall(201)
> > > and StrikePrice(202). Please note that Symbol(55) should contain the
> > > root option symbol which may be different than the underlying
> > > symbol. Tags 22 and 48 are optional and will most likeley be ignored
> > > by your counterparty. If you must use tags 22 and 48 for some
> > > reason, I would set tag 22='8' to indicate exchange symbol and tag
> > > 48=the underlying equity symbol. But as always, you should check
> > > with your counterparties.
> > >
> > > -Greg

Greg Malatestinic
1761 days ago,(2009/06/24)

You are right, Jim. My source for the tag 48 statement was from an out of date OSI document published by one of the options exchanges. I just checked with them and they say they will ignore tag 48.

-Greg

> Tayloe Draughon, GDC Co-chair had us prepare this document to assist hte
> industry: http://fixprotocol.org/documents/4213/FIXImplementationGuide_-
> USOptionsSymbology_v1.pdf
>
> Regarding using 48 for the underlying security symbol - I have not seen
> that used widely for US listed derivatives markets.
>
> > And of course MaturityDay(205) will also be required to identify the
> > option. Provided you are using FIX 4.2.
> >
> > If you are using 4.4 then you would append the maturity day to
> > MaturityMonthYear giving it the format "YYYYMMDD" and not populate
> > tag 205.
> >
> > -Greg
> >
> > > There will not be an enumerated value for the OSI option symbol for
> > > use in tag 22. As of OSI (Feb 12) all options should be identified
> > > by the 4 tags: Symbol(55), MaturityMonthYear(200), PutOrCall(201)
> > > and StrikePrice(202). Please note that Symbol(55) should contain the
> > > root option symbol which may be different than the underlying
> > > symbol. Tags 22 and 48 are optional and will most likeley be ignored
> > > by your counterparty. If you must use tags 22 and 48 for some
> > > reason, I would set tag 22='8' to indicate exchange symbol and tag
> > > 48=the underlying equity symbol. But as always, you should check
> > > with your counterparties.
> > >
> > > -Greg