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Fwd: [TC Comment List] Comments from FIX Trading Community for CTS 1.0 WD26

  • 1.  Fwd: [TC Comment List] Comments from FIX Trading Community for CTS 1.0 WD26

    Posted 07-21-2024 19:39
      |   view attached
    Dear TC Members:

    Please see the following comments that were sent to the main OASIS TC Comments Mailing list. 

    ---------- Forwarded message ---------
    From: Hanno Klein <hanno.klein@fixtrading.org>
    Date: Fri, Jul 19, 2024 at 8:09 AM
    Subject: [TC Comment List] Comments from FIX Trading Community for CTS 1.0 WD26
    To: Technical-Committee-Comments@oasis-open.org <Technical-Committee-Comments@oasis-open.org>
    Cc: Jim Kaye <jim.kaye@fixtrading.org>, jim <jim@fintechstandards.net>, Jim Hunt <jim@v2g-evse.com>


    Dear OASIS TC members,

     

    Please find attached some comments and changetracked edits for CTS V1.0 wd26. As requested, the focus was on Negotiations (Section 9) and Market Mechanisms (Table 13-1 (MMT) and Appendix B).

     

    A key finding is that the description of the negotiation workflows is currently not consistent, and a number of comments/edits are made to identify them. The CTS workflow aligned with FIX is RFQ->Quote->Quote Response->Transaction, whereby "Quote->Quote Response" may be repeated many times until the negotiation is either ended by either side or an acceptable quote has been provided.

     

    A minor finding is the use of similar terms without an obvious need to make a distinction. The first one is "Tradeable" and "Actionable" and the second one is "Advertisement" and "Publication". In the first case, FIX does not use the term "Actionable" and in the second case, the term "Advertisement" is used by FIX only in a very specific context, i.e. the publication of completed trades. The proposal is to review the use of these terms and replace them with "Tradeable" and "Publication", if acceptable to you.

     

    Regards,

    Hanno.

     

    Hanno Klein
    Technical Director

     

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    Attachment(s)

    docx
    ei-cts-v1.0-wd26-d_changetracked_FIX.docx   5.02 MB 1 version


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