Financial Data Telephone Substitution (Fix) Protocol Interview Questions Answers
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Judul : Financial Data Telephone Substitution (Fix) Protocol Interview Questions Answers
link : Financial Data Telephone Substitution (Fix) Protocol Interview Questions Answers
In Simple term Settlement way coin volition deducted from buyers as well as trouble concern human relationship as well as security(Shares) volition locomote credited to his trouble concern human relationship , ordinarily Settlement occurs after few days of merchandise engagement for most of the telephone substitution its T+3 (i.e. Three days later merchandise date) , T denotes Trade engagement way the engagement on which transaction has taken place.
For unopen to of the exchanges e.g. NSE India, SEHK Hongkong its T+2.
What is NewOrderSingle, OrderCancelReplance as well as OrderCancel Reject message?
These are the basic, most commonly used messages inwards Electronic trading via FINANCIAL INFORMATION EXCHANGE (FIX) protocol.
NewOrderSingle message is denoted past times MsgType=D as well as its used to house an Order, OrderCancelReplace Request is modification asking denoted past times MsgType=G inwards FINANCIAL INFORMATION EXCHANGE (FIX) protocol as well as used to modify Order e.g for changing quantity or cost of Order.
OrderCancelRequest is 3rd inwards this category denoted past times MsgType=F inwards FINANCIAL INFORMATION EXCHANGE (FIX) protocol as well as used to cancel Order placed into Market.
What are most common issues come across when 2 FIX Engine communicates ?
When Clients connect to broker via FINANCIAL INFORMATION EXCHANGE (FIX) protocol, at that spot FIX engine connects to each other, spell setting upwards as well as during farther communication many issues tin occur below are unopen to of most mutual ones:
Issues related to network connectivity
Issues related to Firewall rules
Issue related to wrong host/port cite spell connecting.
Incorrect SenderCompID as well as TargetCompID
Sequence Number mismatch
Issue related to FINANCIAL INFORMATION EXCHANGE (FIX) version mismatch
What produce yous hateful past times Incoming Sequence No as well as Outgoing Sequence No? Which tag is used to deport Sequence No?
Sequence Number is real of import concept of FINANCIAL INFORMATION EXCHANGE (FIX) protocol which essentially provides it Recovery as well as replay functionality as well as ensures that no message volition lose during transmission or communication. In FINANCIAL INFORMATION EXCHANGE (FIX) protocol every message contains a unique sequence number defined inwards tag 34. Logically nosotros tin split upwards sequence number into 2 Incoming as well as Outgoing Sequence number.
Incoming sequence number is the number whatever FIX Engine expecting from Counter Party as well as Outgoing sequence number is the number whatever FIX engine is sending to Counter Party.
What happens if Client connects alongside Sequence No higher than expected?
If Client FIX Engine connects to Broker Fix Engine alongside Sequence Number higher than expected (e.g. broker is expecting Sequence Number = 10 as well as Client is sending = 15). As per FINANCIAL INFORMATION EXCHANGE (FIX) protocol Broker volition possess got the connexion as well as final result a Resend Request (MsgType=2) asking Client to resend missing messages (from messages 10 -15) , Now Client tin either replay those messages or tin final result a Gap Fill Message (MsgType=4 equally per FINANCIAL INFORMATION EXCHANGE (FIX) protocol) inwards representative replaying those messages doesn't brand whatever feel (could locomote admin messages e.g. Heartbeat etc).
What produce yous hateful past times Funari Order type?
Funari is real pop Order type commonly used inwards Japanese as well as Korean marketplace , its denoted past times OrdType=I in FIX protocol , In Funari Order type Order volition rest inwards Market equally Limit Order but during Market Closing flow , if at that spot is whatever unexecuted quantity as well as therefore it volition plough into a Market Order.
What produce yous hateful past times Odd lot as well as Board lot?
In Exchanges every Security traded inwards lot e.g. lot of 1, 10 or 100 or 1000. These are called Board lots as well as spell placing social club clients demand to shipping Order quantity multiple of Board lot. If Clients sends whatever Order which is non a multiple of Board lot as well as therefore its called Odd lot.
What happens if Client connects alongside Sequence No lower than expected?
If Client FIX engine connects to broker FIX engine alongside Sequence No lower than expected than broker FIX engine volition disconnect the connection. As per FINANCIAL INFORMATION EXCHANGE (FIX) protocol customer as well as therefore may endeavor past times increasing its sequence Number until broker accepts its connection.
What is the divergence betwixt PossDup as well as PossResend?
As per FINANCIAL INFORMATION EXCHANGE (FIX) protocol PossDupFlag (tag 43): indicates possible retransmission of message alongside this sequence number valid value:
Y = Possible duplicate
due north = Original transmission
PossResend (tag 97): Indicates that message may incorporate information that has been sent nether unopen to other sequence number.
Valid Values:
Y=Possible resend
N=Original transmission
In Simple terms PossDup is when yous are resending a message as well as PossResend is when yous are sending a novel message alongside same information yous possess got already sent inwards a previous message.
Let’s reckon below job representative for clarity with PossDup, yous tin shipping out an social club alongside Sequence number of 10. Then yous shipping unopen to other message alongside a number of 11. For unopen to argue the counter party did non have message 10 as well as volition asking a resend. You volition as well as therefore resend this same message alongside a sequence number of 10 marker tag 43=Y.
In representative of PossResend, yous may shipping out an order, over again let's tell alongside a sequence number of 10. After v seconds, yous possess got non gotten an acknowledgement. So yous may create upwards one's heed to endeavor over again because peradventure the counterparty didn't have or got the starting fourth dimension time. So yous volition shipping out a message alongside a dissimilar sequence number similar 11, which volition incorporate all of the same information message number 10 did. You volition as well as therefore grade it equally a PossResend. So this is proverb yous possess got already sent this social club before, which Counter political party may or may non possess got processed.
While treatment of PossDups is dictated past times session logic, PossResends are dictated past times buisiness logic (e.g. Reject an Order if ClOrdID is duplicate etc). This is because it is upwards to the trouble concern layer to determine if a item trouble concern object has been processed (by checking the social club id for instance).
You possess got bought a stock at INR 100 as well as desire to sell it equally before long equally it hits INR 110. If yous desire to guarantee that your sell social club is filled, which of the next types of social club should yous place?
In this representative yous tin non job throttle social club because throttle social club doesn't guarantee execution if at that spot are similar LIMIT social club exists as well as therefore it volition hold back for its turn. You tin non either job Market Order because it didn't give yous Price guarantee as well as volition create amount on electrical flow price. Solution is to job "STOP" social club alongside halt cost 110, equally before long equally cost reaches 110 it volition acquire activate but inwards representative of high volatility it tin create amount to a greater extent than or less 110 if cost is moving real fast.
Which of the next orders would locomote automatically canceled if non executed immediately?
Fill or Kill (FOK) as well as Immediate or Cancel (IOC) orders are types of social club which either executed straight off or acquire cancelled past times exchange. TimeInForce (tag 59) inwards FINANCIAL INFORMATION EXCHANGE (FIX) protocol is used to grade an social club equally FOK or IOC.
What is the divergence betwixt FOK social club as well as IOC Order?
Main divergence betwixt FOK as well as IOC Order is that FOK demands amount execution of social club i.e. all quantity has to locomote filled spell IOC social club is ready to possess got partial fills also?
What is STP (Straight through Processing) Systems?
STP is abbreviation of "Straight though processing" which denotes trading systems which requires either no manual interaction or unopen to manual interaction for whole merchandise life bike e.g. everything later submission of Order e.g. processing, execution, booking, allocation, short town occurs automatically.
NON STP systems require manual interaction on unopen to phases of merchandise life bike e.g. booking or settlement.
Further Learning
The Fix Guide: Implementing the FIX Protocol 2nd Edition
Building Winning Algorithmic Trading Systems
Trading Systems as well as Methods past times Perry J. Kaufman
Linux Command Line Interface (CLI) Fundamentals
TCP/IP Networking for Developers
To larn to a greater extent than virtually FINANCIAL INFORMATION EXCHANGE (FIX) protocol read my FINANCIAL INFORMATION EXCHANGE (FIX) protocol tutorial series
Anda sekarang membaca artikel Financial Data Telephone Substitution (Fix) Protocol Interview Questions Answers dengan alamat link https://bestlearningjava.blogspot.com/2019/03/financial-data-telephone-substitution.html
Judul : Financial Data Telephone Substitution (Fix) Protocol Interview Questions Answers
link : Financial Data Telephone Substitution (Fix) Protocol Interview Questions Answers
Financial Data Telephone Substitution (Fix) Protocol Interview Questions Answers
Financial Information Exchange (FIX) Protocol Interview Questions as well as Answers
Some to a greater extent than Fix protocol interview question , I volition position reply along when I'll acquire unopen to fourth dimension for at nowadays only questions :)
Now I possess got updated it alongside answer, Please allow me know if yous possess got whatever doubt, or yous possess got other questions, yous tin equally good contribute past times whatever interrogation asked during any FINANCIAL INFORMATION EXCHANGE (FIX) protocol interview.
What produce yous hateful past times Warrant?
Warrant is a fiscal production which gives right to holder to Buy or Sell underlying fiscal security, its similar to pick alongside unopen to differences e.g. Warrants are ordinarily issued past times banks spell options are primarily traded inwards exchange.
What is hateful past times Settlement of Securities? When Settlement does occur?Some to a greater extent than Fix protocol interview question , I volition position reply along when I'll acquire unopen to fourth dimension for at nowadays only questions :)
Now I possess got updated it alongside answer, Please allow me know if yous possess got whatever doubt, or yous possess got other questions, yous tin equally good contribute past times whatever interrogation asked during any FINANCIAL INFORMATION EXCHANGE (FIX) protocol interview.
What produce yous hateful past times Warrant?
Warrant is a fiscal production which gives right to holder to Buy or Sell underlying fiscal security, its similar to pick alongside unopen to differences e.g. Warrants are ordinarily issued past times banks spell options are primarily traded inwards exchange.
In Simple term Settlement way coin volition deducted from buyers as well as trouble concern human relationship as well as security(Shares) volition locomote credited to his trouble concern human relationship , ordinarily Settlement occurs after few days of merchandise engagement for most of the telephone substitution its T+3 (i.e. Three days later merchandise date) , T denotes Trade engagement way the engagement on which transaction has taken place.
For unopen to of the exchanges e.g. NSE India, SEHK Hongkong its T+2.
What is NewOrderSingle, OrderCancelReplance as well as OrderCancel Reject message?
These are the basic, most commonly used messages inwards Electronic trading via FINANCIAL INFORMATION EXCHANGE (FIX) protocol.
NewOrderSingle message is denoted past times MsgType=D as well as its used to house an Order, OrderCancelReplace Request is modification asking denoted past times MsgType=G inwards FINANCIAL INFORMATION EXCHANGE (FIX) protocol as well as used to modify Order e.g for changing quantity or cost of Order.
OrderCancelRequest is 3rd inwards this category denoted past times MsgType=F inwards FINANCIAL INFORMATION EXCHANGE (FIX) protocol as well as used to cancel Order placed into Market.
What are most common issues come across when 2 FIX Engine communicates ?
When Clients connect to broker via FINANCIAL INFORMATION EXCHANGE (FIX) protocol, at that spot FIX engine connects to each other, spell setting upwards as well as during farther communication many issues tin occur below are unopen to of most mutual ones:
Issues related to network connectivity
Issues related to Firewall rules
Issue related to wrong host/port cite spell connecting.
Incorrect SenderCompID as well as TargetCompID
Sequence Number mismatch
Issue related to FINANCIAL INFORMATION EXCHANGE (FIX) version mismatch
What produce yous hateful past times Incoming Sequence No as well as Outgoing Sequence No? Which tag is used to deport Sequence No?
Sequence Number is real of import concept of FINANCIAL INFORMATION EXCHANGE (FIX) protocol which essentially provides it Recovery as well as replay functionality as well as ensures that no message volition lose during transmission or communication. In FINANCIAL INFORMATION EXCHANGE (FIX) protocol every message contains a unique sequence number defined inwards tag 34. Logically nosotros tin split upwards sequence number into 2 Incoming as well as Outgoing Sequence number.
Incoming sequence number is the number whatever FIX Engine expecting from Counter Party as well as Outgoing sequence number is the number whatever FIX engine is sending to Counter Party.
What happens if Client connects alongside Sequence No higher than expected?
If Client FIX Engine connects to Broker Fix Engine alongside Sequence Number higher than expected (e.g. broker is expecting Sequence Number = 10 as well as Client is sending = 15). As per FINANCIAL INFORMATION EXCHANGE (FIX) protocol Broker volition possess got the connexion as well as final result a Resend Request (MsgType=2) asking Client to resend missing messages (from messages 10 -15) , Now Client tin either replay those messages or tin final result a Gap Fill Message (MsgType=4 equally per FINANCIAL INFORMATION EXCHANGE (FIX) protocol) inwards representative replaying those messages doesn't brand whatever feel (could locomote admin messages e.g. Heartbeat etc).
What produce yous hateful past times Funari Order type?
Funari is real pop Order type commonly used inwards Japanese as well as Korean marketplace , its denoted past times OrdType=I in FIX protocol , In Funari Order type Order volition rest inwards Market equally Limit Order but during Market Closing flow , if at that spot is whatever unexecuted quantity as well as therefore it volition plough into a Market Order.
What produce yous hateful past times Odd lot as well as Board lot?
In Exchanges every Security traded inwards lot e.g. lot of 1, 10 or 100 or 1000. These are called Board lots as well as spell placing social club clients demand to shipping Order quantity multiple of Board lot. If Clients sends whatever Order which is non a multiple of Board lot as well as therefore its called Odd lot.
What happens if Client connects alongside Sequence No lower than expected?
If Client FIX engine connects to broker FIX engine alongside Sequence No lower than expected than broker FIX engine volition disconnect the connection. As per FINANCIAL INFORMATION EXCHANGE (FIX) protocol customer as well as therefore may endeavor past times increasing its sequence Number until broker accepts its connection.
What is the divergence betwixt PossDup as well as PossResend?
As per FINANCIAL INFORMATION EXCHANGE (FIX) protocol PossDupFlag (tag 43): indicates possible retransmission of message alongside this sequence number valid value:
Y = Possible duplicate
due north = Original transmission
PossResend (tag 97): Indicates that message may incorporate information that has been sent nether unopen to other sequence number.
Valid Values:
Y=Possible resend
N=Original transmission
In Simple terms PossDup is when yous are resending a message as well as PossResend is when yous are sending a novel message alongside same information yous possess got already sent inwards a previous message.
Let’s reckon below job representative for clarity with PossDup, yous tin shipping out an social club alongside Sequence number of 10. Then yous shipping unopen to other message alongside a number of 11. For unopen to argue the counter party did non have message 10 as well as volition asking a resend. You volition as well as therefore resend this same message alongside a sequence number of 10 marker tag 43=Y.
In representative of PossResend, yous may shipping out an order, over again let's tell alongside a sequence number of 10. After v seconds, yous possess got non gotten an acknowledgement. So yous may create upwards one's heed to endeavor over again because peradventure the counterparty didn't have or got the starting fourth dimension time. So yous volition shipping out a message alongside a dissimilar sequence number similar 11, which volition incorporate all of the same information message number 10 did. You volition as well as therefore grade it equally a PossResend. So this is proverb yous possess got already sent this social club before, which Counter political party may or may non possess got processed.
While treatment of PossDups is dictated past times session logic, PossResends are dictated past times buisiness logic (e.g. Reject an Order if ClOrdID is duplicate etc). This is because it is upwards to the trouble concern layer to determine if a item trouble concern object has been processed (by checking the social club id for instance).
You possess got bought a stock at INR 100 as well as desire to sell it equally before long equally it hits INR 110. If yous desire to guarantee that your sell social club is filled, which of the next types of social club should yous place?
In this representative yous tin non job throttle social club because throttle social club doesn't guarantee execution if at that spot are similar LIMIT social club exists as well as therefore it volition hold back for its turn. You tin non either job Market Order because it didn't give yous Price guarantee as well as volition create amount on electrical flow price. Solution is to job "STOP" social club alongside halt cost 110, equally before long equally cost reaches 110 it volition acquire activate but inwards representative of high volatility it tin create amount to a greater extent than or less 110 if cost is moving real fast.
Which of the next orders would locomote automatically canceled if non executed immediately?
Fill or Kill (FOK) as well as Immediate or Cancel (IOC) orders are types of social club which either executed straight off or acquire cancelled past times exchange. TimeInForce (tag 59) inwards FINANCIAL INFORMATION EXCHANGE (FIX) protocol is used to grade an social club equally FOK or IOC.
What is the divergence betwixt FOK social club as well as IOC Order?
Main divergence betwixt FOK as well as IOC Order is that FOK demands amount execution of social club i.e. all quantity has to locomote filled spell IOC social club is ready to possess got partial fills also?
What is STP (Straight through Processing) Systems?
STP is abbreviation of "Straight though processing" which denotes trading systems which requires either no manual interaction or unopen to manual interaction for whole merchandise life bike e.g. everything later submission of Order e.g. processing, execution, booking, allocation, short town occurs automatically.
NON STP systems require manual interaction on unopen to phases of merchandise life bike e.g. booking or settlement.
Further Learning
The Fix Guide: Implementing the FIX Protocol 2nd Edition
Building Winning Algorithmic Trading Systems
Trading Systems as well as Methods past times Perry J. Kaufman
Linux Command Line Interface (CLI) Fundamentals
TCP/IP Networking for Developers
To larn to a greater extent than virtually FINANCIAL INFORMATION EXCHANGE (FIX) protocol read my FINANCIAL INFORMATION EXCHANGE (FIX) protocol tutorial series
Related post:
- Top xx FIX Protocol Interview Questions
- FIX protocol as well as cook messaging interview questions
- Interview interrogation asked on FINANCIAL INFORMATION EXCHANGE (FIX) Protocol
- FIX Protocol Tutorial for beginners
- FIX Protocol Session or Admin messages tutorial
- Fix Session is non connecting how to diagnose it?
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