Tag 22, Tag 55, Tag 48

Tag 22:

It’s regulation tag for tag 48.

If tag 48 is set to local code(OMX code, e.g. : HSIZ8), then, 22 must be set to value “8”

If tag 48 is set to RIC code, then 22 must be set to value “5”.

 

Tag 55:

Must always to set to local code.

 

Tag 48:

This tag is specific for HK Cash, can be set to local code, RIC code, or omitted.

 

---------------------------------------------------------------------------------------------------------------------------------------

 

For HKFO market, We have 1 option only.

1)       We set 55 to local code, and we just omit 48, 22. We can’t set 48 and 22, otherwise, problem!!

 

 

For HK Cash market, We have 3 options.

1)       We set 55 to local code, we set 48 also to local code, same as 55; and we set 22 to “8”.  (same as FO)

2)       We set 55 to local code, and we just omit 48, 22. (same as Cash)

3)       We set 55 to local code, we set 48 to RIC code, and wet set 22 to “5”.

 

Suggestion is, we need to set 48 to RIC code, and 22 to “5”, for any non-HKFO market.

 

But, from code perspective, we just adopt the most easy way – set 55 to local code only, and omit 48 and 22.

 

 

The definition of local code:

 

For cash, local code is very easy to understand. Simply remove the RIC code’s “.HK”, and all the 0 in the front.

 

1)       14542.HK’s local code is 14542.

2)       0014543.HK’s local code is 14543.

 

For HKFO, it’s different. Not that easy. You need to look up the database.

1) RIC code 2368079’s local code, also called OMX code is HSIZ8.

 

Local Code is also called exchange code, which is exchange specific, 

RIC Code (Reuters Instrument Code) is like global.

OMX Code is the code developed by a company called OMEX;  Hong Kong Future Exchange uses OMEX products and use their OMX code.  Exchange Code is exchange-specific, e.g.  Tokyo exchange uses QUIK code as local code.