EP024 – Chinese FIX Review and Recommendations

This document reviews the proposed Chinese STEP protocol against FIX 4.3 and FIX 4.4. It examines order entry, non-trading orders, designation or registration instructions, security status, trading sessions, participant identifiers, accounts, fees and security classification, then recommends where existing FIX messages and fields can replace proposed custom messages and tags.
Its objective is to minimise unnecessary Chinese-market customisation while preserving requirements that standard FIX did not meet. It recommends standard FIX messages for several initially proposed U-series workflows, introduces Trading Session List Request and Trading Session List for multi-session status distribution, maps Chinese instruments to Product, CFI and SecurityType structures, and identifies the smaller remaining set of genuinely necessary custom fields or messages.

Summarises FIX changes required for Chinese STEP 1.0/1.1 compatibility. Introduces Trading Session List messages, modifies PartyIDSource and PartyRole usage for Chinese investor identification, adds a transfer-fee MiscFeeType, and updates SecuritySubType definitions. The proposal consists mainly of regional interoperability adjustments.