FIX Drop Copy

FIX drop copy functionality provides market participants with near real-time copies of their trade reports and messages related to their orders which can be sent to multiple destinations simultaneously. It adheres to the same principles around managing non drop copy FIX sessions, as described in FIX Session Level Management.

The executions sent to drop copy sessions will have an additional field CopyMsgIndicator (tag 797) = Y to indicate that this is a drop copy of another message. The executions will be forwarded to drop copy session only if it is connected, the message buffering if FIX session is disconnected is turned off by default for drop copy FIX sessions.

Multiple executions can be sent to one drop copy session. The executions are selected based on the trading account id on the original order. The linkage to map trading account ids to drop copy sessions can be updated in real time.

The drop copy sessions will not be counted against the max 20 sessions that are allocated for executions per institution.