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Each venue has a convention concerning the side that the maker presents prices and orders as.  Generally, these are referred to as the "maker's" view (i.e. prices and orders are sent to and from the maker from the maker perspective) or the "client" view (i.e prices and orders are sent to and from the maker as they are seen from the counterparty perspective).  The table below summarises how each venue expects prices/trades to be presented.

 

VenuePricing SideOrder Side
Currenex (ESP)Side is from the market participants (Taker) perspective,
the MM should respond with Offer prices for a Buy
Stream Request and Bid prices to a Sell stream Request 		Side is from the market participants (Taker) perspective
Currenex FIX (RFQ)Side is from the market participants (Taker) perspective,
the MM should respond with Offer prices for a Buy
Quote Request and Bid prices to a Sell Quote Request 		Side is from the market participants (Taker) perspective
HotSpot (ESP)The side indicates the direction and intent of *CCY1 the
client participant (Taker not market makers) perspective.

If specified, Side always indicates the direction of *CCY1
from tag 55. For example, to sell 1M USD against
EUR: 55=EUR/USD, 54=1, 15=USD, 38=1000000.
The side indicates the intent of the client participant
(Taker not market makers) perspective.

HotSpot Full AmountThe side indicates the direction and intent of *CCY1 the
client participants (Taker not market makers) perspective		The side indicates the direction and intent of *CCY1 the
client participants (Taker not market makers) perspective
Bloomberg FXGo (ESP)The side indicates the direction and intent of *CCY1 the
client participants (Taker not market makers) perspective		The side indicates the direction and intent of *CCY1 the
client participants (Taker not market makers) perspective
Bloomberg FXGo (RFQ)The side indicates the direction and intent of *CCY1 the
client participants (Taker not market makers) perspective.
The side for the net amount for the entire block. If the net
amount is ZERO the Side (54) indicator can be set to
either Buy or Sell.		The side indicates the direction and intent of *CCY1 the
client participants (Taker not market makers) perspective
Fastmatch (ESP)From price taker’s perspective, not market maker’sFrom taker’s perspective, not market maker’s
FXAll QuickTrade (RFQ) 

The side of the trade is from the perspective of the submitter
of the New Order (Taker). The side reflects whether or not the
originator of the order wishes to buy or sell the “dealt”
currency (CCY1)

 

FXAll OrderBook (RFS) 
 
The side of the trade is from the perspective of the submitter
of the New Order (Taker). The side reflects whether or not the
originator of the order wishes to buy or sell the “dealt”
currency (CCY1)
Integral (ESP)
Integral ESP
The side of the pricing is from the customer’s perspective
and in terms of the dealt instrument Currency.		, The Side field specifies the side (buy/sell) of the order from
the customer’s perspective and in terms of the dealt currency
(*CCY1) specified on the order:
• Side (#54)=1 (Buy): The customer buys the dealt currency.
• Side (#54)=2 (Sell): The customer sells the dealt currency.
GTX (ESP)The side indicates the direction and intent of *CCY1 the
client participants (Taker not market makers) perspective		The side indicates the direction and intent of *CCY1 the
client participants (Taker not market makers) perspective


Info
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Footnote

*Ticker Symbol expressed in the CCY1/CCY2 format e.g (GBP/USD)