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4.2 Changes
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Re: Order Status
Scott Atwell / American Century Investments <>
31 Jul 2008 8:57AM ETI recently saw this situation in practice and someone referred me to a pre-existing discussion thread on this topic: http://www.fixprotocol.org/discuss/read/d2d9b88c
> Shakir,
>
> My view is, it conforms to FIX. Here is an extract from the FIX
> 4.2 specs :-
>
> "A Cancel on an execution (trade bust) happening the same day of the
> trade will result in CumQty and DayCumQty each decreasing by the
> quantity busted, and LeavesQty increasing by the quantity busted.
> OrderQty and DayOrderQty will remain unchanged. If the business rules
> allow for a trade bust to be reported on a later date than the trade
> being busted, the OrderQty and DayCumQty will remain unchanged, the
> LeavesQty and DayOrderQty will increase by the quantity busted, and the
> CumQty will decrease by the quantity busted."
>
> If the leaves can be increased in this manner, for a bust that results
> in Order Qty = Leaves implies, the order status is NEW.
>
> What I meant by "deny" is that some systems, keep the order status
> in PFILL, even when this condition is met. I think if your system is
> an "Order Router" you must ignore the exchange stamped order status,
> and display a FIX compliant order status all the time for your
> clients. i.e NEW.
>
> Hope this helped. I couldn't find a order status change matrix table for
> trade bust resulting in Order Qty = Leaves Qty. Hard luck!
>
> Rgds, Thaya.
>
> > Thanks Thaya.
> >
> > Does this confirm to FIX? As you pointed out that certain systems may
> > deny, then it would create issue in handling multiple connectivities.
> >
> > Regards, Shakir
> >
> > > Hi Shakir,
> > >
> > > If trade cancels can happen with reinstatements (executed qty added
> > > back to the book upon cancellation), your scenario in question is
> > > valid. Though certain systems may deny to communicate it as Order
> > > status = NEW, in a case where ...
> > >
> > > Order Qty = Leaves Qty the order status should be NEW.
> > >
> > > Rgds, Thaya.
> > >
> > >
> > > > Hi,
> > > >
> > > > We have come across a unique case where the status of the order is
> > > > changed from partial fill to New. As per my understanding this
> > > > should not happen. Please help to clarify.
> > > >
> > > > Following is an example: For an order there is a trade which has
> > > > resulted in partial fill. This trade is removed from the order
> > > > which resulted in no executions.
> > > >
> > > > Regards, Shakir
Re: Order Status SriPavan Thayaparan / Millennium Information Technolog 30 Jul 2008 7:19AM ET Re: Order Status SriPavan Thayaparan / Millennium Information Technolog 31 Jul 2008 2:02AM ET Re: Order Status
Scott Atwell / American Century Investments 31 Jul 2008 8:57AM ET
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