[This message was posted by anand pandey of Deutsche Bank <[email protected]> to the "4.2 Changes" discussion forum at http://fixprotocol.org/discuss/5. You can reply to it on-line at http://fixprotocol.org/discuss/read/f484cc3b - PLEASE DO NOT REPLY BY MAIL.]
There is another way for understanding the difference between the Client initiated cancel and Unsol cancel is to look for TAG 378...The Restated reson would be present ony when the Cancel is generated from Sell Side. say 378=4 Broker Option. You can check for this also. It should be same even if Exchange cancels the order. > Hi Ashish, > > Thank you for you input. If those are the only reasons then we are > covered. We are operating a smart order routing utility and exactly what > you mentioned is done within the system. > > thanks, Heshan. > > > > > There may not be any specific reason to differentiate cxl-ack from > > unsolicited- > > cxl from an exchange management perspective but order management might > > need to differentiate it for transaction management. > > > > When a cxl-request is sent by a front end, for example, typcially the > > order mangement has an open transaction and is waiting for a response > > - the cxl could get rejected or accepted. At that point, the user may > > not be allowed to modify the order or send repeated cxl messages out. > > > > In case of unsolicited cxl message, the message is received and > > processed differently as there is no open transaction on the order > > management side and the user might be in the middle of let's say > > modifying the order. > > > > - Ashish > > > > > Hi Bil, > > > > > > Just out of curiosity, do you have any reason to identify a > > > unsolicited cancel from a client requested cancel? I'm trying to > > > figure out whether we should be concerned as well. > > > > > > Heshan. > > > > > > > > > > Thanks Sunil. > > > > > Bil, > > > > > > > > > > You are correct in your observation. Absence of tag 41 in a > > > > > Cancelled ER is the only way to identify whether the cancel was > > > > > initiated by the buy side or the sell side. Also one more option > > > > > is to look for the pending Cancel ER which will not be sent if > > > > > the cancel is initiated by the exchange but since thats not > > > > > mandatory, some sell sides ignore this rule and only send a > > > > > cancelled ER in response to a Cancel request sent by the client. > > > > > > > > > > Regards, Sunil Singh [You can unsubscribe from this discussion group by sending a message to mailto:[email protected]] --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Financial Information eXchange" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/FIX-Protocol?hl=en -~----------~----~----~----~------~----~------~--~---
