[This message was posted by Mohamed Kasim of ITC Infotech India Limited <[email protected]> to the "4.3 Changes" discussion forum at http://fixprotocol.org/discuss/2. You can reply to it on-line at http://fixprotocol.org/discuss/read/772019c6 - PLEASE DO NOT REPLY BY MAIL.]
> Hi - I have a scenario for an exchange gateway where FIX clients place > market orders as 40=1. > > Where there are no opposing orders the exchange cancels the order. Where > the order is partially filled, the exchange converts the remainder to a > limit order under the same OrderID with price = last trade price. > > The FIX client did not set 40=K (Market with leftover limit) so the > change is unsolicited. > > Assuming the following order is placed, then partially matched: 35=D, > 54=1, 40=1, 38=100 35=8, 54=1, 40=1, 38=100, 37=1, 39=1, 150=F, 32=40, > 31=22.50, 151=60 > > how should I report the change in order type to the FIX client? > > My thoughts were to go as follows: 35=8, 54=1, 40=2, 38=100, 37=1, 39=1, > 150=D, 32=0, 31=0, 44=22.50, 151=60 > > Can anyone guide on this please? thanks in advance Market Order can get into one or more partial Execution as per the depth of the books. So, that is within the acceptable rules of all execution. Unsolicited cancel is the issue you would like to resolve here. Most of the system accepts unsolicited Cancelled status of any order. Probably you can generate unsolicited cancels as you received from Exchange without changing the order parameter. I believe exchange also sends messages with out changing the order parameter. Unless your client has specific limitation in his system, hopefully this should work with for FIX order scenarios (Like Done for day). [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 -~----------~----~----~----~------~----~------~--~---
