[This message was posted by Wattanachai Rodkamnerd of <[email protected]>
to the "General Q/A" discussion forum at http://fixprotocol.org/discuss/22. You
can reply to it on-line at http://fixprotocol.org/discuss/read/32fedaa9 -
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Let me explain my situation.
My program is a FIX engine which also interfaces to exchage native API.
Values in parentheses of ExecReport are (ExecType, OrdStatus).
Client MY PROGRAM
Exchange
<OrdStatus>
1. New Order --->
2. <PendingNew>
3. New Order
--->
3. Cancel Request --->
4. <PendingCancel>
5. <--- ExecReport Cancel Request --->
(PendingCancel,PendingCancel)
6. <--- Order
Confirmation
7. <PendingCancel + New>
8. <--- ExecReport
(New,xxx)
9. <--- Cancelling
Confirmation
7. <Cancelled>
8. <--- ExecReport
(Cancelled,Cancelled)
In the row 8, what should be the value of xxx ?
> ExecType=New only applies to a response to an order entry. A cancel
> prior to an entry is not possible as the order does not yet exist.
> A cancel after order entry changes ExecType from New to Pending
> Cancel or Cancelled. Therefore I do not see what semantic
> ExecType=New and OrdStatus=PendingCancel is supposed to convey
> whether you "allow" it or not.
>
> Regards, Hanno.
>
> > Thank you, Hanno I understand what you described.
> >
> > I'm still wondering not about the case B.1.d but in general case. I've
> > never seen any ExecReport that has ExecType=New and
> > OrdStatus=PendingCancel in the FIX specification. Is a ExecReport
> > allowed to have ExecType=New and OrdStatus=PendingCancel? Or has
> > anyone seen it in the real usage?
> >
> > Regards,
> >
> >
> > > You need to look at the comment of line 4 which says "Order accepted
> > > before cancel request is processed.". The cancel request is
> > > therefore unknown at the time that this ER is being produced, even
> > > if it is shown to come after the ER in step 3 that has this
> > > knowledge.
> > >
> > > Regards, Hanno.
> > >
> > > > Hi, I have a question about OrdStatus in FIX4.4 Vol. 4, in the
> > > > section "Order State Change Matrices".
> > > > B.1.d – Cancel request issued for an order that has not yet been
> > > > acknowledged Buy Side Sell Side ExecType OrdStatus
> > > > 1. New Order (X) --->
> > > > 2. Cancel Request (Y,X) --->
> > > > 3. Execution Report (Y,X) <--- PendingCancel PendingCancel
> > > > 4. Execution Report (X) <--- New New
> > > > 5. Execution Report (Y,X) <--- Canceled Canceled
> > > >
> > > > Why is the OrdStatus in the row 4. not "Pending Cancel" which has
> > > > higher precedence than "New"?
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