[This message was posted by Vicente Bouza of Comunytek <[email protected]> to the "4.4 Changes" discussion forum at http://fixprotocol.org/discuss/17. You can reply to it on-line at http://fixprotocol.org/discuss/read/9b46b853 - PLEASE DO NOT REPLY BY MAIL.]
> Vicente - by "cared" order do you mean an order that is routed to a > broker for manual execution rather than sent direct to the exchange for > electronic execution ? > > If so then this is typically implemented by HandlingInstruction (21) = 3 > (Manual). The sell side routes orders with 21=3 to their order > management system and the broker receives the order via some form of > notification such as a pop-up on their screen. They then work the order > based on the parameters supplied and send the fills back electronically > to the client using the original order submitted via FIX. > > Often care orders are verbally confirmed with the client on receipt but > it is possible to provide granular instructions using ExecInst (18). > > Regards, > > - Greg > > > The term "cared" is not self-explanatory, please describe the business > > background and workflows. > > > > > Hello > > > > > > Which is the best method to implement the concept of "cared" orders > > > using FIX?. Regards First of all thank you for your response and apologies for my later response, but I have been out of office until now. My expression "cared order" means Greg tells "an order that is routed to a broker for manual execution rather than sent direct to the exchange for electronic execution". In order to work on the cared order, the broker could send several (suppose three) orders to electronic market. Each of these three single orders could be several fills and so on. My question is how to map a single ClOrderID (the original cared order) to several "real" orders (each of them with their OrderID on the markets,....). Perhaps the solution is as Greg tells, only to send to the buy side the fills associated to the original ClOrderID. But in this approach, the buy side only receives information at the end of the broker work. Thanks in advance for yor help and suggestions. [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 -~----------~----~----~----~------~----~------~--~---
