[This message was posted by John Prewett of Lava Trading <[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/135ec755 - PLEASE DO NOT REPLY BY MAIL.]
I have a question concerning generation of "pending" messages. I define "pending" messages as ExecReport with ExecType containing one of: o Pending New o Pending Replace o Pending Cancel Imagine there is a customer who sends orders to various execution venues through an intermediary. The intermediary may act as a dumb FIX router or could take order routing decisions. Should only the venues generate pending messages and the intermediary route them back to the customer? Or should the intermediary generate and send pending messages back to the customer, while discarding any pending messages received from the execution venues? While I have supplied two possible answers, I suspect the answer lies somewhere in between: "it depends on several factors...." Thanks in advance for your opinions. JohnP [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 -~----------~----~----~----~------~----~------~--~---
