[This message was posted by Andrei Goldchleger of Bolsa de Mercadorias & Futuros <[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/af487c11 - PLEASE DO NOT REPLY BY MAIL.]
> Andrei, > > I do not think there is a standard behaviour although the verbiage of > FIX 5.0 SP2 is quite clear on the case you mention: > > 40 OrdType K = Market With Left Over as Limit (market order with > unexecuted quantity becoming limit order at last price) > > However, FIX 5 also allows you to make the behaviour explicit for any > order type change by using the following fields: > > 1101 TriggerAction = 2 = Modify 1100 TriggerType = 1 = Partial Execution > 1111 TriggerOrderType = 2 = Limit (or whatever you need it to become) > > The question becomes what value it is to always know the initial type of > an order. Would it help to have a field like InitialOrdType that > reflects the value during order entry? This could also cover the case of > a triggered stop order becoming a regular (market/limit) order. ExecType > = L = Triggered will only cover the event when it changed. Tag 636 > WorkingIndicator is intended only for OrdStatus=New. > > My view is that it is better to change the order type if the order also > behaves differently. A market order is no longer a market order but a > limit order if the price is taken into account for matching. A stop > order is no longer a stop order but a regular order if it can > participate in matching. > > Regards, Hanno. Ok then, I got your point. Regarding Stop orders, which is the preferable way to do it? ExecType = L (Triggered) or WorkingIndicator = Y? [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 -~----------~----~----~----~------~----~------~--~---
