[This message was posted by hammad malik of student <[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/e830ada7 - PLEASE DO NOT REPLY BY MAIL.]
> thanks scott. sorry missed the beginning of the thread. > > I do not think that Ricky's answer is correct. Note that the > > SolicitedFlag(377) is also present on the New Order messages. My > > recollection is that the flag was added to denote that the broker > > "solicited" or marketed the order. This is most commonly done via FIX > > IOIs or the sellside salestrader initiating a phone call. > > > > The scenario in which one receives FIX ExecutionReport messages > > without sending a New Order message via FIX (rather the order is > > initiated via telephone or via another system's user interface) is > > typically referred to as "unsolicited execution reports" (or "one-way > > execution reports"), however, I do not think that tag 377 is intended > > to denote this. > > > > > > > example: client sending orders to broker solicited scenario: the > > > order starts with a new order msg from the client unsolicited > > > scenario: client phones broker and the order is started > > > electronically on the broker side. the execution reports were not > > > solicited by a new order message > > > > > > > > > Hi, > > > > > > > > > > > > What is the intended use of the solicited flag (tag 377) in an > > > > > > ExecutionReport? > > > > > SolicitedFlag tells you whether the order was solicited or not. > > > > > I guess one can enter only UnSolicited orders in some stocks > > > > > while one can enter only Solicited in some stocks based on SEC > > > > > rules. Mainly used in OTCBB, PinkSheets etc. HTH > > > > > > > > Himanshu, > > > > > > > > Still don't know what solicited means. Can anyone explain it from > > > > a business perspective? > > > > > > > > Thanks, > > > > > > > > Bernt solicited could be understood in a way that anything which happens itself without someone initiating it.... like you could have unsolicited fills or executions in which a broker recieves fills with out him sending an order over fix..... it could some times be even a result of drop copying .........and then the broker applies those fills to a local order made in his front end and then routes it back to his client. Giving him the prespective that an order was made by his broker on his behalf and the executions came over it.......... if some one could clear me the minor differnce between NOE (Notice of executions ) and Unsolicited fills that would be really beneficial for me .... tanx [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 -~----------~----~----~----~------~----~------~--~---
