[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/5c92da0a - 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 HAMMAD MALIK [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 -~----------~----~----~----~------~----~------~--~---
