[This message was posted by Hanno Klein of Deutsche Börse Systems <[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/267fdc22 - PLEASE DO NOT REPLY BY MAIL.]
Correct, the replace request might cross the ExecutionReport on the wire but the trading venue is always aware of the most recent state of the order, i.e. the fact that qty=2 has already been traded and that qty=10 (8) is left for trading after (before) the replacement. > Hi Vinay, > > Step 3 of the described Scenario below is invalid. > > Once OrderReplaceRequest is sent with modified quantity as 12, the > OrigClOrdID (Tag 41)of amendment request will be checked against ClOrdID > (11) of original Order before processing. > > Since a partial fill has taken place for the original order, the > amendment will be accepted and executed for qty=10 (remaining quantity > to be filled). > > Hence, total traded quantity (CumQty) would be 12 and not 14 after final > execution. > > Regards, Bivas > > > > In FIX, Tag no. 38 represents the Order Quantity which is "Total > > Intended Order Quantity" (including the amount already executed for > > this chain of orders). Lets consider the following case: > > 1) An entity places an order with Order Quantity = 10. > > 2) Order gets partially traded with Traded Quantity = 2. 3) Before the > > receipt of Execution Report (Trade Confirmation) of step 2, an > > Entity places an Order Replace Request with Order Quantity = 12. At > > this moment the entity is not aware that the order is already > > partially traded with quantity 2. > > 3) The order gets fully traded. At this moment, total traded quantity > > i.e. CumQty would be 14. > > > > Is this case valid in FIX? If Yes, then will it be OK, if the trades > > for quantity 14 takes place instead of 12? > > > > Thanks in advance, Vinay M [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 -~----------~----~----~----~------~----~------~--~---
