[This message was posted by Hanno Klein of Deutsche Börse Systems <[email protected]> to the "4.4 Changes" discussion forum at http://fixprotocol.org/discuss/17. You can reply to it on-line at http://fixprotocol.org/discuss/read/694cfbf5 - PLEASE DO NOT REPLY BY MAIL.]
The short answer is "yes". The term "unique" does not mean "identical", i.e. you can have a single OrderID or multiple OrderIDs within a single chain. As soon as you have a second chain, i.e. a different order, you cannot re-use the OrderIDs(s) used for the first chain. If you will, the rules are somewhat relaxed for OrderID compared to ClOrdID. Some legacy systems still link order identification and order prioritization together, i.e. OrderID must change due to a cancel/replace if the order is to fall back in priority (higher order number = worse priority). A change in a text field would keep OrderID stable (no affect on priority) whereas a change in price would create a new OrderID. Newer systems decouple the two elements, enabling OrderID to become a true entity identifier that does not change during the lifetime of the order. FIX already requires ClOrdID to change for every cancel/replace, making it serve as message and entity identifier at the same time. I would not recommend to have OrderID do the same. > Hello, > > Is it allowed in FIX to change the OrderID on an > OrderCacel/Repalce Request? > > In the documentation is says. > > The OrderID field is populated with the sell-side brokergenerated order > number (or fund manager-generated order number for CIVs). Unlike > ClOrdID/OrigClOrdID which requires a chaining through Cancel/Replaces > and Cancels, OrderID and SecondaryOrderID are not required to change > through changes to an order. > > But on the Execution Report where fields are described. 37 OrderID Y > OrderID is required to be unique for each chain of orders. > --- > Then again on the Order Cancel Request/replace Request text: Note that > while it is necessary for the ClOrdID to change and be unique, the > broker’s OrderID field does not necessarily have to change as a result > of the Cancel/Replace request. > > > > ---- > > So what dose "OrderId Field does not necessairly have to change" actully > mean when the Execution Report must have an unique OrderID in the Chain > of orders. > > Since most exchanges uses the same OrderId during a day. While I have > seen examples where each Execution report has an Unique OrderId. Aka > both fill, Modifies cancels has new Orderids. [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 -~----------~----~----~----~------~----~------~--~---
