[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/8c00c067 - PLEASE DO NOT REPLY BY MAIL.]
I would identify an order by its unique ID and not by some or all of its attributes, some of which can change for a number of reasons. I would also not recommend such checks in the interest of performance. It is more of a sanity check but I would limit it to the instrument, side and order quantity as is recommended for the OrderCancelRequest (it does not have OrdType). The TriggeringInstruction component block is a more generic way to define stop orders (and much more complex triggers). You would use TriggerAction=2=Modify and set TriggerOrderType to market or limit. The field description defines that this is to cause a change in OrdType. Regards, Hanno. > The OrderType(40) should not be changed from StopLimit to Limit in > execution reports but the system has the capability to handle the > StopLimit order as a Limit order. (It can be changed for order > matching, but it will remain same while sending the execution reports > for these orders) > > If ordertype is changed in execution reports then buy side will send DK > message saying initial attributes(40=4 StopLimit) of the order does not > matches with 35=D message. > > Please correct me if iam wrong. > > Thanks Harish > > > OrdType should change to a limit (or market) order to show that it now > > no longer behaves like a stop but is simply an active order. If you > > need to maintain the information on the order (in the ExecutionReport) > > that it was once a stop order then I would use user-defined field 6489 > > TriggerIndicator. It is a good candidate for a standard field but > > nobody has submitted a formal proposal for it yet (we might...). > > > > > Hi, > > > > > > Following the triggering of a Stop Limit Order if the order behaves > > > as a limit order should the Order Type(40) of the order be changed > > > to Limit, or should it remain as a Stop Limit Order. > > > > > > The Order State Change Martices in FIX 5.0 refers to such a > > > scenario in > > > E.1.f but does not mention a change in the Order Type. > > > > > > Is there a standard model for supporting Order Type Amendments in > > > FIX for such orders. [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.
