Imported from previous forum
[ original email was from Francesc Prats - fprats@meff.com ]
I would like to know if these two kind of orders, in an electronic Exchange, are supported in FIX 4.3:
a) Fraction orders. User defines the quantity to be displayed (f.i. 15 contracts) as a fraction of the whole order (f.i. 100 contracts). When a lot of 15 contracts is hit, appears automatically in the Order Book a new lot of another 15 contracts (except last lot of 10 contracts.
b) Margin Orders. User defines, for instance for a bid order a price of 8900 to be displayed and 5 ticks for a range price. That means this order is listed at 8900, but it will automatically match any selling order from 8905 to 8900.
Yes, but the spec uses different terminology than you are using for these.
Refer to Volume 4’s “Order Handling and Instruction Semantics” section.
To "translate":
a) see: "Reserve Quantity" Orders
b) see: "Discretion"
> I would like to know if these two kind of orders, in an electronic Exchange, are supported in FIX 4.3:
> a) Fraction orders. User defines the quantity to be displayed (f.i. 15 contracts) as a fraction of the whole order (f.i. 100 contracts). When a lot of 15 contracts is hit, appears automatically in the Order Book a new lot of another 15 contracts (except last lot of 10 contracts.
> b) Margin Orders. User defines, for instance for a bid order a price of 8900 to be displayed and 5 ticks for a range price. That means this order is listed at 8900, but it will automatically match any selling order from 8905 to 8900.
>
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