Amending pending new order

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Imported from previous forum

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If a client attempts to amend an order which is in the pending new state (i.e. the market hasn’t accepted the order, with a execution report orderstatus = new message), can the market accept the amendment without accepting the order for execution, i.e execution report, orderstatus = pending new, exectype = replace, exectranstype = new.

Or would this be non-fix compliant as page 98 of the FIC4.2 spec states orderstatus=pending new should only be send in reply to a status request message.

Laurence

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Laurence,

There are two ways to handle this request:

  1. The exchange sends you an ack first and then acknowledges the Amendment request. OR

  2. The exchange accpets your amendment request and sends a replaced ER with tag 150=5 & 39=5 without sending a New ER.

Either ways it is correct, but the one which you have referred to might be against FIX.

Regards,
Sunil Singh

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Hi Sunil,
Do you have any documentation for backing your answer (one way or the other)?
Currently my counterparty ack the replace request with 150=5 & 39=A.
Thank you.