Imported from previous forum
Once a stop order (tag 40 [OrdType] = 3 [Stop] or 4[Stop limit]) has been accepted by a FIX Sell Side but it has NOT been triggered yet, is it correct to assume that tag 39 [OrdStatus] is set to 0 [New] ? Or should it have 39 [OrdStatus] = A [Pending New], as implemented e.g. by the French Euronext FIX interface ?
Also, once a stop order has been triggered, are there any unsolicited messages in FIX 4.2 (or later) to inform the Buy Side that the order is now visible in the market ? In most cases the execution of trades might be used to extract this info, but this might not always happen.
Any help will be greatly appreciated.
Regards,
Antonio Caroselli
www.gatelab.com