Appendix D Example D35 Question

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Imported from previous forum

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[ original email was from Jim Northey - jnorthey@lasalletech.com ]
In Example D35, the execution report that is reporting a busted execution (Line 7) has:

ExecType=Partial Fill
OrdStatus=Canceled
ExecTransType=Cancel

I don’t understand why the ExecType is “Partial Fill” - is this indicateing that a “Partial Fill” execution is what is being cancelled?

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> In Example D35, the execution report that is reporting a busted execution (Line 7) has:
>
> ExecType=Partial Fill
> OrdStatus=Canceled
> ExecTransType=Cancel
>
> I don’t understand why the ExecType is “Partial Fill” - is this indicateing that a “Partial Fill” execution is what is being cancelled?
>
>
>

When an execution report is being used to report an execution bust or amendment, ExecType is not really a particularly important field as ExecTransType is used to communicate the purpose of the exec report message.

With this in mind, I think it was decided that ExecType of Partial Fill was the least worst option as setting ExecType to Canceled might be interpreted as meaning that the report is cancelling the order (when in fact the order was already canceled at T=6)

We need to address in future releases whether ExecTransType and ExecType can be combined in some way as they are both used to convey the purpose of the execution report message.