Cancel Id question.

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1

Imported from previous forum

2

Hello,

I’ve got the following question.
A client send me an order with the Reference X.
After, he send me an order cancel with the following Id :
11=Y , 41=X.

I reject this cancel request.

Is it legal for that client to send me another cancel request with the same reference ? ( 11=X , 41=Y) I think not but I’d like to be sure.

Thanks,

Frédéric BOYER.
Project Manager.
CAI Cheuvreux.

3

[ original email was from Dean Kauffman - dean.kauffman@tradeweb.com ]
Frédéric,

You should not have rejected the first request based on the references. A cancel request consumes a new ClOrdID (11=Y) and points back to the order to be canceled through OrigClOrdID (41=X). Whether or not you acted on the cancel request, ClOrdID X on the original accepted order is consumed and must not be reused by that client.

> Hello,
>
> I’ve got the following question.
> A client send me an order with the Reference X.
> After, he send me an order cancel with the following Id :
> 11=Y , 41=X.
>
> I reject this cancel request.
>
> Is it legal for that client to send me another cancel request with the same reference ? ( 11=X , 41=Y) I think not but I’d like to be sure.
>
> Thanks,
>
> Frédéric BOYER.
> Project Manager.
> CAI Cheuvreux.
>

4

If there is two cumulative cancels with the following references :

order (11=X) ->
ack <-
cancel request (11=X , 41=Y) ->
cancel reject <-
cancel request (11=X , 41=Z) ->

Is it legal to send the second cancel with Z=Y ?

Thank you.

> Frédéric,
>
> You should not have rejected the first request based on the references. A cancel request consumes a new ClOrdID (11=Y) and points back to the order to be canceled through OrigClOrdID (41=X). Whether or not you acted on the cancel request, ClOrdID X on the original accepted order is consumed and must not be reused by that client.
>
> > Hello,
> >
> > I’ve got the following question.
> > A client send me an order with the Reference X.
> > After, he send me an order cancel with the following Id :
> > 11=Y , 41=X.
> >
> > I reject this cancel request.
> >
> > Is it legal for that client to send me another cancel request with the same reference ? ( 11=X , 41=Y) I think not but I’d like to be sure.
> >
> > Thanks,
> >
> > Frédéric BOYER.
> > Project Manager.
> > CAI Cheuvreux.
> >
>

5

Frédéric,

Please see my replies below. I hope you find them helpful.

Andrew Scott
FIX Consultant
andrew@aammscott.demon.co.uk

> If there is two cumulative cancels with the following references :
>
> order (11=X) ->
> ack <-
> cancel request (11=X , 41=Y) ->
> cancel reject <-
> cancel request (11=X , 41=Z) ->

Your cancel requests should read:

cancel request (11=Y, 41=X) ->
cancel reject <-
cancel request (11=Z, 41=X) ->

>
> Is it legal to send the second cancel with Z=Y ?
>

If you mean by this substituting Z with Y above, then no. The cancel reject should refer to ClOrdID Z.

> Thank you.
>
>