Cancel Reject response

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Imported from previous forum

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[ original email was from Shakir Kagzi - shakir.kagzi@ftindia.com ]
Hi,

For a Cancel Reject response we (sell side) send a Tag39=4 (Order status as Cancelled) and Tag35=9 (Message Type as Order Cancel Reject). For one of the buy side connection, they does not accept both the combo. They consider only Tag39. Is the buy side connector FIX compliant?

Thanks

3

Shakir,

I may be wrong but according to my understanding they are FIX compliant as it is an understood thing that the message is of an order cancel reject as 35=9 mean Order Cancel Reject and there is no need of you to send 39=4.

Also 39=4 means that the order cancellation has been accepted, then why are using it to identify a cancel reject?

If we as sell side have to send a cancel reject response we just send 39=8 and 35=8.

Regards,
Raheel Rao

Hi,

For a Cancel Reject response we (sell side) send a Tag39=4 (Order status
as Cancelled) and Tag35=9 (Message Type as Order Cancel Reject). For one
of the buy side connection, they does not accept both the combo. They
consider only Tag39. Is the buy side connector FIX compliant?

Thanks

4

Hi,

I think if an ExecutionReport(35=8) is to be used for a cancel reject, the tag OrdStatus(39) should contain the current status of the order and use ExecType(150)=8 for specifying that it was a cancel reject. So the message would look like: 35=8, 150=8, 39=Current Order Status (either New, Partially Filled, etc)

Regards,

Oscar Rotel

Shakir,

I may be wrong but according to my understanding they are FIX compliant
as it is an understood thing that the message is of an order cancel
reject as 35=9 mean Order Cancel Reject and there is no need of you to
send 39=4.

Also 39=4 means that the order cancellation has been accepted, then why
are using it to identify a cancel reject?

If we as sell side have to send a cancel reject response we just send
39=8 and 35=8.

Regards, Raheel Rao

Hi,

For a Cancel Reject response we (sell side) send a Tag39=4 (Order
status as Cancelled) and Tag35=9 (Message Type as Order Cancel
Reject). For one of the buy side connection, they does not accept both
the combo. They consider only Tag39. Is the buy side connector FIX
compliant?

Thanks

5

[ original email was from Andrew Scott - ascott@latentzero.com ]
Assuming FIX 4.2, the Order Cancel Reject message [35 MsgType = 9] should be used in all instances to communicate a normal cancel reject state change. 39 OrdStatus should reflect the fill status of the order [i.e. 0, 1, 2].

It would make no sense to send 39 OrdStatus = 4 [Cancelled] on a cancel reject message.

The Execution Report [35 MsgType = 8] should never be used to communicate rejection of a cancel request. 150 ExecType = 8 is used to convey an order reject status.

Hope this helps!

Hi,

I think if an ExecutionReport(35=8) is to be used for a cancel reject,
the tag OrdStatus(39) should contain the current status of the order and
use ExecType(150)=8 for specifying that it was a cancel reject. So the
message would look like: 35=8, 150=8, 39=Current Order Status (either
New, Partially Filled, etc)

Regards,

Oscar Rotel

Shakir,

I may be wrong but according to my understanding they are FIX
compliant as it is an understood thing that the message is of an order
cancel reject as 35=9 mean Order Cancel Reject and there is no need of
you to send 39=4.

Also 39=4 means that the order cancellation has been accepted, then
why are using it to identify a cancel reject?

If we as sell side have to send a cancel reject response we just send
39=8 and 35=8.

Regards, Raheel Rao

Hi,

For a Cancel Reject response we (sell side) send a Tag39=4 (Order
status as Cancelled) and Tag35=9 (Message Type as Order Cancel
Reject). For one of the buy side connection, they does not accept
both the combo. They consider only Tag39. Is the buy side connector
FIX compliant?

Thanks