Cancel/Replace amends qty to a value lower than Cum Qty

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Imported from previous forum

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A Cancel/Replace request, received for a partially filled order, amends the qty to a value lower than the Cum Qty. As the Leaves Qty ends up to be a negative value, we will cancel the order in the market…

What should we reply to the client?
-Execution Report with an order status "Replaced" or "Cancelled"?

  • With a reject first, then with an unsollicited cancellation?
    FIX 4.0 is not very clear on this matter.

Thanks,
Laurent

3

In that case we reply client with message number 35=9 cancel/replace reject with tag 102 and error reason.

A Cancel/Replace request, received for a partially filled order, amends
the qty to a value lower than the Cum Qty. As the Leaves Qty ends up to
be a negative value, we will cancel the order in the market…

What should we reply to the client? -Execution Report with an order
status “Replaced” or “Cancelled”?

  • With a reject first, then with an unsollicited cancellation? FIX 4.0
    is not very clear on this matter.

Thanks, Laurent