Cancel/Replace Request

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Imported from previous forum

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Hi all,

I have one query regarding FIX Cancel/Replace Request. I have routed order to fix service with ClOrdID as 1234-1, than I routed Cancel/Replace Request with OrigClOrdId as 1234-1 and ClOrdID as 1234-2. Now before receiving response to this Cancel/Replace as Replaced, can I send another Cancel/Replace for same order or I have to wait until I receive such response? If I can send it before receiving response as Replaced, which OrigClOrdID should I use 1234-1 or 1234-2?

thanks,
Ashwini

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> Hi all,
>
> I have one query regarding FIX Cancel/Replace Request. I have routed order to fix service with ClOrdID as 1234-1, than I routed Cancel/Replace Request with OrigClOrdId as 1234-1 and ClOrdID as 1234-2. Now before receiving response to this Cancel/Replace as Replaced, can I send another Cancel/Replace for same order or I have to wait until I receive such response? If I can send it before receiving response as Replaced, which OrigClOrdID should I use 1234-1 or 1234-2?
>
> thanks,
> Ashwini
>
See Appendix D for examples in the FIX 4.2 spec. D16/D17 show a replace request (Y,X) followed immediately by another (Z,Y). The big issue here is whether/how your counterparty will support this flow. D16 shows the flow for a counterparty who processes the c/r requests sequentially and D17 shows the flow for a counterparty who rejects the second c/r request as the order is already pending cancel/replace.