Cancel trade capture report



Imported from previous forum


How to cancel trade capture report ?

Thanks so much.


Message chaining model (cancel the message): TradeReportTransType (487) = 1 (Cancel)
Entity model (cancel the trade): TradeReportType (856) = 6 (Trade Report Cancel) or 7 (Trade Break) if it has already been confirmed to the counterparties.

How to cancel trade capture report ?

Thanks so much.


See this is a very old post but has got me thinking…

Why would TradeReportTransType (487) be used in message chaining model and not TradeReportType (856)?

The values of TradeReportTransType seem to correlate well to a transaction on the entity and TradeReportType about the message.

What’s the insight behind this convention?


@johnsten: xxxTransType fields go to the message level in general. FIX 4.2 still had ExecTransType(20) for that and ExecType(150) for the business (entity) level context of why an ER(35=8) was sent. The entity view came later as you can also see from the tag numbers. As usual there are always exceptions to the rule but we have settled on that semantic. The names of the values (e.g. new, cancel, replace) are generic and could be interpreted either way. For TradeReportType (856) and e.g. submit, accept, decline you could view it from a technical perspective but other values such as 17=Dispute and 18=Non-material update are clearly on the business level which is about the trade entity and not about the message carrying it.


So, if one wants to be true/dogmatic to the entity chaining model, how would you declare a TCR as reversing a previous trade? I can only come to the conclusion of using 487=4 (Reverse) but then again this is from a message chaining point of view.


TradeRepotType(856) = 7 ((Locked-In) Trade Break). Locked-In means that it has been confirmed one way or another. 6 = Trade Report Cancel is intended for the time period prior to finality of a trade.