Imported from previous forum
[ original email was from Saraswati R - saraswati_r@yahoo.com ]
Hi!
I would like to know how CashOrderQty is used? Are there any restictions on its usage?
Does the presence of CashOrderQty in an Order message imply that the order is a Market Order? Can it be otherwise?
Thanks,
Saraswati
CashOrderQty was added in FIX 4.1 to the Order message in order to allow (under bi-lateral agreement) the ability for one to express a share-based order in monetary units (e.g. Buy $100,000 worth of IBM). The broker would be required maintain the conversion/rounding rules and convert the monetary value into a share quantity. From that point on, a share-based OrderQty is established the ExecutionRpt reflects OrderQty, LastShares, CumQty, etc. in share amounts.
> Hi!
>
> I would like to know how CashOrderQty is used? Are there any restictions on its usage?
> Does the presence of CashOrderQty in an Order message imply that the order is a Market Order? Can it be otherwise?
>
> Thanks,
> Saraswati
>