Clarifying correct order status value in the FIX 4.2 spec Appendix D

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Imported from previous forum

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Just want to confirm if OrdStatus value in case D12 in FIX 4.2 spec (dated Jan 24, 2000) Appendix D Time 3 is the correct value. There, it is showing Partially Filled. I wonder if it should be Pending Replace instead as Partially Filled as Pending Replace has a higher precedence value (11) than Partially Filled (4). If we check a similar case in Time 6 of case D4, we set OrdStatus to Pending Cancel and not Partially Filled there.

Thanks.

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David,

The scenario you are referring to is actually crossing on the wire.i.e. tthe Replace Request and the Partial fill ER cross each other at the same time and hence the counterparty’s application does not have enough time to respond with the correct order status as per status precedence rules. Even in the other refernce that you have quoted for D4 time 6, I would request you to look at time 4 of the same D4 wherein also the scenario is exactly the same as in D12 Time 3. Hope that clarifies.

Regards,
Sunil

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David,

The scenario you are referring to is actually crossing on the wire.i.e.
tthe Replace Request and the Partial fill ER cross each other at the
same time and hence the counterparty’s application does not have enough
time to respond with the correct order status as per status precedence
rules. Even in the other refernce that you have quoted for D4 time 6, I
would request you to look at time 4 of the same D4 wherein also the
scenario is exactly the same as in D12 Time 3. Hope that clarifies.

Regards, Sunil

Hi Sunil,

So can we say that as long as the counterparty has responded with a pending replace message (ExecType=Pending Replace with LastShares=0) then the correct OrderStatus for any fill ER (i.e. LastShares > 0)should be Pending Replace until the replace is successfully completed. At this point, OrdStatus becomes either Filled (LeavesQty=0) or Partially Filled (LeavesQty > 0). Given in D12, counterparty never responded with ExecType=Pending Replace so the above does not apply. Thanks again.

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David,

As per order precedence rules whatever you have tried to explain is correct. with reference to D12 the rquest and partial fill cross on the wire whereas the subsequent ER is the filled ER and is assuming this request to be accepeted and hence Exec Type is equal to Replaced and not pending replace. If you refer to my previous replay w.r.t. D4, you will find the same what u have tried to explain me now.

Regards,
Sunil