clorderid in cancel done message

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Imported from previous forum

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[ original email was from Asim Kaleem - asimletters@yahoo.com ]
In cancel done message (35=8, 39=4), What if the sell side firm doesnt sends NEW clorderid back in tag 11? and sends the origorder id there (that is usually sent in 41 in cancel done messagE).
because i have seen a few buy side systems doesnt care of the tag 11 in cancel done message but look for tag 41 to cancel their order internally.

can any 1 pl explain the usefullness of tag 11 (new clorderid in it) in cancel done message?
Thanks

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[ original email was from Mahesh Kumaraguru - mahesh.kumaraguru@polaris.co.in ]
> In cancel done message (35=8, 39=4), What if the sell side firm doesnt

sends NEW clorderid back in tag 11? and sends the origorder id there
(that is usually sent in 41 in cancel done messagE). because i have seen
a few buy side systems doesnt care of the tag 11 in cancel done message
but look for tag 41 to cancel their order internally.

can any 1 pl explain the usefullness of tag 11 (new clorderid in it) in
cancel done message? Thanks

Hi Asim Kaleem,

Tag 11 ( ClOrdID ) is Required for executions against electronically submitted orders.

Tag 41 ( OrigClOrdID ) is Conditionally required for response to an electronic Cancel or Cancel/Replace request.

Thus Cancel done messages should always populate Tag 41. The buy side OMS can use the order Id in Tag 41 to cancel its order internally ( The original client order is to be cancelled ).

Tag 11 is important in Partially Filled / Filled / Done for day messages where the buy side OMS uses order Id in Tag 11 to match executions against the current order ( which may be after a cancel/replace - so here client order Id is used, not the Original client order id ).

Thus Tag 41 is not important in Partially Filled / Filled / Done for Day messages & Tag 11 is not important in response to Cancel & CancelReplace requests.

This may sound a bit confusing - one type of execution report requires Tag 11 and another type of execution report requires Tag 41.

Regards,
K. Mahesh
+1-203-890-7981