Imported from previous forum
Hi,
concerning confirmation of cancellations in response to a ‘CancelRequest’: Is it correct to set ExecTransType to 1 (CANCEL) in such a case?
I thought it should be 0 in this case since the status of the order changes… Can anybody give me a second opinion on this?
More generally, I’d also like to know when ExecTransType is set to 1 (CANCEL).
Stef.
There are two concepts here: 1) the Order and 2) an Execution (partial fill) for an order.
The Order Cancel Request message is used to request that the order be canceled. If the order is canceled, then the resulting Execution Report message would be ExecTransType=New and OrdStatus=Canceled (and in FIX 4.1 and above ExecType=Canceled). (Note that ExecTransType is not really providing any value in this situation and in FIX 4.3 we merged ExecTransType and ExecType together into ExecType only.)
The ExecTransType of Cancel indicates that a specific previously sent Execution Report (partial fill/fill) is being canceled (also known as "busted"). This Execution Report would identify the Execution Report which is being canceled via ExecRefID.
Please refer to the "Order State Change Matrices" in Appendix D in FIX 4.2 or in volume 4 in FIX 4.3 for more details/examples.
> Hi,
>
> concerning confirmation of cancellations in response to a ‘CancelRequest’: Is it correct to set ExecTransType to 1 (CANCEL) in such a case?
> I thought it should be 0 in this case since the status of the order changes… Can anybody give me a second opinion on this?
>
> More generally, I’d also like to know when ExecTransType is set to 1 (CANCEL).
>
> Stef.
>
>
IMHO, when you confirm a cancelrequest (sending an execution report back), the exectranstype should be set to 0 (New).
Cancel(1) and correct(2) are used when you want to cancel or correct a previously sent execution report (a fill with a wrong quantity for instance)
I am not too sure about status(3). This seems to be used when you need to send an execution report again
> Hi,
>
> concerning confirmation of cancellations in response to a ‘CancelRequest’: Is it correct to set ExecTransType to 1 (CANCEL) in such a case?
> I thought it should be 0 in this case since the status of the order changes… Can anybody give me a second opinion on this?
>
> More generally, I’d also like to know when ExecTransType is set to 1 (CANCEL).
>
> Stef.
>
>
ExecTransType=Status is used to indicate the overall status of the order. This can be solicited via an Order Status Request message or sent unsolicited.
> IMHO, when you confirm a cancelrequest (sending an execution report back), the exectranstype should be set to 0 (New).
> Cancel(1) and correct(2) are used when you want to cancel or correct a previously sent execution report (a fill with a wrong quantity for instance)
> I am not too sure about status(3). This seems to be used when you need to send an execution report again
>
> > Hi,
> >
> > concerning confirmation of cancellations in response to a ‘CancelRequest’: Is it correct to set ExecTransType to 1 (CANCEL) in such a case?
> > I thought it should be 0 in this case since the status of the order changes… Can anybody give me a second opinion on this?
> >
> > More generally, I’d also like to know when ExecTransType is set to 1 (CANCEL).
> >
> > Stef.
> >
> >
>