Custom values for OrdStatus

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Imported from previous forum

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Hey everyone,

I’m interested in finding out as to how the community would react to the usage of a custom ordstatus value.

Basically I’m trouble when it comes to this particular scenario in my system where I have multiple child orders open for a single FIX order received. At this point if one of those sub-orders (which can be open in multiple markets simultaneously) can be cancelled. At this point I can’t seem to figure out what FIX order status to be used on the order which the user sent to my system.

So I’m about to define a custom ordstatus to handle the set of troublesome scenarios.

It would be great if anyone having handled a similar scenario to give me some direction.

Thanks,
Heshan.

3

I don’t think you need a custom order status because the Order Statuses provided by FIX is sufficient to handle the case you are mentioning.

Your inbound FIX Engine receives an Order O1 from a Buy side client. Your Trading application splits Order O1 into multiple smaller sub-orders S1,S2…SX, the sum total of these sub orders is equal to O1. These S1…SX are placed at multiple execution venues by your outbound FIX Engine. Then one of these sub-orders SN is cancelled. How is the cancel initiated ? Two scenarios

  1. Your FIX engine sends a cancel to the execution venue and the execution venue accepts the cancel request

  2. The execution venue sends an unsolicited Cancel.

Either way the sub-order SN is cancelled. The status of the original inbound Order O1 is not affected by the cancel of outbound sub-order SN.

At this point this sub-order SN is available to be sent to a different execution venue. So at this point do you want to send SN to a different execution venue.

Please correct me if I have misunderstood the scenario.

Hey everyone,

I’m interested in finding out as to how the community would react to the
usage of a custom ordstatus value.

Basically I’m trouble when it comes to this particular scenario in my
system where I have multiple child orders open for a single FIX order
received. At this point if one of those sub-orders (which can be open in
multiple markets simultaneously) can be cancelled. At this point I can’t
seem to figure out what FIX order status to be used on the order which
the user sent to my system.

So I’m about to define a custom ordstatus to handle the set of
troublesome scenarios.

It would be great if anyone having handled a similar scenario to give me
some direction.

Thanks, Heshan.