DAY + FOK fields?

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1

Imported from previous forum

2

[ original email was from Saraswati R - saraswati_r@yahoo.com ]
Hi!

How can I incorporate more than one value of Tag#59 (TimeInForce) in the same message?
eg. 59=0 (DAY) as well as 59=4(FOK)

thanks,
Saraswati

3

[ original email was from Saraswati R - saraswati_r@yahoo.com ]
What I have found out is:

An order with FOK implies that the order be executed in a timespan much shorter than a DAY, possibly in minutes. Therefore a need to give DAY with FOK does not arise.
If there is a different interpretation, please let me know.
thanks,
Saraswati

> Hi!
>
> How can I incorporate more than one value of Tag#59 (TimeInForce) in the same message?
> eg. 59=0 (DAY) as well as 59=4(FOK)
>
> thanks,
> Saraswati
>

4

[ original email was from John Armstrong - johna@ms.com ]
You are correct. If you want a Day order that
must be completely filled or none at all, use
the AllOrNone order instruction.

> What I have found out is:
>
> An order with FOK implies that the order be executed in a timespan much shorter than a DAY, possibly in minutes. Therefore a need to give DAY with FOK does not arise.
> If there is a different interpretation, please let me know.
> thanks,
> Saraswati
>
>
> > Hi!
> >
> > How can I incorporate more than one value of Tag#59 (TimeInForce) in the same message?
> > eg. 59=0 (DAY) as well as 59=4(FOK)
> >
> > thanks,
> > Saraswati
> >
>

5

> Hi!
>
> How can I incorporate more than one value of Tag#59 (TimeInForce) in the same message?
> eg. 59=0 (DAY) as well as 59=4(FOK)
>
> thanks,
> Saraswati
>

Why would you want to do this? When is an FOK not a day order? Actually, we have the same situation and I have recently been asking myself the exact same question. In our system FOK’s are considered to be DAY orders too, but since there can be no other combination we handle it programatically.