Imported from previous forum
Here is what I want to do :
There is an order I want to place. It has a regulation OrderQty that indicates the total qauntity of the order from my perspective.
And then there is a Displayed Quantity, which is the quantity from the perspective of the market .i.e, the order quantity others see on the market.
By doing this I can hide my intentions from others. My order gets executed slice by slice ( slice the size of displayed qty ) and no one can guess what actually qty I am trading.
To sum it all up, how can I communicate the Displayed Quantity to the sell side. What is the fix tag for it ?
Thanks.
From “Reserve Quantity Orders” within FIX 4.3 - Volume 4’s “Order Handling and Instructions Semantics”:
MaxFloor: Traditionally used to indicate reserve quantity. To indicate a single level of reserve quantity, MaxFloor should be used.
MaxShow: Used when two levels of reserve quantities are needed, e.g. one level displayed to the world (MaxFloor) and another displayed to subscribers of their ECN (MaxShow.) I.e. MaxFloor <= MaxShow <= OrderQty.
- One may place an order for 100,000 shares (OrderQty), only want 1000 shares shown to NASDAQ at any one time (MaxFloor), but will allow other subscribers of that ECN to see 5000 shares (MaxShow).
> Here is what I want to do :
>
> There is an order I want to place. It has a regulation OrderQty that indicates the total qauntity of the order from my perspective.
> And then there is a Displayed Quantity, which is the quantity from the perspective of the market .i.e, the order quantity others see on the market.
>
> By doing this I can hide my intentions from others. My order gets executed slice by slice ( slice the size of displayed qty ) and no one can guess what actually qty I am trading.
>
> To sum it all up, how can I communicate the Displayed Quantity to the sell side. What is the fix tag for it ?
>
> Thanks.
>
>
IS ANYBODY OUT THER 
…
HEEEEEEELLLLLPPPPPPPPPP !!!
> Here is what I want to do :
>
> There is an order I want to place. It has a regulation OrderQty that indicates the total qauntity of the order from my perspective.
> And then there is a Displayed Quantity, which is the quantity from the perspective of the market .i.e, the order quantity others see on the market.
>
> By doing this I can hide my intentions from others. My order gets executed slice by slice ( slice the size of displayed qty ) and no one can guess what actually qty I am trading.
>
> To sum it all up, how can I communicate the Displayed Quantity to the sell side. What is the fix tag for it ?
>
> Thanks.
>
>
Muhammad, I did answer your question. You must have overlooked that reply when you posted your "is anybody out there???".
The answer is below:
From “Reserve Quantity Orders” within FIX 4.3 - Volume 4’s “Order Handling and Instructions Semantics”:
MaxFloor: Traditionally used to indicate reserve quantity. To indicate a single level of reserve quantity, MaxFloor should be used.
MaxShow: Used when two levels of reserve quantities are needed, e.g. one level displayed to the world (MaxFloor) and another displayed to subscribers of their ECN (MaxShow.) I.e. MaxFloor <= MaxShow <= OrderQty.
- One may place an order for 100,000 shares (OrderQty), only want 1000 shares shown to NASDAQ at any one time (MaxFloor), but will allow other subscribers of that ECN to see 5000 shares (MaxShow).
>
> IS ANYBODY OUT THER …
> HEEEEEEELLLLLPPPPPPPPPP !!!
>
>
> > Here is what I want to do :
> >
> > There is an order I want to place. It has a regulation OrderQty that indicates the total qauntity of the order from my perspective.
> > And then there is a Displayed Quantity, which is the quantity from the perspective of the market .i.e, the order quantity others see on the market.
> >
> > By doing this I can hide my intentions from others. My order gets executed slice by slice ( slice the size of displayed qty ) and no one can guess what actually qty I am trading.
> >
> > To sum it all up, how can I communicate the Displayed Quantity to the sell side. What is the fix tag for it ?
> >
> > Thanks.
> >
> >
>