Execution Report to indicate partial amends in FIX 4.1

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Imported from previous forum

2

Hi,

Would you know in FIX 4.1, how can a sell side send back an Execution Report to indicate the amendment is only partly successful ? That is , for example, if order qty is 2500 and the amend request is to reduce the qty to 1000 and during the amend process, the exchange has filled 1500, should we use OrderQty (tag 38) and LeavesQty (tag 151) in the amend confirmation Exectuion Report to indicate a partial amendment has taken place ? i.e. OrderQty = LeavesQty = 1500 instead of 1000 ?

Thanks

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[ original email was from Daniel Saad - dsaad@transacttools.net ]
> Hi,

Would you know in FIX 4.1, how can a sell side send back an Execution
Report to indicate the amendment is only partly successful ? That is ,
for example, if order qty is 2500 and the amend request is to reduce the
qty to 1000 and during the amend process, the exchange has filled 1500,
should we use OrderQty (tag 38) and LeavesQty (tag 151) in the amend
confirmation Exectuion Report to indicate a partial amendment has taken
place ? i.e. OrderQty = LeavesQty = 1500 instead of 1000 ?

Thanks

David,

This scenario is well defined in case D12 of the 4.2 Order State Change Matrices. This should be applicable to 4.1 message flow.

Your Execution Report should have the Order Qty reflect the partially filled amount and LeavesQty is 0 (38=150, 151=0).

Daniel Saad
TransactTools-New York
www.transacttools.net
+1.212.244.5551

4

Hi,

Would you know in FIX 4.1, how can a sell side send back an Execution
Report to indicate the amendment is only partly successful ? That is ,
for example, if order qty is 2500 and the amend request is to reduce
the qty to 1000 and during the amend process, the exchange has filled
1500, should we use OrderQty (tag 38) and LeavesQty (tag 151) in the
amend confirmation Exectuion Report to indicate a partial amendment
has taken place ? i.e. OrderQty = LeavesQty = 1500 instead of 1000 ?

Thanks

David,

This scenario is well defined in case D12 of the 4.2 Order State Change
Matrices. This should be applicable to 4.1 message flow.

Your Execution Report should have the Order Qty reflect the partially
filled amount and LeavesQty is 0 (38=150, 151=0).

Daniel Saad TransactTools-New York www.transacttools.net +1.212.244.5551

Adding to Daniel’s reply,the ideal way to handle this as per FIX is by accepting the cancel/replace with the following messages - 14=1500,38=1500,39=2,150=5 & 151=0

Srivatsa.