Imported from previous forum
An execution report with ExecTransType = "Status" is used for exactly what purpose?
I am sure it is not for reporting the status of an order. We have ExecType and OrdStatus for that purpose.
Can someone please explan?
Thanks.
Nik
[ original email was from Ryan Pierce - rpierce@taltrade.com ]
> An execution report with ExecTransType = "Status" is used for exactly what purpose?
>
> I am sure it is not for reporting the status of an order. We have ExecType and OrdStatus for that purpose.
>
> Can someone please explan?
These are usually sent in response to Status Requests. In this case, all they do is verify parameters about the order, such as CumQty, AvgPx, OrdStatus, etc.
I believe there are other uses, i.e. some systems may send them if you send a Poss Resend order that already exists, or in a case where the other side is translating FIX to CMS and wants to send a Nothing Done.
OrdStatus tells you "what" the order status is. ExecTransType of Status tells you that this Execution Report is simply conveying order status vs. communicating a change in order status (e.g. "New", "Partially Filled", "Filled", "Done For the Day", etc.) Note that ExecType was added in in FIX 4.1 and ExecTransType=Status has been in FIX since the beginning.
Execution Reports with ExecTransType=Status are the the response to an Order Status Request message. They can also be sent unsolicited.
> > An execution report with ExecTransType = "Status" is used for exactly what purpose?
> >
> > I am sure it is not for reporting the status of an order. We have ExecType and OrdStatus for that purpose.
> >
> > Can someone please explan?
>
> These are usually sent in response to Status Requests. In this case, all they do is verify parameters about the order, such as CumQty, AvgPx, OrdStatus, etc.
>
> I believe there are other uses, i.e. some systems may send them if you send a Poss Resend order that already exists, or in a case where the other side is translating FIX to CMS and wants to send a Nothing Done.
>
>