Imported from previous forum
Hi all,
Given the below scenario:
Client sends through a Stop Limit order to a broker.
The order sits on teh Brokers OMS and a process monitors the mkt price of a specific security until the Stop price is met at which point the OMS enters the order onto the exchange as a Limit order.
When the Stop price is met and the OMS sends the order into the Mkt;
Q) Should the client get a notification that the Stop order has been triggered, via FIX???
Personally I Do Not believe the notification of OrderType change should be sent out via FIX and I have never seen an OMS do this until recently so I’m thinking this might be a bug.
Shouldn’t the state of a SL order be held within the OMS and not be advertised?
I now work with an OMS that does notify the client and it results in an unsolicited order amend where OrderType will change from 40=4 to 40=2 and a 50/50 chance of being DK’d unless the client accepts unsolicited amends.
Kind Regards
jgap
Duplicated.
http://fixprotocol.org/discuss/read/7e4deb72
Hi all,
Given the below scenario:
Client sends through a Stop Limit order to a broker.
The order sits on teh Brokers OMS and a process monitors the mkt price of a specific security until the Stop price is met at which point the OMS enters the order onto the exchange as a Limit order.When the Stop price is met and the OMS sends the order into the Mkt;
Q) Should the client get a notification that the Stop order has been triggered, via FIX???
Personally I Do Not believe the notification of OrderType change should be sent out via FIX and I have never seen an OMS do this until recently so I’m thinking this might be a bug.
Shouldn’t the state of a SL order be held within the OMS and not be advertised?
I now work with an OMS that does notify the client and it results in an unsolicited order amend where OrderType will change from 40=4 to 40=2 and a 50/50 chance of being DK’d unless the client accepts unsolicited amends.
Kind Regards
jgap