Fault Handling

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1

Imported from previous forum

2

Hi,

I want some information on how FIX deals with faults. When an invalid order or some invalid message is sent how does the receiver acknowledge the sender?

Thanks

Best Regards,
Hiranya

3

I want some information on how FIX deals with faults. When an invalid
order or some invalid message is sent how does the receiver acknowledge
the sender?

It depens very much on what the fault is, but receivers will indicate the fault via an appropriate message.

If for example an invalid order is received, an execution message with a “rejected” order status should be sent. For an invalid quote request a quote request reject.

DK (Don’t Know Trade) messages can be sent if you receive executions for a trade that you do not recognise.

Business Level Rejects can be used if the message is correct from a session point of view, but there is not a more specific message that you can use.

Session Level Rejects are if the message really makes no sense at all :slight_smile:

George

At a higher level, if you cannot be specific a business level reject can be sent. Examples would be