FIX 4.0 Pending Cancel replace

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Imported from previous forum

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[ original email was from Eric Gottesman - eric@agentidea.com ]
Yet another question regarding ClOrdID in execution reports for FIX 4.0.

New Order Single working:
ClOrdID = X

Cancel request:
ClOrdID = Y, OrigClOrdID = X

Execution report (OrdStatus=pending cancel):
ClOrdID = ? (I think it should be X)

Execution report (OrdStatus=canceled):
ClOrdID = X

Some of the 4.0 documentation refers to an OrdStatus=“New” for ClOrdID=Y, but this doesn’t
make as much sense, especially having knowledge of
FIX 4.1/4.2. Is their general agreement or “best practices” with regards to this issue?
Thanks,

Eric Gottesman
AgentIdea, LLC
212-430-9245
eric@agentidea.com

3

This is discussed in the "FIX 4.0 Orderflow Clarification" document which can be found in the Specifications/Drafts section of this website.

I know the document recommends sending the execution report with ordstatus = NEW and ClOrdID = Y, but if you are implementing this, I would recommend making the response configurable by TargetCompID because some firms might require the
pending cancel message but not be able to handle the NEW message and vica versa.

> Yet another question regarding ClOrdID in execution reports for FIX 4.0.
>
> New Order Single working:
> ClOrdID = X
>
> Cancel request:
> ClOrdID = Y, OrigClOrdID = X
>
> Execution report (OrdStatus=pending cancel):
> ClOrdID = ? (I think it should be X)
>
> Execution report (OrdStatus=canceled):
> ClOrdID = X
>
> Some of the 4.0 documentation refers to an OrdStatus=“New” for ClOrdID=Y, but this doesn’t
> make as much sense, especially having knowledge of
> FIX 4.1/4.2. Is their general agreement or “best practices” with regards to this issue?
> Thanks,
>
> Eric Gottesman
> AgentIdea, LLC
> 212-430-9245
> eric@agentidea.com
>
>
>