Imported from previous forum
I have quite a few questions and would really appreciate it if we could get some clarity on the flows. I work for a large financial services company in New York developing portfolio order management fix flows on the broker side.
They have to do with the order status change matrix in the Fix 4.2 specification and a one other message flow, it has started a lot of debate here.
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Submission of a New Order List, is the ack a List Status or an execution report for each order in the list? We are getting different requirements for different vendors / clients.
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After a done for day message, if one cancels an execution, is the order status on the cancelled execution done for day or partially filled? If the answer is done for day, in which case would a done for day order status change to partially filled, GTC orders?
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When canceling an execution on a done for day message, is the calculation for leaves quantity based on the original order quantity or the total cum quantity when the done for day was issued? i.e. We believe the leaves quantity = (cum quantity on the previous done for day message) - (cancelled quantity) on a cancel execution message issued after a done for day.
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For normal order flow (no done for day or cancel messages issued from the client) when a partially filled order has a cancel execution message that reduces the leaves quantity to 0 is the order status new or partial fill?
Any light on these subjects would be greatly appreciated.
Thank You,
S Evans