FOK/FAK - Can we have effective time set?

, ,
1

Imported from previous forum

2

I would like to know if we can have effective time set for FOK/FAK orders?
basically my system doesn’t understand effective time for such orders. Please explain me if thats expected.

Thanks in advance.

Cheers,
Ambar

3

I would question the business logic of such a request. It would mean that you get an instruction to put in an FOK/FAK order at a specific point in time. It is simply deferring the responsibility to trigger this order from the user to the exchange. In terms of performance, I am not sure if it is a good choice to support effective time…

The new Trigger component of FIX 5.0 only has events but not timestamps as to when to trigger something. That should be the standard, e.g. put in the FOK/FAK at the beginning of a specific trading sub-session.

Hope this helps,
Hanno.

I would like to know if we can have effective time set for FOK/FAK
orders? basically my system doesn’t understand effective time for such
orders. Please explain me if thats expected.

Thanks in advance.

Cheers, Ambar