Forex: OCO (one cancels the other) Orders

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1

Imported from previous forum

2

Hi,

How can we create OCO Orders (such as one for limit & one for stop) by using FIX 4.4?
Should i use New Order Multileg message type for them?
Could I get any sample message?

Thanks for help in advance.
TUN

3

[ original email was from Rikard Hedberg - rikard.hedberg@omxgroup.com ]
Tun,

there is currently no standard way to handle OCO, OTO and similar contingent orders in FIX. There is however ongoing work to extend FIX with this ability. The current direction of this work is based on using the New Order List message, but there is still more analysis to be done and no decisions have been made.

Regards

Rikard

4

Hi

We use orderlist (one limit and one stop)
we ack or reject each order (separately)
Internally our systems links them
If either one gets cancelled them the system cancels both parts

If anything is wrong with either order in the order list- then the list get bus mess rejected as a whole and it does not reach the om system

You can use a field (such as 69) to indicate its an “OCO”

hth
Byron

Hi,

How can we create OCO Orders (such as one for limit & one for stop) by
using FIX 4.4? Should i use New Order Multileg message type for
them? Could I get any sample message?

Thanks for help in advance. TUN