Handling instruction

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Imported from previous forum

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Why is the handling instruction in a FIX new single order message mandatory?

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Thats because, without handling instruction the order is just placed without knowing how to execute, even though different ways to execute are available! Each way of execution (Handling instruction) has its own merits and demerits on a given instance of time, which depends on the market condition! So, the one, who places the order must decide which way to gamble!!! Becuase, its ultimately his own money!

Thanks & Regards,
Sathya

> Why is the handling instruction in a FIX new single order message mandatory?
>

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Handling Instance is required only by FIX not by brokers or exchanges.Some of the ECN’s (eg: ISE) ignores this field - as they are sure its an automated execution. Some ECN’s (ISLAND) prefers it always to be 1(Automated execution). Also brokers who deal manual executions ignore this field as they are sure its of type 3(Manual Order).

Thanks
Vijay.

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> Thats because, without handling instruction the order is just placed without knowing how to execute, even though different ways to execute are available! Each way of execution (Handling instruction) has its own merits and demerits on a given instance of time, which depends on the market condition! So, the one, who places the order must decide which way to gamble!!! Becuase, its ultimately his own money!
>
>
> Thanks & Regards,
> Sathya
>
> > Why is the handling instruction in a FIX new single order message mandatory?
> >
>