Imported from previous forum
We are implementing a feature by which user can accept/decline a trade. When a user posts offerings on the platform, he can indicate the order is either "autoexec" or "subject". If the offering is autoexec then we will automatically execute the trade at the time of a match. If the offering is subject, then we will notify the user and they will have a several minutes to accept or decline the trade.
To achieve this we will create a ‘pending’ status for a deal. We are trying to figure the optimal way of handling the autoexec/subject indication in FIX and we are trying to decide what message should be used to accept or decline a trade after a pending deal execution report is received.
Can we use ‘HandlInst’ field in ‘New Order’ message to indicate ‘subject’ orders ? Or do we need to use a custom field ?
Any thoughts will be appreciated.
Thanks
Manjuram