How to "suspend" an order?

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1

Imported from previous forum

2

One of the order status is “suspended”. It is
referred to in the specs as “order has been placed
in suspended state at the request of the client”.
Now my problem is that I don’t see anything in
the specs about how to place an order in
suspended state… I must be missing something.
Anybody can point me in the right direction?

Thx!

MG.

3

[ original email was from Ryan Pierce - rpierce@taltrade.com ]
> One of the order status is “suspended”. It is
> referred to in the specs as “order has been placed
> in suspended state at the request of the client”.
> Now my problem is that I don’t see anything in
> the specs about how to place an order in
> suspended state… I must be missing something.
> Anybody can point me in the right direction?

I don’t think that this is very widely implemented, as in many cases it is easier simply to cancel an order and enter it again later.

I’d imagine that it could happen under the following cases:

  1. An out-of-band means (i.e. calling the broker) is used to request that the order be suspended and reinstated. Or it might happen automatically (assuming bilateral agreement to do so) as a result of the FIX connection dropping.

  2. One sends a Cancel/Replace setting the ExecInst=Suspend to suspend the order, and another Cancel/Replace without that ExecInst to reinstate it.

4

> > One of the order status is “suspended”. It is
> > referred to in the specs as “order has been placed
> > in suspended state at the request of the client”.
> > Now my problem is that I don’t see anything in
> > the specs about how to place an order in
> > suspended state… I must be missing something.
> > Anybody can point me in the right direction?
>
> I don’t think that this is very widely implemented, as in many cases it is easier simply to cancel an order and enter it again later.
>
> I’d imagine that it could happen under the following cases:
>
> 1. An out-of-band means (i.e. calling the broker) is used to request that the order be suspended and reinstated. Or it might happen automatically (assuming bilateral agreement to do so) as a result of the FIX connection dropping.
>
> 2. One sends a Cancel/Replace setting the ExecInst=Suspend to suspend the order, and another Cancel/Replace without that ExecInst to reinstate it.
>
>

I have just come across a similar requirement to implement the functionality to suspend an order via FIX.

As this posting is over 3 years old, has this become the accepted standard for suspending an order, or are there other methods in FIX 4.0 to FIX 4.2?

5

[ original email was from Andrey Koshelev - andreyk@ix.netcom.com ]
> > > One of the order status is “suspended”. It is
> > > referred to in the specs as “order has been placed
> > > in suspended state at the request of the client”.
> > > Now my problem is that I don’t see anything in
> > > the specs about how to place an order in
> > > suspended state… I must be missing something.
> > > Anybody can point me in the right direction?
> >
> > I don’t think that this is very widely implemented, as in many cases it is easier simply to cancel an order and enter it again later.
> >
> > I’d imagine that it could happen under the following cases:
> >
> > 1. An out-of-band means (i.e. calling the broker) is used to request that the order be suspended and reinstated. Or it might happen automatically (assuming bilateral agreement to do so) as a result of the FIX connection dropping.
> >
> > 2. One sends a Cancel/Replace setting the ExecInst=Suspend to suspend the order, and another Cancel/Replace without that ExecInst to reinstate it.
> >
> >
>
> I have just come across a similar requirement to implement the functionality to suspend an order via FIX.
>
> As this posting is over 3 years old, has this become the accepted standard for suspending an order, or are there other methods in FIX 4.0 to FIX 4.2?
>
>

I would think about using tag 168 (EffectiveTime)from FIX 4.2. At least Archipelago uses that tag to designate suspended order.

Andrey.