Imported from previous forum
On a "Pending New" Execution Report (150=A, 39=A) in FIX 4.2, should the LeavesQty (tag 151) be zero (0)? There are no executable (open) shares when that message is generated. The LeavesQty description in the specification lists OrdStatus values where the LeavesQty could be 0, but does not include "Pending New".
Thank you.
LeavesQty expresses the quantity of the order that is left for execution. As long as nothing from the total quantity has been executed (which is the case for order status "Pending New"), LeavesQty is identical to the total quantity (OrderQty). The field does not express how much of the quantity is currently visible in the market. There is a reason why the description does not include Pending New, it belongs to the phrase after "otherwise", i.e. LeavesQty = OrderQty (38) - CumQty (14).
Leaves qty (tag 151) can be equal to Total qty (tag 38) but the cumulative qty (tag 14) should be 0.