Imported from previous forum
Dear all:
I would like to address the an issue of compatibility of lists and multi leg orders. Further, it may be beneficial to have a simple way of submitting orders as in new order single and at the same time ability to group them for purposes of cancellation. In addition, usage of “New Order List” implies transmission of a large message, which adds risks to a preformance (the message will not be delivered until all packets are delivered).
I would like to suggest adding ClOrdLinkID (tag 583) to “Order Mass Cancel Request”, Mass …Status / Cancel Report, Mass … status request, Mass … action request etc.
This will allow group orders in a custom way (any way a client may wish) without an extra overhead / extra implementation hurdles (e.g. lists) and cancel them in bulk.
Please note (existing) implications - a reject of an order, which is a part of a wave / such list is rejected, it does not impact the rest of orders. Results are of each order are provided seperately.
Everybody’s thoughts are welcomed.
Natan
Natan,
I think this would fit into the existing mass order handling concepts. The fields MassCancelRequestType, MassStatusReqType and MassActionScope could be extended with a value to define “All orders for a ClOrdLinkID”. The field ClOrdLinkID needs to be part of the request/report messages related to mass handling of orders.
You would need to compile a standard FIX Gap Analysis and submit it to one of the working groups of committees, for example the Global Exchanges and Markets Committee. You present it there for discussion after which it can be forwarded to the Global Technical Committee for formal approval.
Please let me know if you have any questions regarding the standard process. FPL depends on volunteers to move the standard forward. Having a good idea is one thing, seeing it through to an actual extension of the FIX standard requires some effort and time. Taking ownership has the benefit of receiving credit…
Regards,
Hanno.
Dear all: I would like to address the an issue of compatibility of
lists and multi leg orders. Further, it may be beneficial to have a
simple way of submitting orders as in new order single and at the
same time ability to group them for purposes of cancellation. In
addition, usage of “New Order List” implies transmission of a large
message, which adds risks to a preformance (the message will not be
delivered until all packets are delivered). I would like to suggest
adding ClOrdLinkID (tag 583) to “Order Mass Cancel Request”, Mass
…Status / Cancel Report, Mass … status request, Mass … action
request etc. This will allow group orders in a custom way (any way a
client may wish) without an extra overhead / extra implementation
hurdles (e.g. lists) and cancel them in bulk. Please note (existing)
implications - a reject of an order, which is a part of a wave / such
list is rejected, it does not impact the rest of orders. Results are
of each order are provided seperately. Everybody’s thoughts are
welcomed. Natan