Imported from previous forum
Hi All,
Just want to see what should be the common way in the industry to specify a low-touch (execution only) order in the new single order message under 4.2 and 4.4?
Thanks
Usually such order would carry tag 21 (HandlInstr) = 1 (automated execution, no broker intervention).
Yuri
Hi All,
Just want to see what should be the common way in the industry to
specify a low-touch (execution only) order in the new single order
message under 4.2 and 4.4?Thanks
Thanks for your reply. However I think the way what you’re describing is for DMA flow. From what I understand a low-touch order is something between DMA and nornmal worked order. Any more idea or comment?
Usually such order would carry tag 21 (HandlInstr) = 1 (automated
execution, no broker intervention).Yuri
Hi All,
Just want to see what should be the common way in the industry to
specify a low-touch (execution only) order in the new single order
message under 4.2 and 4.4?Thanks
HandlInstr was mandatory in 4.2 and is optional in 4.4. It is more applicable to floor exchanges and not really needed for electronic exchanges with a central matching engine.
The term “low-touch” itself is secondary and might have more than one interpretation. What is your business requirement behind it that you are trying to model? Do you require some form of manual handling and what is the exact information you need to convey? The answer to these questions should guide you to the relevant fields and values to use.
Thanks for your reply. However I think the way what you’re describing is
for DMA flow. From what I understand a low-touch order is something
between DMA and nornmal worked order. Any more idea or comment?Usually such order would carry tag 21 (HandlInstr) = 1 (automated
execution, no broker intervention).Yuri
Hi All,
Just want to see what should be the common way in the industry to
specify a low-touch (execution only) order in the new single order
message under 4.2 and 4.4?Thanks