modify order to AON after partial

, ,
1

Imported from previous forum

2

[ original email was from Ryan Dunn - ryan@ryandunn.us ]

Can an order be modified to AON after a partial has already been sent on the original? For example:

new order Limit 100 msft <— This is NOT an AON
partial fill 20
cancel replace to AON

Should this be allowed or should a Cancel reject be sent?

3

[ original email was from Rikard Hedberg - rikard.hedberg@omxgroup.com ]
Ryan,

I doubt many execution systems would accept a change to AON for an order that is partially filled, but it is something you need to verify with the receiver of the order. There is also the MinQty (110) that could be used for the same purpose, but again you need to find out if and how the receiver handles that field on a modified and partially filled order. E.g. are you to provide MinQty = 100 or 80 on the order modification?

Regards

Rikard

Can an order be modified to AON after a partial has already been sent on
the original? For example:

new order Limit 100 msft <— This is NOT an AON partial fill 20 cancel
replace to AON

Should this be allowed or should a Cancel reject be sent?