Imported from previous forum
My queries are with respect to the usage of ClOrdID (tag 11 and OrigClOrdID (tag 41) in Order Cancel / Replace request , Order Cancel request and Execution report messages.
According to the FIX convention, sub sequent requests for cancellation or modification of an order will refer to a new value for ClOrdID and the previous value will be OrgClOrdID.
Our application STRIDE is an Exchange trading system.
In STRIDE when a New order is received from a member, we keep track of the Client Order reference ID which is sent with the New Order request and associate it with a unique order ID which is generated by the exchange.
So in handling any order modification/ cancellation requests and the responses ie execution reports to these, we specify that ClOrdID will be ignored and require that the OrgClOrdID always contains the ClOrdID of the New Order. Since the STRIDE ie the exchange system also uniquely identifies an order through the OrderID, that field is also made mandatory for cancel and modfication requests. All responses for order cancel and modification requests ie the execution reports will also not contain the ClOrdID sent for the request but will contain the original ClOrdID of the order in both the ClOrdID field and the OrigClOrdID field.
My questions.
Is this a major deviation from the standard behaviour?
Will firms having standard FIX 4.2 engines be impacted i.e. will standard FIX engines be able to handle such a deviation or will such message result in rejects or inability to send order modifications and cancellations.
Would appreciate feedback on this issue.
Thanks in advance
Prakash
prakashn@elind-india.com
Elind Computers Ltd