Imported from previous forum
In Fix 4.2 Spec order change matrix (D4/5), for the same order, a new ClOrdID will be used after a replace request is successfully made. How about the Order ID? Is it true that for any consecutive Pending Replace execution report, the Order ID should remain unchange?
To me, it seems a bit confused. For example, in Order Matrix D5, the last execution report will be using ClOrdID = Y (the newly assigned after the replaced). How about the Order ID? Should it be the same as the original Order ID?
What is the business meaning behind this? IS it contracting to have ClOrdID changes but Order ID remains the same after one (or more) successful replaced?
Thanks in advance
[ original email was from Ryan Pierce - rpierce@taltrade.com ]
> In Fix 4.2 Spec order change matrix (D4/5), for the same order, a new ClOrdID will be used after a replace request is successfully made. How about the Order ID? Is it true that for any consecutive Pending Replace execution report, the Order ID should remain unchange?
> To me, it seems a bit confused. For example, in Order Matrix D5, the last execution report will be using ClOrdID = Y (the newly assigned after the replaced). How about the Order ID? Should it be the same as the original Order ID?
> What is the business meaning behind this? IS it contracting to have ClOrdID changes but Order ID remains the same after one (or more) successful replaced?
The sell-side has the choice of keeping the same OrderID, or assigning a new unique OrderID, after a successful Cancel/Replace.
However, the buy-side must always assign a new unique ClOrdID for each Cancel/Replace (and Cancel).