Imported from previous forum
[ original email was from ron newell - rnewell@cme.com ]
Acknowledgement of a Order Mass Cancellation Request should be via Execution Report with ExecType=Pending Cancel or ExecType=Canceled.(Body text in 4.3 draft concurs with this.)
Body text also states, however, mass cancel request is acknowledged with Order Mass Cancel Report. This, however, would not be consistent with standard flow (defined above). … Does the Order Mass Cancel Report add value?
[ original email was from Jim Northey - jnorthey@lasalletech.com ]
Because the Order Mass Cancel is deemed to be used in extraordinary circumstances - almost like a panic button and because order cancellation can take a considerable amount of time - especially in floor based trading environments - The Order Mass Cancel Report was introduced to acknowledge that the counterparty was in receipt of the Order Mass Cancel Request and that it was being addressed.
> Acknowledgement of a Order Mass Cancellation Request should be via Execution Report with ExecType=Pending Cancel or ExecType=Canceled.(Body text in 4.3 draft concurs with this.)
>
> Body text also states, however, mass cancel request is acknowledged with Order Mass Cancel Report. This, however, would not be consistent with standard flow (defined above). … Does the Order Mass Cancel Report add value?
>