Order status change when order trades immediately

, ,
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Imported from previous forum

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When an order entered into a market is matched immediately (i.e. it is either filled or partially filled), should this be reported as:

a) an Execution Report with Order Starus = ‘New’, followed by an Execution Report with Order Status = ‘Filled’ (or ‘Partialy Filled’). This means an order status transition from ‘Pendign New’ to ‘New’ and then to ‘Filled’ (or Partially Filled’).

or

b) A single Execution Report with Order Status = ‘Filled’ (or ‘Partially Filled’). That is, omit sending Execution Report with Order Status = ‘New’. This means an order status transition from ‘Pendign New’ straight to ‘Filled’ (or Partially Filled’).

or are they both acceptable.

3

[ original email was from Ryan Pierce - rpierce@taltrade.com ]
> a) an Execution Report with Order Starus = ‘New’, followed by an Execution Report with Order Status = ‘Filled’ (or ‘Partialy Filled’). This means an order status transition from ‘Pendign New’ to ‘New’ and then to ‘Filled’ (or Partially Filled’).

This is what you need to do. New is a required state the order must transition through (see Appendix D).