Imported from previous forum
According to the FIX protocol, it looks to be possible to amend an order after it has been Filled.
Is there any Order Statut (or an other Tag) in the Execution Report that the “Sell Side” can send to the “Buy Side” to say “The order is Filled and it’s done, it can not be amended any more” ?
Christophe BULLIER
Exane
[ original email was from Ryan Pierce - rpierce@taltrade.com ]
> According to the FIX protocol, it looks to be possible to amend an order after it has been Filled.
>
> Is there any Order Statut (or an other Tag) in the Execution Report that the “Sell Side” can send to the “Buy Side” to say “The order is Filled and it’s done, it can not be amended any more” ?
That is correct. FIX allows the re-opening of a filled order, by doing a cancel/replace that increases the quantity.
Now just because FIX allows a specific business function doesn’t mean that a user of the FIX protocol is forced to implement it. If you cannot support re-opening a filled order (which I think is probably true for quite a lot of FIX users) then you can send a Cancel Reject if the customer tries to do so.