Order Status in Cancel Reject message and ExecId format

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Imported from previous forum

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[ original email was from Patrice Herve - patrice.herve@ota.fr.socgen.com ]
Two questions related to the FIX 4.1 spec:

  1. In the Cancel Reject message, the Order Status field should reveal the Order Status after the cancel reject is applied.
    Does it mean that, if the order was in status New before the Cancel Request, in the Cancel Reject message, the Order Status is New (39=0) as the order will be in status New after the Cancel Reject?
    Ex:
    Order in status New (39=0)
    -> Cancel Request received on this order
    Exec Report sent with status P.Can/Rep (39=6)
    Then Cancel Reject sent (39=0)
    Order is now in status New (39=0)

  2. About the ExecId format, if multi-day orders are managed, the spec says that "Firms should consider embedding a date within the ExecId".
    Is YYYYMMDD-123456 a correct format? (where 123456 is an unique ID per day).

Thanks a lot for your help/advices.

Patrice Herve
SG Securities Paris

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[ original email was from John Armstrong - johna@ms.com ]
You are correct in both cases. A cancel reject
will usually return an order to it’s previous
state with the exception of a state change event
that occurred during the PendingCancel state.
For example, a complete fill was reported while
the order is in PendingCancel state and then the
CancelReject is reported - in which case the state
is now Filled.

The ExecID format is good, there is no defined
format, only the requirement that an ExecID
is unique in the agreed upon scope i.e. Day or
multi-Day.

> Two questions related to the FIX 4.1 spec:
>
> 1) In the Cancel Reject message, the Order Status field should reveal the Order Status after the cancel reject is applied.
> Does it mean that, if the order was in status New before the Cancel Request, in the Cancel Reject message, the Order Status is New (39=0) as the order will be in status New after the Cancel Reject?
> Ex:
> Order in status New (39=0)
> -> Cancel Request received on this order
> Exec Report sent with status P.Can/Rep (39=6)
> Then Cancel Reject sent (39=0)
> Order is now in status New (39=0)
>
> 2) About the ExecId format, if multi-day orders are managed, the spec says that "Firms should consider embedding a date within the ExecId".
> Is YYYYMMDD-123456 a correct format? (where 123456 is an unique ID per day).
>
> Thanks a lot for your help/advices.
>
> Patrice Herve
> SG Securities Paris
>