OrdStatus for marketable orders

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Imported from previous forum

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Does the specification require that an execution report indicating a status of "New" be returned for orders that are immediately marketable? Is it sufficient to send an execution report communicating the Fill (or partial fill)?

Thanks,

Jim

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[ original email was from Stratos Efstratiou - sefstratiou@javtech.com ]
> Does the specification require that an execution report indicating a status of "New" be returned for orders that are immediately marketable? Is it sufficient to send an execution report communicating the Fill (or partial fill)?
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> Thanks,
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> Jim
>

The specification requires an execution report to be sent in response to an order with its current status. If the order was "immediately" Filled or Partial Filled, then its current status should be sent. If the order was not Filled or Partial Filled when recieved, then a status of New should be sent to acknowledge the order was recieved.

Strat…

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[ original email was from Mark Hinman - mhinman@easetech.com ]
> The specification requires an execution report to be sent in response to an order with its current status. If the order was "immediately" Filled or Partial Filled, then its current status should be sent. If the order was not Filled or Partial Filled when recieved, then a status of New should be sent to acknowledge the order was recieved.
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> Strat…
>
>
>

The FIX 4.2 spec state (Page 98 Exec Reports):
Execution information (e.g. new partial fill or complete fill) should not be communicated in the same report as one which communicates other state changes (such as pending cancel, pending replace, canceled, replaced, accepted, done for day etc).

The order must be accepted then filled.