Parent Order ID?

, ,
1

Imported from previous forum

2

Is there a tag that currently exists in FIX that satisfies the following functionality?

In order for several of our clients to more easily use ECNs and Institutional Express, there is a need for ‘tying’ orders together into a Parent Order. (some call this a ticket). Traditionally, the ticket is given to the Institution first, and then worked. However, that appears likely to change with the increased use of ECNs and the rollout of IE.

Is there a FIX standard way of identifying an order as a ‘parent’ order (or ticket)? It seems to me that this would be a requirement for proper OATS reporting.

Thanks,
-Dan McCarthy

3

Is there a tag that currently exists in FIX that satisfies the following
functionality?

In order for several of our clients to more easily use ECNs and
Institutional Express, there is a need for ‘tying’ orders together into
a Parent Order. (some call this a ticket). Traditionally, the ticket is
given to the Institution first, and then worked. However, that appears
likely to change with the increased use of ECNs and the rollout of IE.

Is there a FIX standard way of identifying an order as a ‘parent’ order
(or ticket)? It seems to me that this would be a requirement for proper
OATS reporting.

Thanks, -Dan McCarthy

Hello Dan,
Did you ever find an answer to your question? If yes then what is the tag?
Sanjay.

4

Theres no tag. The situation you are describing is typically called program or basket trading.

Consult your fix documentation looking for “New Order List”

Mitchell Budwick
Budwick Investment Group Systems LLC

Is there a tag that currently exists in FIX that satisfies the
following functionality?

In order for several of our clients to more easily use ECNs and
Institutional Express, there is a need for ‘tying’ orders together
into a Parent Order. (some call this a ticket). Traditionally, the
ticket is given to the Institution first, and then worked. However,
that appears likely to change with the increased use of ECNs and the
rollout of IE.

Is there a FIX standard way of identifying an order as a ‘parent’
order (or ticket)? It seems to me that this would be a requirement for
proper OATS reporting.

Thanks, -Dan McCarthy

Hello Dan, Did you ever find an answer to your question? If yes then
what is the tag? Sanjay.