Imported from previous forum
The Global Technical Committee has reviewed and preliminarily approved the Risk Management WG OrdRej Reason Proposal. The Risk Management Working Group’s proposal adds a new order rejection reason to the OrdRejReason(103) field. The new reason code will allow the sell-side to communicate to their customer that their algorithmic order has triggered an algorithmic risk event.
The document now enters a public comment period in which public review and feedback is encouraged. Once the public comment period closes, the Global Technical Governance Board will meet to review public comments before final approval.
Please post feedback, comments, and questions as replies to this discussion thread.
A link to the proposal can be found at:
http://www.fixprotocol.org/documents/6449/Risk%20Mgmt%20WG%20OrdRejReason%20Extension%20Rev0.1.docx
The public comment period ends on March 2, 2012.