quantity fields and order ID in execution report generated by exchange initiated trade correction

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Imported from previous forum

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[ original email was from Dennis Wiatzka - dennis.wiatzka@computershare.com ]
Hello,

Given:
FIX submitted sell order, 10,000 AAA @ $3, ClOrderId order1
Exec Rpt order1 accepted, OrderQty 10,000, CumQty 0, LeavesQty 10,000, OrderId 1
FIX submitted buy order, 1,500 AAA @ $3, ClOrderId order2
Exec Rpt order2 accepted, OrderQty 1,500, CumQty 0, LeavesQty 1,500, OrderId 2
Exec Rpt order1 partially filled, OrderQty 10,000, CumQty 1,500, LeavesQty 8,500, LastShares 1,500, OrderId 1
Exec Rpt order2 filled, OrderQty 1,500, CumQty 1,500, LeavesQty 0, LastShares 1,500, OrderId 2

Exchange now does a trade edit which changes the volume of the trade from 1,500 to 1,000. Exchange creates a new order chain internally to represent this action and reports it as follows:
Exec Rpt order1 removed/replaced, OrderQty 1,000, CumQty 1,000, LeavesQty 0, LastShares 1,000, OrderId 3
Exec Rpt order2 removed/replaced, OrderQty 1,000, CumQty 1,000, LeavesQty 0, LastShares 1,000, OrderId 4

Does this appear to be the correct behaviour? If not:

  1. What values should the quantity fields contain in such a scenario? (e.g.- OrderQty 10,000/1,500, LeavesQty 8,500/0, LastShares 1,000/1,000 and CumQty 1,000/1,000 respectively?)
  2. Should the OrderId’s in these execution reports be respectively the same as the previous two execution reports (order1/order2)instead of the new exchange generated OrderId’s (order3/order4)?

Thank you for your time,

Dennis Wiatzka
Computershare
dennis.wiatzka@computershare.com