Rejecting an Order List

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1

Imported from previous forum

2

[ original email was from Hadil G. Sabbagh - ]
I would like to know how to send a reject message for an order list. I need to do this to indicate that the order list is invalid in a business sense, i.e., it cannot be executed by this firm.

Any ideas?

Hadil

3

[ original email was from Stephen C Jenvey - ]
It is not the intended purpose of the protocol to report back real time reports ( including executions/rejects ) on individual orders in a list. A status request can be made but the response only returns summary execution information.

If the whole list is meaningless to you in a business sense there is currently nothing on a list level you can do currently in fix. It does state on page 34 of the FIX4.0 protocol spec that any reporting of individual orders in a list can be done with a prior arrangement between the two parties. If this is the case then a possible solution would be to send back individual execution reports with a status of reject for each of the orders in the list.

Another suggestion is to request the possible creation of a list reject message or have a new field added to the List Status message to represent the current state of an individual orders in the list.

eg

    At Desk
    At Exchange
    Partially Filled
    Filled
    Rejected
4

Agree - can’t remember off-hand about a single Fix message that could reject a list. Sending individual rejects would be the option to go for…

PS: Since basket trading requires a lot of interaction from traders, it would really be a very2 rare circumstance where you would be needed to reject an entire basket. Usually when there are outages, firms tend to cut-off fix lines…

It is not the intended purpose of the protocol to report back real time
reports ( including executions/rejects ) on individual orders in a list.
A status request can be made but the response only returns summary
execution information.

If the whole list is meaningless to you in a business sense there is
currently nothing on a list level you can do currently in fix. It does
state on page 34 of the FIX4.0 protocol spec that any reporting of
individual orders in a list can be done with a prior arrangement between
the two parties. If this is the case then a possible solution would be
to send back individual execution reports with a status of reject for
each of the orders in the list.

Another suggestion is to request the possible creation of a list reject
message or have a new field added to the List Status message to
represent the current state of an individual orders in the list.

eg

    At Desk At Exchange Partially Filled Filled Rejected
5

FIX 5.0 SP1 has added a new field ListRejectReason (1386) to the root level of the ListStatus message. It even allows user-defined values and can be used to apply to the entire list. You still have to deliver a list of orders and their statuses (OrdListStatGrp) within the same message.

Regards,
Hanno.

Agree - can’t remember off-hand about a single Fix message that
could reject a list. Sending individual rejects would be the option
to go for…

PS: Since basket trading requires a lot of interaction from traders, it
would really be a very2 rare circumstance where you would be needed
to reject an entire basket. Usually when there are outages, firms
tend to cut-off fix lines…

It is not the intended purpose of the protocol to report back real
time reports ( including executions/rejects ) on individual orders in
a list. A status request can be made but the response only returns
summary execution information.

If the whole list is meaningless to you in a business sense there is
currently nothing on a list level you can do currently in fix. It does
state on page 34 of the FIX4.0 protocol spec that any reporting of
individual orders in a list can be done with a prior arrangement
between the two parties. If this is the case then a possible solution
would be to send back individual execution reports with a status of
reject for each of the orders in the list.

Another suggestion is to request the possible creation of a list
reject message or have a new field added to the List Status message to
represent the current state of an individual orders in the list.

eg

    At Desk At Exchange Partially Filled Filled Rejected