Status Requests & Rejects

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Imported from previous forum

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[ original email was from Dale Hinners - dale@taltrade.com ]
There seems to be some confusion on Status Requests with regard to rejects. If a destination rejects a Status request what is the proper execution message that will reject the status request and not the order?

Based on the 4.2 spec D26 the ‘new’ order ClOrdID is used in each status request but there are no scenarios for the reject of the status request itself. The only indicated method essentially render the order cancelled rather than the status request rejected.

Perhaps a Status Reject under MsgType(35) needs to be created and used like a Cancel Reject. There is some indication that Status Requests should not be rejected but this isn’t something the client usually gets to decide.

Dale Hinners
ASB FIX Manager
Townsend Analytics, Ltd

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FIX 4.3 volume 1 does indeed suggest using an ExecutionReport for rejecting an Order Status Request. However, as you point out, trying to form a reject that doesn’t look like you’re reporting the order itself as rejected is tricky. Even setting ExecTransType=3, ExecType=8 looks like you’re saying the status of the order is rejected.

FIX 4.2 introduced MsgType=j, BusinessMessageReject. It might be appropriate to use this message type, using the BusinessRejectReason (tag 380) value of 1 (“Unknown ID”) or the catch-all 0 (“Other”).

Alan Beale
TransactTools

There seems to be some confusion on Status Requests with regard to
rejects. If a destination rejects a Status request what is the proper
execution message that will reject the status request and not the order?

Based on the 4.2 spec D26 the ‘new’ order ClOrdID is used in each status
request but there are no scenarios for the reject of the status request
itself. The only indicated method essentially render the order cancelled
rather than the status request rejected.

Perhaps a Status Reject under MsgType(35) needs to be created and used
like a Cancel Reject. There is some indication that Status Requests
should not be rejected but this isn’t something the client usually gets
to decide.

Dale Hinners ASB FIX Manager Townsend Analytics, Ltd