TAG 151

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1

Imported from previous forum

2

I have a scenario where the leavesQty came back with a negative value in the execution report. Is this normal?
I understand the LeavesQty=OrdQty-CumQty

1st BUY order with quantity 35
Matched 20, remaining 15
Execution report returned - OrdQty=35, LeavesQty=15 and CumQty=20

2nd Order Modification to quantity 25
My execution report returned - CumQty=20, OrdQty=5 and LeavesQty=-15

Anyone can explain on this? Thanks a lot.

3

[ original email was from Dean Kauffman - dean.kauffman@tradeweb.com ]
I agree with you that a negative LeavesQty seems bizarre. The Order State Change Matrices in the FIX spec (4.4 vol 4, table E.1.c) lay out a proper flow when an order quantity changes up or down during fill:

ER 1: ExecType=F “Trade” OrderQty=35 LastQty=20 CumQty=20 LeavesQty=15
ER 2: ExecType=D “Restated” OrderQty=25 LastQty=0 CumQty=20 LeavesQty=5
ER 3: ExecType=F “Trade” OrderQty=25 LastQty=5 CumQty=25 LeavesQty=0

I have a scenario where the leavesQty came back with a negative
value in the execution report. Is this normal? I understand the
LeavesQty=OrdQty-CumQty

1st BUY order with quantity 35 Matched 20, remaining 15 Execution report
returned - OrdQty=35, LeavesQty=15 and CumQty=20

2nd Order Modification to quantity 25 My execution report returned -
CumQty=20, OrdQty=5 and LeavesQty=-15

Anyone can explain on this? Thanks a lot.

4

[ original email was from George Brisco - george.brisco@trialius.com ]
That looks suspiciously as if the sell-side has got its knickers in a bit of a twist. Are ClOrdIds coming back correctly after your amendment?

I would ask your sellside why they are sending a negative leaves quantity.

George

I have a scenario where the leavesQty came back with a negative
value in the execution report. Is this normal? I understand the
LeavesQty=OrdQty-CumQty

1st BUY order with quantity 35 Matched 20, remaining 15 Execution report
returned - OrdQty=35, LeavesQty=15 and CumQty=20

2nd Order Modification to quantity 25 My execution report returned -
CumQty=20, OrdQty=5 and LeavesQty=-15

Anyone can explain on this? Thanks a lot.

5

I have also seen this scenario while testing with a number of sell-side clients. This basically is a bug in thier Application which you need to point out to them and ask them to correct. Their system has to follow the logic of Tag 151= Tag 38 - Tag 14. And I have got this implemented with all of them. This requires a bit of de-bugging and troubleshooting at their end.

Regards,
Sunil Kumar Singh

6

[ original email was from Hugo Darley - hugo.darley@fidessa.com ]
Does tag 151 ALWAYS equal 38 - 14?

I have also seen this scenario while testing with a number of sell-side
clients. This basically is a bug in thier Application which you need to
point out to them and ask them to correct. Their system has to follow
the logic of Tag 151= Tag 38 - Tag 14. And I have got this implemented
with all of them. This requires a bit of de-bugging and troubleshooting
at their end.

Regards, Sunil Kumar Singh

7

[ original email was from Karsten Strobaek - kst@saxobank.com ]
No. If the OrdStatus (39) is Canceled, DoneForTheDay, Expired, Calculated, or Rejected (in which case the order is no longer active) then LeavesQty could be 0, otherwise LeavesQty = OrderQty (38) - CumQty (14).

Kost

Does tag 151 ALWAYS equal 38 - 14?

I have also seen this scenario while testing with a number of sell-
side clients. This basically is a bug in thier Application which you
need to point out to them and ask them to correct. Their system has to
follow the logic of Tag 151= Tag 38 - Tag 14. And I have got this
implemented with all of them. This requires a bit of de-bugging and
troubleshooting at their end.

Regards, Sunil Kumar Singh