Imported from previous forum
Scenario:
New order comes in Buy 1000 MSFT @ 25
Partial fill for 800 shares @ 25
User sends cancel request
Order cancelled.
Now if the partial fill is busted. Should the 800 shares be made open in the market again, considering that the order was already cancelled by the user?
Thomas
I would personally consider this to be determined by the rules of engagement agreed between you and the client, not a condition whose appropriate response is described by the FIX spec.
Given that the fill could be busted at any time during the day, I think most clients would be annoyed at an order being reposted onto the market after the market may well have moved.
Instead, my view would be that you should look at determining with your client how to relay back busted fills from the exchange to the client, so they can determine what to do with their position.
Regards
Matt
(Any views contained herein are my own personal views entirely)
> Scenario:
>
> New order comes in Buy 1000 MSFT @ 25
> Partial fill for 800 shares @ 25
> User sends cancel request
> Order cancelled.
>
> Now if the partial fill is busted. Should the 800 shares be made open in the market again, considering that the order was already cancelled by the user?
>
> Thomas
>