Unsolicited Cancel on a pending replace order

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Imported from previous forum

2

Dear Sir/Madam,

Can anybody help on the following scenerio? What are the correct Tag11 and Tag41 values for the unsolicited cancel according to FIX spec 4.2?

  1. Buy-side institution send new order (Tag11=001)
  2. Broker reply accept new (Tag11=001)
  3. Buy-side institution send replace request (Tag11=002, Tag41=001)
  4. Broker reply pending replace (Tag11=002, Tag41=001)
  5. Broker reply unsolicited cancel (Tag11=???, Tag41=???)

Thanks.

3

Dear Sir/Madam,

Can anybody help on the following scenerio? What are the correct Tag11
and Tag41 values for the unsolicited cancel according to FIX spec 4.2?

  1. Buy-side institution send new order (Tag11=001)
  2. Broker reply accept new (Tag11=001) 3. Buy-side institution send
    replace request (Tag11=002, Tag41=001) 4. Broker reply pending
    replace (Tag11=002, Tag41=001) 5. Broker reply unsolicited cancel
    (Tag11=???, Tag41=???)

Thanks.

Hi,

1)should not send tag #41 in Unsolicited Cancel ER.
2)Amend Request should be rejeted before or after Unsolicted Cancel ER.
3)I suggest, Reject Amend Request after UnsolCancel ER with text message as “Order is already cancelled”

Kiran

4

Dear Sir/Madam,

Can anybody help on the following scenerio? What are the correct Tag11
and Tag41 values for the unsolicited cancel according to FIX spec 4.2?

  1. Buy-side institution send new order (Tag11=001)
  2. Broker reply accept new (Tag11=001) 3. Buy-side institution send
    replace request (Tag11=002, Tag41=001) 4. Broker reply pending
    replace (Tag11=002, Tag41=001) 5. Broker reply unsolicited cancel
    (Tag11=???, Tag41=???)

Thanks.

Hi,

1)should not send tag #41 and tag11=001 in Unsolicited Cancel ER.
2)Amend Request should be rejeted before or after Unsolicted Cancel ER.
3)I suggest, Reject Amend Request after UnsolCancel ER with text message
as “Order is already cancelled”

Kiran

5

Dear Sir/Madam,

Can anybody help on the following scenerio? What are the correct
Tag11 and Tag41 values for the unsolicited cancel according to FIX
spec 4.2?

  1. Buy-side institution send new order (Tag11=001)
  2. Broker reply accept new (Tag11=001) 3. Buy-side institution send
    replace request (Tag11=002, Tag41=001) 4. Broker reply pending
    replace (Tag11=002, Tag41=001) 5. Broker reply unsolicited cancel
    (Tag11=???, Tag41=???)

Thanks.

Hi,

1)should not send tag #41 and tag11=001 in Unsolicited Cancel ER.
2)Amend Request should be rejeted before or after Unsolicted
Cancel ER.
3)I suggest, Reject Amend Request after UnsolCancel ER with text
message as “Order is already cancelled”

Kiran

Hi Kiran,

Thanks for your reply. I agreed that I should not send Tag41, but I am quite confused on Tag11 becoz some of the reply of this thread suggesting me putting tag11=002. Can you give me some reference to support your answer on tag11=001?

Thanks so much!

6

Dear Sir/Madam,

Can anybody help on the following scenerio? What are the correct
Tag11 and Tag41 values for the unsolicited cancel according to FIX
spec 4.2?

  1. Buy-side institution send new order (Tag11=001)
  2. Broker reply accept new (Tag11=001) 3. Buy-side institution
    send replace request (Tag11=002, Tag41=001) 4. Broker reply
    pending replace (Tag11=002, Tag41=001) 5. Broker reply
    unsolicited cancel (Tag11=???, Tag41=???)

Thanks.

Hi,

1)should not send tag #41 and tag11=001 in Unsolicited Cancel ER.
2)Amend Request should be rejeted before or after Unsolicted
Cancel ER.
3)I suggest, Reject Amend Request after UnsolCancel ER with text
message as “Order is already cancelled”

Kiran

Hi Kiran,

Thanks for your reply. I agreed that I should not send Tag41, but I am
quite confused on Tag11 becoz some of the reply of this thread
suggesting me putting tag11=002. Can you give me some reference to
support your answer on tag11=001?

Thanks so much!

It is very simple. Tag 11 should not be changed until accept the Next Request send by the Client. In your case Client has sent New ClOrdID= 002 in Amend Request, this amend request was not accepted, so your ClOrdID should be 001 which is sent by client in New Order Request.

Kiran

7

Dear Sir/Madam,

Can anybody help on the following scenerio? What are the correct
Tag11 and Tag41 values for the unsolicited cancel according to
FIX spec 4.2?

  1. Buy-side institution send new order (Tag11=001)
  2. Broker reply accept new (Tag11=001) 3. Buy-side institution
    send replace request (Tag11=002, Tag41=001) 4. Broker reply
    pending replace (Tag11=002, Tag41=001) 5. Broker reply
    unsolicited cancel (Tag11=???, Tag41=???)

Thanks.

Hi,

1)should not send tag #41 and tag11=001 in Unsolicited Cancel ER.
2)Amend Request should be rejeted before or after Unsolicted
Cancel ER.
3)I suggest, Reject Amend Request after UnsolCancel ER with text
message as “Order is already cancelled”

Kiran

Hi Kiran,

Thanks for your reply. I agreed that I should not send Tag41, but I am
quite confused on Tag11 becoz some of the reply of this thread
suggesting me putting tag11=002. Can you give me some reference to
support your answer on tag11=001?

Thanks so much!

It is very simple. Tag 11 should not be changed until accept the Next
Request send by the Client. In your case Client has sent New ClOrdID=
002 in Amend Request, this amend request was not accepted, so your
ClOrdID should be 001 which is sent by client in New Order Request.

Kiran

Hi Kiran,
Thanks for your valuable suggestion and explanation! They are really useful to me.

8

Dear Sir/Madam,

Can anybody help on the following scenerio? What are the correct Tag11
and Tag41 values for the unsolicited cancel according to FIX spec 4.2?

  1. Buy-side institution send new order (Tag11=001)
  2. Broker reply accept new (Tag11=001) 3. Buy-side institution send
    replace request (Tag11=002, Tag41=001) 4. Broker reply pending
    replace (Tag11=002, Tag41=001) 5. Broker reply unsolicited cancel
    (Tag11=???, Tag41=???)

Thanks.

Hi Penny,

There are some useful scenarios in appendix D in the FIX 4.2 spec. You could look at D19 and D20 scenarios. They deal with unsolicited cancels.

According to these tag 11=002 and tag 41 should not be set.

Regards,

Bernt

9

Dear Sir/Madam,

Can anybody help on the following scenerio? What are the correct Tag11
and Tag41 values for the unsolicited cancel according to FIX spec 4.2?

  1. Buy-side institution send new order (Tag11=001)
  2. Broker reply accept new (Tag11=001) 3. Buy-side institution send
    replace request (Tag11=002, Tag41=001) 4. Broker reply pending
    replace (Tag11=002, Tag41=001) 5. Broker reply unsolicited cancel
    (Tag11=???, Tag41=???)

Thanks.

Hi Penny,

There are some useful scenarios in appendix D in the FIX 4.2 spec. You
could look at D19 and D20 scenarios. They deal with unsolicited cancels.

According to these tag 11=002 and tag 41 should not be set.

Regards,

Bernt

Hi Bernt,
Thanks for your reply. I looked the appendix D D19, D20. But they are not specifically for a pending replace order. As I am quite confused on Tag11 value becoz some of the reply for this thread suggesting me putting tag11=001. Can you give me some reference to support your answer on tag11=002?

(I am just thinking if there is a confirm replace before the unsolicited cancel, definitely the tag11=002 of the unsolicited cancel. how about if the order is still pending replace?)

Thanks so much!

10

Dear Sir/Madam,

Can anybody help on the following scenerio? What are the correct
Tag11 and Tag41 values for the unsolicited cancel according to FIX
spec 4.2?

  1. Buy-side institution send new order (Tag11=001)
  2. Broker reply accept new (Tag11=001) 3. Buy-side institution send
    replace request (Tag11=002, Tag41=001) 4. Broker reply pending
    replace (Tag11=002, Tag41=001) 5. Broker reply unsolicited cancel
    (Tag11=???, Tag41=???)

Thanks.

Hi Penny,

There are some useful scenarios in appendix D in the FIX 4.2 spec. You
could look at D19 and D20 scenarios. They deal with unsolicited
cancels.

According to these tag 11=002 and tag 41 should not be set.

Regards,

Bernt

Hi Bernt, Thanks for your reply. I looked the appendix D D19, D20. But
they are not specifically for a pending replace order. As I am quite
confused on Tag11 value becoz some of the reply for this thread
suggesting me putting tag11=001. Can you give me some reference to
support your answer on tag11=002?

(I am just thinking if there is a confirm replace before the unsolicited
cancel, definitely the tag11=002 of the unsolicited cancel. how about if
the order is still pending replace?)

Thanks so much!

Sorry. It should be 11=001 as the order was never replaced. Also as Kumar said the amend request must also be rejected.

/Bernt

11

Dear Sir/Madam,

Can anybody help on the following scenerio? What are the correct
Tag11 and Tag41 values for the unsolicited cancel according to FIX
spec 4.2?

  1. Buy-side institution send new order (Tag11=001)
  2. Broker reply accept new (Tag11=001) 3. Buy-side institution
    send replace request (Tag11=002, Tag41=001) 4. Broker reply
    pending replace (Tag11=002, Tag41=001) 5. Broker reply
    unsolicited cancel (Tag11=???, Tag41=???)

Thanks.

Hi Penny,

There are some useful scenarios in appendix D in the FIX 4.2 spec.
You could look at D19 and D20 scenarios. They deal with unsolicited
cancels.

According to these tag 11=002 and tag 41 should not be set.

Regards,

Bernt

Hi Bernt, Thanks for your reply. I looked the appendix D D19, D20. But
they are not specifically for a pending replace order. As I am quite
confused on Tag11 value becoz some of the reply for this thread
suggesting me putting tag11=001. Can you give me some reference to
support your answer on tag11=002?

(I am just thinking if there is a confirm replace before the
unsolicited cancel, definitely the tag11=002 of the unsolicited
cancel. how about if the order is still pending replace?)

Thanks so much!

Sorry. It should be 11=001 as the order was never replaced. Also as
Kumar said the amend request must also be rejected.

/Bernt

Hi Bernt,
Thanks a lot for your help and suggestion !