Usage of tags ClOrdId and OrigClOrdId

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1

Imported from previous forum

2

Hi,

We have a SPOT FX Trading System, and we are using FIX protocol for communicating the trading messages with our clients.

In our system, when clients submit a new order using NewOrderSingle message, they specify a ClOrdID and subsequently use that same ClOrdID to refer to that order. For example, if they want to interrupt that order, they would use that same ClOrdId value in OrigClOrdId field. From our side, when we send any Execution Report associated with that order, we specify the same value in ClOrdId field.

However, In Order Cancel Request message, as per FIX specifications we use ClOrdId tag to specify a unique request Id just for that message, and we use it to tie back the Order Cancel Reject message. And we use OrigClOrdId tag to specify the ClOrdId value which client provided to us while submitting the order.

Now, we want to allow the clients to be able to modify ( not cancel or replace ) an existing order. For that we are planning to use MSG Type-G ( Order Cancel/Replace a.ka. Modification Request ) message. Here also, we plan to use tag ClOrdId as a request Id, and tag OrigClOrdId to specify the ClOrdId value which client provided to us while submitting the order.
Is this in compliance with the FIX standard ? If not, what are the possible alternatives ? Please let me know.

3

Yes, this is compliant to FIX4.2.

Hi,

We have a SPOT FX Trading System, and we are using FIX protocol for
communicating the trading messages with our clients.

In our system, when clients submit a new order using NewOrderSingle
message, they specify a ClOrdID and subsequently use that same ClOrdID
to refer to that order. For example, if they want to interrupt that
order, they would use that same ClOrdId value in OrigClOrdId field. From
our side, when we send any Execution Report associated with that order,
we specify the same value in ClOrdId field.

However, In Order Cancel Request message, as per FIX specifications we
use ClOrdId tag to specify a unique request Id just for that message,
and we use it to tie back the Order Cancel Reject message. And we use
OrigClOrdId tag to specify the ClOrdId value which client provided to us
while submitting the order.

Now, we want to allow the clients to be able to modify ( not cancel or
replace ) an existing order. For that we are planning to use MSG Type-G
( Order Cancel/Replace a.ka. Modification Request ) message. Here also,
we plan to use tag ClOrdId as a request Id, and tag OrigClOrdId to
specify the ClOrdId value which client provided to us while submitting
the order. Is this in compliance with the FIX standard ? If not, what
are the possible alternatives ? Please let me know.

4

[ original email was from Saatwik Khanna - saatwik.khanna@bofasecurities.com ]
Keep in mind that while that is the generic rule for responding to a replace request, executions while in pending replace should use the original ClOrdID.
e.g.
New order (clordid:x)
Replace (clordid:y,origclordid:x)
Pending replace (clordid:y,origclordid:x)
Execution (clordid:x)
Replaced (clordid:y,origclordid:x)

Appendix D in the 4.2 specification provides all the details regaring clordid/origclordid values in different order states.

Yes, this is compliant to FIX4.2.

Hi,

We have a SPOT FX Trading System, and we are using FIX protocol for
communicating the trading messages with our clients.

In our system, when clients submit a new order using NewOrderSingle
message, they specify a ClOrdID and subsequently use that same ClOrdID
to refer to that order. For example, if they want to interrupt that
order, they would use that same ClOrdId value in OrigClOrdId field.
From our side, when we send any Execution Report associated with that
order, we specify the same value in ClOrdId field.

However, In Order Cancel Request message, as per FIX specifications we
use ClOrdId tag to specify a unique request Id just for that message,
and we use it to tie back the Order Cancel Reject message. And we use
OrigClOrdId tag to specify the ClOrdId value which client provided to
us while submitting the order.

Now, we want to allow the clients to be able to modify ( not cancel or
replace ) an existing order. For that we are planning to use MSG Type-
G ( Order Cancel/Replace a.ka. Modification Request ) message. Here
also, we plan to use tag ClOrdId as a request Id, and tag OrigClOrdId
to specify the ClOrdId value which client provided to us while
submitting the order. Is this in compliance with the FIX standard ? If
not, what are the possible alternatives ? Please let me know.

5

Hello guys,

I am new to Trading and FIX. Trying to implement FIX(quickfix) for placing (New/Modify/Close) Order from MT4 client to MT4 server.

Now from MT4 client, I got below data:
New Order
-> login = client login number
-> order = 0

Modify Order
-> login = client login number
-> order = order number placed before

My question is that what should I send in “ClOrdID” for New-Order &
in “OrgiClOrdID” and “ClOrdID” for Modify-Order.

I am not getting exact Idea and got confused…

Pls help…

6

this is the typicl case we’ve have
==>1st message is a NOS
Tag 35=D
Tag 11=001

==>2nd message is the first Amend
Tag 35=G
Tag 11=002
Tag 41=001

==>3rd message is the 2nd Amend
Tag 35=G
Tag 11=003
Tag 41=002