what is the correct response 35=G when amending qty down to less-equal cumQty

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1

Imported from previous forum

2

what should be the right reply to send when a client tries to amend the order quantity to less or equal the actual cumQty?
Let’s say:

  • original order quantity 100 shares
  • executed 80 shares (executed on the market, ER not yet sent to client)
  • amend order quantity down to 80

What should we do with the incoming qty amend down request once we send the ER for 80 fills?
Should we reply with:

  • an OrderCancelReplacement reject (35=9)
  • accept and reply it with an OrderCancel (35=8; 39=4)

what is the correct approach?

3

Osvaldo,

You can refer to the D11 case of Appendix D in FIX errata.

what should be the right reply to send when a client tries to amend the order quantity to less or equal the actual cumQty?
Let’s say:

  • original order quantity 100 shares
  • executed 80 shares (executed on the market, ER not yet sent to client)
  • amend order quantity down to 80

What should we do with the incoming qty amend down request once we send the ER for 80 fills?
Should we reply with:

  • an OrderCancelReplacement reject (35=9)
  • accept and reply it with an OrderCancel (35=8; 39=4)

what is the correct approach?

4

Osvaldo,

You can refer to the D11 case of Appendix D in FIX errata.

what should be the right reply to send when a client tries to amend the order quantity to less or equal the actual cumQty?
Let’s say:

  • original order quantity 100 shares
  • executed 80 shares (executed on the market, ER not yet sent to client)
  • amend order quantity down to 80

What should we do with the incoming qty amend down request once we send the ER for 80 fills?
Should we reply with:

  • an OrderCancelReplacement reject (35=9)
  • accept and reply it with an OrderCancel (35=8; 39=4)

what is the correct approach?

Osvaldo,

Replace Request should be accepted and Order status should be changed from Partially filled to Fully Fill.
Ex:-
Here Qty means tag#38
1)New Order Received - Qty 100
2)Order Ack sent - Qty 100
3)Amend Request Received - Qty 80
4)Pending Replace ER sent - Qty 100
5)Partial Fill ER sent - Qty 100 (Filled Qty tag#14=80)
6)Amend Request Accepted - Qty 80 (tag#14=80,tag#39=2 and tag#150=5)
I guess the above step No.6 will give answer to your question.

5

Osvaldo,

You can refer to the D11 case of Appendix D in FIX errata.

what should be the right reply to send when a client tries to amend the order quantity to less or equal the actual cumQty?
Let’s say:

  • original order quantity 100 shares
  • executed 80 shares (executed on the market, ER not yet sent to client)
  • amend order quantity down to 80

What should we do with the incoming qty amend down request once we send the ER for 80 fills?
Should we reply with:

  • an OrderCancelReplacement reject (35=9)
  • accept and reply it with an OrderCancel (35=8; 39=4)

what is the correct approach?

Osvaldo,

Replace Request should be accepted and Order status should be changed from Partially filled to Fully Fill.
Ex:-
Here Qty means tag#38
1)New Order Received - Qty 100
2)Order Ack sent - Qty 100
3)Amend Request Received - Qty 80
4)Pending Replace ER sent - Qty 100
5)Partial Fill ER sent - Qty 100 (Filled Qty tag#14=80)
6)Amend Request Accepted - Qty 80 (tag#14=80,tag#39=2 and tag#150=5)
I guess the above step No.6 will give answer to your question.

From Errata its not quite Clear I see that D11 says order quantity should be accepted but does not say what should be there on Order Status (Tag 39) and Exec Type(150)