What is the order ID when we reject new order

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Imported from previous forum

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As said in FIX 4.2 spec, we have to use ‘Execution Report’ to reject to the ‘New order’ message. And in order to formulate ‘Exec Report’ msg we should put the field ‘[37]OrderID’ as it is stated as require field. However, as this order is rejected so in practical there should have no Order ID assigned to it. Thus, what should be the value of this field ?

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[ original email was from Phil Johnston - phil.johnston@transacttools.net ]
> As said in FIX 4.2 spec, we have to use ‘Execution Report’ to reject to

the ‘New order’ message. And in order to formulate ‘Exec Report’ msg we
should put the field ‘[37]OrderID’ as it is stated as require field.
However, as this order is rejected so in practical there should have no
Order ID assigned to it. Thus, what should be the value of this field ?

The OrderID is required to be a unique identifier related to the order that the broker receives - therefore if no OrderID exists for the order, then one should be created and any other messages that are sent out related to that Order should also use the same OrderID.

Phil Johnston
TransactTools
http://www.transacttools.net

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Phil/Chonlada,

The value of tag 37 has to be unique for an ER but in case of Reject ER it can be populated with a value which might not be unique when comparing to tag 37 value of other reject ER’s. That means for example for a particular day if their are 10 order rejects, then tag 37 value for these 10 order rejects can be the same, e.g. 37= NONE, REJECT,etc.
Thats because in practical its a non-existant order in the broker’s OMS.

Regards,
Sunil