When to Reject Execution Reports

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Imported from previous forum

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I’m using FIX 4.2 and have a question regarding when to reject an execution report.

If I receive an execution report after sending a new order single message, what should I check as a minimum before I process this message? Or can I assume that provided that the ClOrdID matches the one that I sent in my New Order Single, then it is OK to process the message?

If I determine that I shouldn’t process the execution report, what message do I send in response? Business Message Reject?

Thanks.

Nik

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We check ClOrdID, symbol, side, trade date, and quantity. If we get a mismatch on any of these, we send back a DK with the appropriate DKReason.

One thing to be aware of - you can’t just do a blind comparison on the Symbol field to look for matches. Sometimes we’ll put a symbol in 55 and a symbol suffix in 65, but we’ll get back a dotted symbol in 55 and nothing in 65.

I’m using FIX 4.2 and have a question regarding when to reject an
execution report.

If I receive an execution report after sending a new order single
message, what should I check as a minimum before I process this message?
Or can I assume that provided that the ClOrdID matches the one that I
sent in my New Order Single, then it is OK to process the message?

If I determine that I shouldn’t process the execution report, what
message do I send in response? Business Message Reject?

Thanks.

Nik