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4.1 Changes
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re: Order Cancel Request
Andrew Schorr
6 Feb 1998 1:56PM ETVitaliy wrote:
> You are correct. However according to 4.1 that is the only way to make *any* changes to an order, including reducing the share quantity.
How do you justify that statement? On page 33 of the 4.1 draft,
it says that "It is recommended that the Cancel/Replace Request
message be used to partially cancel (reduce) an order..."
Note: it says "recommended," not "mandated."
I am particularly talking (in this thread) about the case
where a reduction in quantity is implemented using an Order Cancel Request.
Please refer to the subject of this thread in case you have
any doubts on that point.
Andrew Schorr
Daiwa Securities America Inc.
schorr@ead.dsa.com
P.S. I know that some FIX folks do not like the concept of
partially cancelling an order, but this has been used for
decades in SIAC's CMS system (aka superDOT), and it is ridiculous
to contemplate developing a new protocol that does not support
that functionality!
re: Order Cancel Request
Andrew Schorr 6 Feb 1998 1:56PM ET
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