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Re: Usage of tags ClOrdId and OrigClOrdId
Saatwik Khanna / Banc Of America Securities
18 Nov 2008 3:42PM ET 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.
Re: Usage of tags ClOrdId and OrigClOrdId
Saatwik Khanna / Banc Of America Securities 18 Nov 2008 3:42PM ET
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