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Foreign Exchange
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Re: Accept / Reject message
Lisa Taikitsadaporn / Brook Path Partners, Inc. <>
12 Jun 2008 10:51AM ETThe only way to do this in 4.x is if your clients are supportive of using a custom message type (many don't want to deal with coding to this). If so, you can create a custom message type that exactly duplicates the Execution Acknowledgment found in 5.0.
Otherwise there is no other way to explicitly ack a fill in 4.x. The only thing you'll be able to do in 4.x is to use the DK Trade message to reject and go on the premise that if there is no "nack" then the fill is accepted - this is an implied model.
> > In FIX 5.0 a new FIX message was introduced for this purpose. It is
> > called Execution Acknowledgment and can be used to either accept or
> > reject a fill. It can only be used as a response to the Execution
> > Report message.
> >
> > > Hi,
> > >
> > > The Forex market generally has the step where both counter parties
> > > have to 'Accept or Reject' their trades. What message type is this
> > > best handled with? Any cues would be of great help.
> > >
> > > Cheers!
>
>
> Thanks - that was really helpful!
>
> However, since we're integrating with FIX 4.x it might be a good idea
> to use the same message type. Or is there another way to handle this
> in FIX 4.4.
>
> Cheers!
Re: Accept / Reject message
Lisa Taikitsadaporn / Brook Path Partners, Inc. 12 Jun 2008 10:51AM ET
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