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Re: what is the best practice to implement OCO orders?
Nick Evgeniev
11 Oct 2004 5:41AM ET> > what is the best practice to implement OCO (one cancel other) orders
> > with fix? I've scanned the docs but haven't found direct support for
> > such orders (though they are fairly common in forex world). Am I
> > missed something? (I think so)
>
> If I understand your question, is this an "Order Cancel Replace Request"
> message ? About which btw I am also searching for an answer :-)
Not exactly. :) With OCO orders you issue two orders (usually stop and limit) one to take the profit and one two stop losses. They are mutaly exclusive orders i.e. if one get filled the other must be canceled automatically... So I'm looking for common practice to implement such usecase with FIX.
Hence solutiion suggested by Dan McCarthy is much more close to what I'm looking for, though it lacks of atomicity. I.e. I have to issue such orders separately (one-by-one)... On other side it might not to be a problem at all since these orders are two different entities anyway and has to be processed separatelly by execution engine.
Re: what is the best practice to implement OCO orders?
Nick Evgeniev 11 Oct 2004 5:41AM ET
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