|
Foreign Exchange
< Previous Next >
Re: Accept / Reject message
N. D.
7 Jul 2008 5:03PM ETThanks Lisa.
I'm planning to have 'BN' as a custom message in 4.x. I'll have to try and convince customers to code to it.
There's another related issue - what message type is best suited to send the 'status' to counter parties of 'Accept' / 'Reject' / 'Pending Accept' / and so on?
Is there a message type that can be used to notify counter-party users of the other's actions?
Thanks again!
> The 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
N. D. 7 Jul 2008 5:03PM ET
|
