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General Q/A
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re: Stoploss Order Trigger
Tayloe Draughon / Capital Markets Consulting L.L.C.
11 Sep 2001 10:30AM ET The Chicago Mercantile Exchange had to address this problem too. They utilized an execution report message type.
This does give you a way that someone else solved the problem.
Tag: 150(ExecType) Value =7 (stopped)
Tag: 39(OrdStatus) Value =7 (stopped)
The CME's "Stop Elected" looks like:
Tag: 8(BeginString) FIX.4.1
Tag: 9(BodyLength) 225
Tag: 35(MsgType) 8
Tag: 52(SendingTime) 20010403-13:33:42
Tag: 49(SenderCompID) CME
Tag: 56(TargetCompID) 66666
Tag: 34(MsgSeqNum) 176
Tag: 115(OnBehalfOfCompID) *********
Tag: 116(OnBehalfOfSubID) **********
Tag: 142(SenderLocationID) *********
Tag: 207(SecurityExchange) CME
Tag: 17(ExecID) PRICEASSIGNED2979335
Tag: 20(ExecTransType) 0
Tag: 150(ExecType) 7
Tag: 37(OrderID) 12345678
Tag: 11(ClOrdID) 12345678-1234
Tag: 39(OrdStatus) 7
Tag: 167(SecurityType) FUT
Tag: 55(Symbol) NQM1
Tag: 54(Side) 2
Tag: 32(LastShares) 0
Tag: 40(OrdType) 2
Tag: 38(OrderQty) 1
Tag: 151(LeavesQty) 1
Tag: 14(CumQty) 0
> Hi,
> There is a requirement in our trading system whereby the triggering of a Stoploss Order needs to be immediately reported to the initiator of the order.
>
> We did a workaround, but would like some feedback on the same. In the Execution Report we used:
> ExecType=D (Restated) and
> ExecRestatementReason=6 (Custom;"Stoploss Trigered")
> along with all the order properties set.
>
> An earlier posting in this group, it was mentioned that there is no such message supported in FIX as U.S markets do not report the triggering of Stoploss orders. But, that cannot be a good enough reason for not catering for this scenario...is it?
>
> Thanks in advance,
> Ranjit
>
re: Stoploss Order Trigger
Tayloe Draughon / Capital Markets Consulting L.L.C. 11 Sep 2001 10:30AM ET
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