Re: [Quickfix-developers] Flows for a Stock Trader

[Joerg T. <Joe...@ma...>]

> Can i any one  please tell me what  is the order of MessageFlow for a  Stock
> Trading  after Logon Message.

Basically I would suggest the following scenary (for a order-based 
stock-exchange as SWX or virt-X):

client:	NewOrderSingle		send a new order to the exchange
server: ExecutionReport(ExecTransType=NEW,
                         OrdStatus=ExecType=NEW)
				the exchange acknowledges the new order,
				returns an ID to cancel the order etc.

or in case of failure:

server: ExecutionReport(ExecTransType=NEW,
                         OrdStatus=ExecType=Rejected)
				OrdRejReason contains the FIX encoded 	
				reason; we use the "Broker option" to
				to indicate extra error conditions with
				details in the Text field

...
Now for every match at the exchange:

server: ExecutionReport(ExecTransType=NEW,
                         OrdStatus=ExecType=Partially Filled/Filled)
				every trade/execution generated by
				matching this order is sent back as a
				ExecutionReport until the order is
				completely filled.

Cancel an order:

client: OrderCancelRequest(OrigClOrdID=<order id returned by exchange>)
				cancel this order using the returned
				order id
server: ExecutionReport(ExecTransType=NEW,
                         OrdStatus=ExecType=Cancelled)

or in case of failure:

server: OrderCancelReject       CxlRejReason contains the FIX encoded 	
				reason; we use the "Broker option" to
				to indicate extra error conditions with
				details in the Text field

Maybe this scenario is not complete or is in some respect non-standard,
so any comments are welcome.

Cheers, Jörg

-- 
Joerg Thoennes
                                http://macd.com
Tel.: +49 (0)241 44597-24      Macdonald Associates GmbH
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