[Quickfix-developers] Sequece of events

[Clark S. <cla...@ya...>]

I am a newbie to fix programming. I want to make sure
I understand the sequence of events for placeing a new
order, doing a cancel replace, and doing a straight
cancel. I also have some questions about various
fields within the fix messages.

For a new single order I think this is the sequence of
events:

1) Fix client sends a NewOrderSingle message to the
the Fix server.
    Question 1) How should I set HandlInst?
      For orders to Arca, Isnd, and other ECN's I
guess it should be
       1, for
HandlInst_AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION
      For orders that go to Dot how should this be
specified? Reading the names
        I would guess
       2, would correcspend to AutoEx, or
HandlInst_AUTOMATED_EXECUTION_ORDER_PUBLIC_BROKER_INTERVENTION_OK
 and
       3, HandlInst_MANUAL_ORDER_BEST_EXECUTION would
be a normal dot order.
       Are these values correct?


2) One of two things happens:
  a) The Fix server sends an ExecutionReport to the
client with 
     OrdStatus = 0 = OrdStatus_NEW 
  b) The Fix server sends an ExecutionReport to the
client with
     OrdStatus = Rejected
   Question 2) Where is the reason for the rejection?

For a cancel replace order I think this sequence of
events happens:
  1) the Fix Client sends a OrderCancelReplaceRequest
to the Fix server.
    Question 3) Do I need to set the quantity for a
cancel replace order? 
     If so what quantity should I use, the original
quantity, 
     or the remaining unfilled quantity?

  2) The fix server sends an execution messages with
OrdStatus = 1 = Pending,
     or the fix server sends a OrderCancelReject
message.
   Question 3) If the fix server sends an
OrderCancelReject message, where
    is the reason stated?

  3) The fix server sends an execution message with
OrdStatus = 9 = Replaced

For a cancel order, I think the following events
happen:
   1) the Fix Client sends a OrderCancelRequest to the
Fix server.
    Question 4) Do I need to set the quantity for a
cancel order? 
     If so what quantity should I use, the original
quantity, 
     or the remaining unfilled quantity?
   

   2) The fix server sends an execution message with
OrdStatus = 1 = Pending,
     or the fix server sends a OrderCancelReject
message.
   Question 5) If the fix server sends an
OrderCancelReject message, where
    is the reason stated?

   3) The fix server sends an execution message with
OrdStatus = 7 = Canceled


Thanks in Advance,

Clark Sims


	
		
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