quickfix-developers

[Quickfix-developers] Order Quantity Change....

[azmat <mr...@gm...>]

All,

I have a question regarding order quantity change, and what is the way FIX
should handle this?  Say I submit an order for a 100 lot of gold.  50 get
partially filled.  Right after 50 get filled, I send an order update to
change the quantity of the order to 10.  What should happen?  Should the
request be rejected?  Should the orderqty be set to 60 and have 50 filled
and 10 working?  What is the preferred way of handling this situation in
FIX?


thanks!


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Re: [Quickfix-developers] Order Quantity Change....

[Shane T. <str...@co...>]

Azmat,

The FIX protocol specs contain these scenarios and expected values.

Take a look here: http://fixprotocol.org/specifications/

And choose the version you are working with to find scenario tables (usually
at the bottom of the specs).

-- 
Shane Trotter
Connamara Systems, LLC

On Thu, Sep 25, 2008 at 2:26 PM, azmat <mr...@gm...> wrote:

> QuickFIX Documentation:
> http://www.quickfixengine.org/quickfix/doc/html/index.html
> QuickFIX Support: http://www.quickfixengine.org/services.html
>
>
> All,
>
> I have a question regarding order quantity change, and what is the way FIX
> should handle this?  Say I submit an order for a 100 lot of gold.  50 get
> partially filled.  Right after 50 get filled, I send an order update to
> change the quantity of the order to 10.  What should happen?  Should the
> request be rejected?  Should the orderqty be set to 60 and have 50 filled
> and 10 working?  What is the preferred way of handling this situation in
> FIX?
>
>
> thanks!
>
>
> --
> View this message in context:
> http://www.nabble.com/Order-Quantity-Change....-tp19676554p19676554.html
> Sent from the QuickFIX - Dev mailing list archive at Nabble.com.
>
>
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Re: [Quickfix-developers] Order Quantity Change....

[Mike G. <mg...@co...>]

In addition to looking at the way FIX specifies this behavior, check 
your counterparty's specs as well.  Some firms follow the FIX spec, some 
don't, and some will let you select which behavior you want.

-- 
Mike Gatny
Connamara Systems, LLC
http://www.connamara.com/