[This message was posted by Lucian Hada of TORA <[email protected]> to the "4.2 Changes" discussion forum at http://fixprotocol.org/discuss/5. You can reply to it on-line at http://fixprotocol.org/discuss/read/b6800814 - PLEASE DO NOT REPLY BY MAIL.]
Hi John, I don't quite understand the problem you are referring. FIX is only part of my system and I don't have vast knowledge of it and all possible scenarios. Are you saying that if we agree with the counterpart to not send tag44 there may be problems? I completely aware that in the end is agreement with the counterpart but the main reason for my post is: would there be possible problems (maybe other scenarios that will suffer from this decision) if we decide to choose one way or another? Thanks, Lucian > The key question was not answered here. > > Just by "not sending Price [tag 44] altogether on your Order > Cancel/Replace Request" doesn't necessarily solve the problem. The > counterparty would retieve the original order context (which includes > price) to reconstruct the replaced order. > > I guess in FIX5.0 the issue is likely addressed by the inclusion of the > "PegInstructions" component block. Not sure how this is best worked > around in 4.2 though. > > > > Lucian, please see my comments below. > > > > > Let me try to show you my particular scenario for which I need a > > > solution: > > > > > > I want to amend a Pegged to Mid with Limit to a Pegged to Mid > > > without limit price: OrderType=Pegged ExecInst=Mid > > > > > > Price (tag44) for original order = [some_price] (Are we using tag44 > > > correctly for this?) > > > > Yes, from the official FIX 4.2 spec: "Some systems allow pegged orders > > to be specified with a Price field. In this case, the Price field > > serves to put a limit on how far the pegged value can move." > > > > > Now how would the amend look like? OrderType and ExecInst would have > > > to stay the same, obviously I think. > > > > Correct, values of tags OrdType and ExecInst should stay the same - > > Pegged and Mid-price respectively. > > > > > Not sending tag44 in the amend message would mean I want to remove > > > the limit (or that I want it to remain unchanged)? > > > > Yes, to remove the limit, I would suggest not sending Price [tag 44] > > altogether on your Order Cancel/Replace Request. > > > > > Or zero or something should be sent in tag44? > > > > > > This is kind of new scenario for us (Pegged orders), we used to > > > amend from Limit order to Market order but we didn't concerned about > > > tag44 cause there OrderType is changing and gives all needed > > > information. > > > > > > PS: using FIX4.2 [You can unsubscribe from this discussion group by sending a message to mailto:[email protected]] --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Financial Information eXchange" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/fix-protocol?hl=en -~----------~----~----~----~------~----~------~--~---
