[This message was posted by Hanno Klein of Deutsche Börse Systems <[email protected]> to the "General Q/A" discussion forum at http://fixprotocol.org/discuss/22. You can reply to it on-line at http://fixprotocol.org/discuss/read/75399305 - PLEASE DO NOT REPLY BY MAIL.]
You can handle an auction order similar to a reserve order, i.e. the presence of a specific field represents the special order type, e.g. DisplayQty in case of a reserve order. In your case it would be AuctionType. One could add order types but only if there is no conflict. If your auction orders can be market or limit, you cannot use another order type without using the ability to distinguish market from limit. > thanks a lot Hanno. How do I specify in the order type that this is an > auction order. > > > Suggest to use NewOrderSingle for entry of the auction order. Use > > MarketDataSnapshotFullRefresh to send information about the order to > > the bidders (just the fields needed to bid, e.g. OrderID or > > MDEntryID). Bidders then use NewOrderSingle with field RefOrderID > > (1080) and RefOrderIDSource (1081) to specify the auction order they > > are bidding on (ID value comes from the market data message). > > > > Initiators and bidders (respondents) have their own ClOrdID values for > > chaining. > > > > A field AuctionType does not exist (yet) but this is something I would > > like to extend FIX with. For now, you could use the UDF 9383 even if > > its description does not fit 100%. It is a matter of bilateral > > agreement to extend its usage beyond the stated values 1 and 2. > > Auctions can be very specific and it might be best not to pre-define > > auction type values at all and just leave them to bilateral agreement. > > > > Regards, Hanno. > > > > > Hi Hanno: The flow is: Auction initiator places auction order of > > > type English/Yankee/Dutch (forward or reverse) and specifies the > > > bidding period. Users then place bids against this order. what would > > > be the best way of implementing this. -Pravin [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.
