Execution Report OrdStatus clarification

Created at 13 Mar 2019, 17:26
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terryww2

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Joined 22.11.2018

Execution Report OrdStatus clarification
13 Mar 2019, 17:26

Hi,

 

when is OrdStatus=4 (Cancelled) actually returned? I thought it's only returned when the Order Cancel Request is made. But from the docs for OrdStatus in Execution Report section: "4 = Cancelled (When an order is partially filled, "Cancelled" is returned signifying Tag 151:LeavesQty is cancelled and will not be subsequently filled);". So when the market touches the order and the order gets partially filled, the Execution Report says OrdStatus=4 and the remaining order is cancelled? Since there's also OrdStatus=1 (Partially filled) this clearly is not the right conclusion. Can you help this clearing up?

 

Also in what cases is OrdStatus=8 (Rejected) returned - insufficient funds, too many orders, positions?

 

Thanks

@terryww2
Replies

PanagiotisCharalampous
14 Mar 2019, 10:45

Hi terryww2

1) If you send a market order and it is partially filled, you will get Canceled (39=4) status since the non filled part of the order is cancelled. If you place a limit order that is partially filled you will get a partially filled (39=1) status and in Tag 151 you will receive the remaining volume to be filled.

2) The most common case for 39=8 is insufficient funds.

Best Regards,

Panagiotis

@PanagiotisCharalampous

terryww2
14 Mar 2019, 11:32

Thanks for the quick answer. Regarding partially filled market order - isn't market order by definition always filled whole? I'd imagine a buy market order would be partially filled only if there are not enough sell (ask) limit orders in the orderbook.

@terryww2

PanagiotisCharalampous
14 Mar 2019, 11:40

RE:

terryww2 said:

Thanks for the quick answer. Regarding partially filled market order - isn't market order by definition always filled whole? I'd imagine a buy market order would be partially filled only if there are not enough sell (ask) limit orders in the orderbook.

Hi terryww2,

Your assumption is correct. If there are not enough orders in the order book then the order might be partially filled.

Best Regards,

Panagiotis

 

@PanagiotisCharalampous
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