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agoscinski / FinanceServiceComputing

A trading system based on the FIX protocol allowing trading between companies an brokers by matching orders and requests.
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Ask for in class? #6

Open agoscinski opened 7 years ago

agoscinski commented 7 years ago

What are these auction, continious, extended, close session. What do these points mean?

agoscinski commented 7 years ago

Answers from teacher

limit of 20% of notional value: never trade over 20% of the whole tradable value in one order and use last traded price as price to calculate the tradable value (shares_quantity * share_value)

stop execution: The usually scenario is that during interday a bad could message about a company could be sent. Then the company calls the market house and asks to stop all executions (= on hold mode) which means no orders should be proceeded anymore. (sth. in tag 58 of order).

special auction: Just ignore special auction. As long we have a price protection, section, it is okay. --> Make price protection as class which can be edited easier.