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jim380 / Re

FIX protocol on blockchain
https://cyphercore.io/re
Apache License 2.0
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Order Mass Status Request, Order Mass Status Report and Order Mass Status Request Reject methods on FIX module #48

Closed uwezukwechibuzor closed 1 year ago

uwezukwechibuzor commented 1 year ago

In the FIX protocol, the Order Mass Status Request (OMSR) message and the Order Mass Status Report (OMSRpt) message are two different messages that are used in the context of order management and monitoring.

The Order Mass Status Request (OMSR) message is sent by a party to request the status of one or more orders that have been previously submitted. The OMSR message can include criteria such as order IDs, symbol, and side, which can be used to filter the orders that are included in the request. The receiving party responds with an Order Mass Status Report (OMSRpt) message that contains the requested information about the status of the orders.

The Order Mass Status Report (OMSRpt) message provides the status of the orders that were requested in the OMSR message. The OMSRpt message includes details such as the order status, quantity filled, and time of the last update for each of the requested orders. The OMSRpt message can be used to update the order management and monitoring systems of the party that originally sent the OMSR message.

In summary, the Order Mass Status Request (OMSR) message is used to request the status of one or more orders, and the Order Mass Status Report (OMSRpt) message is used to respond with the requested information about the status of those orders. The OMSR message initiates the request for information, and the OMSRpt message provides the response with the status of the orders that were requested.

uwezukwechibuzor commented 1 year ago

when is order mass status request needed? when a party does not respond with execution report?

An Order Mass Status Request (OMSReq) message is used by a party to request the status of one or more orders from the counterparty. This message is typically used when a party has not received an Execution Report message or other status update from the counterparty for one or more orders.

The OMSReq message can be used to request the status of a single order or multiple orders at once. The party sending the OMSReq message specifies the order ID or IDs for the orders they want to query, and the receiving party responds with an Order Mass Status Report (OMSRpt) message that provides the current status of those orders.

The OMSReq message can also be used to query the status of all open orders for a given symbol, or all orders for a particular trading session or time period.

In summary, the OMSReq message is used when a party needs to check the status of one or more orders for which they have not received an Execution Report or other status update. It provides a way for the requesting party to get up-to-date information on the current status of those orders.

uwezukwechibuzor commented 1 year ago

after placing an order mass status request, can i cancel it ?

Yes, an Order Mass Status Request (OMSReq) message can be rejected by the counterparty. If the counterparty is unable to fulfill the request, they may respond with an Order Mass Status Request Acknowledgement (MsgType=DN) message indicating that the request was rejected.

The Order Mass Status Request Acknowledgement message may contain a reason for the rejection, such as an invalid request, unsupported request type, or insufficient permission to access the requested data.

In addition to rejection, the counterparty may also respond with an Order Mass Status Report (MsgType=AF) message that contains partial information about the requested orders. For example, if the counterparty is unable to provide all of the requested information, they may provide what information they can and indicate which fields are missing.

It is important for the requesting party to review the response message and take appropriate action based on the information provided. If the request was rejected, the requesting party may need to revise the request and send it again, or seek out the requested information from another source.

In summary, an Order Mass Status Request message can be rejected by the counterparty, and the requesting party should be prepared to handle both successful and unsuccessful responses.