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FAQs on transaction reporting – Question II.2.4.5

We found a problem with the forthcoming new intraday order. The order type is ICEBERG and can be created as non-active then it can be activated then deactivated and then activated again etc. The question is how to change Order Type and Action Type in the report according to the deactivation. Once the order is deactivated, no one can see it on screen. We prepared the following example:

Action Order

ID

Version Orders Status Action Type Time
New order, non-active 45635 1 no report 2015-08-18T10:58:44.000
Activation 45635 2 ACT N 2015-08-18T11:25:00.000
Deactivation 45635 3 WIT M 2015-08-18T13:02:34.000
Activation 45635 4 ACT M 2015-08-18T13:58:23.000
Cancellation by MP 45635 5 WIT C 2015-08-18T15:01:03.000
or        
Cancellation by system 45635 5 SUS C 2015-08-18T15:01:03.000

 

We think that the new order that has been created but not activated shouldn’t be reported. So, the first report should be done at time of activation with action type “N”. Then, deactivation should be marked with the status “WIT”=Withdrawn, because the order won’t be displayed on the screen. We think that if we used status “OTH”=Other instead of “WIT”=Withdrawn, it would be interpreted as a special order but still active in the system that can be matched. That’s why we used status.


Answer:

An order that has been created but not activated should not be reported. The first report should always start with a new (“N”) report. The deactivation should be marked with the status “WIT”=Withdrawn and Action Type “M”=Modify if the order is not visible on the screen and it can be reactivated.

If the order is withdrawn permanently, this should be marked with the status “WIT”=Withdrawn and Action Type “C”= Cancel or “SUS”=Suspended and Action Type “C”= Cancel. In this case the order cannot be reactivated.

Last update: 16/11/2015   RSS_Icon Subscribe to this Page’s RSS