Orchimate 1.5.0 /

FIX3.0

The new order message type is used by institutions wishing to electronically submit orders to a broker for execution.

Orders can be submitted with special handling instructions and execution instructions. Handling instructions refer to how the broker should handle the order on its trading floor (see HandInst field). Execution instructions contain explicit directions as to how the order should be executed (see ExecInst field).

New Order messages received with the PossResend flag set in the header should be validated by ClOrdID and order parameters (side, symbol, quantity) to determine if the order had been previously submitted. PossResends previously received should be acknowledged back to the client via an Execution - Status message. PossResends not previously received should be processed as a new order and acknowledged via an Execution - New message.