Orchimate 1.3.2 /

Nasdaq OUCH5.0

Orchestra Hub

This message acknowledges the receipt and acceptance of a valid Replace Order Message. The data fields from the Replace Order Message are echoed back in this message. Note that the accepted values may differ from the entered values for some fields. You will receive one and only one of these two for each replacement.

Like Accepted Messages, Replaced Messages use the Order State field to denote that a replace was accepted and then automatically canceled when the Order State is Order Dead (“D”). No further Executed Messages nor Canceled Messages will be received for the replaced order unless the Order State is not Order Dead.

The Shares field on the replace indicates how many shares were left exposed when the replacement completed. E.g.:

• Enter Order Message for 500 shares
• Accepted Message for 500 shares
• Executed Messages for 100 shares
• Replace Order Message for 500 shares
• Replaced Messages with 400 shares

The 400 shares in the Replace Message indicate that 400 shares exist on the book. This same scenario could happen if the execution was in flight back to you while the Replace Order Message was traveling to NASDAQ as follows:

• Enter Order Message for 500 shares
• Accepted Message for 500 shares
• Replace Order Message for 500 shares
• Executed Messages for 100 shares on original order
• Replaced Messages with 400 shares