Description
The Don't Know Trade (DK) message notifies a trading partner that an electronically received execution has been rejected. This message can be thought of as an execution reject message.
This message has special utility when dealing with one-way execution reporting. If the initial Order Acknowledgment message (Execution Report with LastQty <32>=0 and OrdStatus <39>=New) does not match an existing order this message can be used to notify the broker of a potential problem order.
Note that the decision to DK an execution lies with the institution. Some of the mismatches listed in the DKReason <127> field may be acceptable and will not require a DK messages to be generated.
Structure
| Tag | Field Name | Req'd | Comments | |
|---|---|---|---|---|
| Component Block - <StandardHeader> | Y | MsgType = Q | ||
| 37 | OrderID | Y | Broker Order ID as identified on problem execution | |
| 198 | SecondaryOrderID | N | ||
| 17 | ExecID | Y | Execution ID of problem execution | |
| 127 | DKReason | Y | ||
| Component Block - <Instrument> | Y | Insert here the set of "Instrument" (symbology) fields defined in "Common Components of Application Messages" | ||
| Component Block - <UndInstrmtGrp> | N | Number of underlyings | ||
| Component Block - <InstrmtLegGrp> | N | Number of Legs | ||
| 54 | Side | Y | ||
| Component Block - <OrderQtyData> | Y | Insert here the set of "OrderQtyData" fields defined in "Common Components of Application Messages" | ||
| 32 | LastQty | N | Required if specified on the ExecutionRpt | |
| 31 | LastPx | N | Required if specified on the ExecutionRpt | |
| 58 | Text | N | ||
| 354 | EncodedTextLen | N | Must be set if EncodedText field is specified and must immediately precede it. | |
| 355 | EncodedText | N | Encoded (non-ASCII characters) representation of the Text field in the encoded format specified via the MessageEncoding field. | |
| Component Block - <StandardTrailer> | Y | |||