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For the complete documentation index, see llms.txt. This page is also available as Markdown.

Trading for LPs and Masters

This page describes the potential scenarios of submitting Maker orders

Submitting new orders

NewOrderSingle: Successful submission of the new order

Msg Num
Message
ExecType<150>
OrdStatus<39>
OrderQty<38>
LeavesQty<151>
Description

1

NewOrderSingle<D>

-

-

0.1

-

LP sends an order

2

ExecutionReport<8>

0(New)

0(New)

0.1

0.1

Order accepted

Example of the messages
8=FIX.4.4|9=183|35=D|34=2|49=<api_key>|52=20240508-14:06:38.019|56=FINERYMARKETS|11=1|38=10000000|40=2|44=300000000000|54=1|55=BTC-USD|59=1|60=20240508-14:06:37.769|10=066|
8=FIX.4.4|9=182|35=8|34=2|49=FINERYMARKETS|52=20240508-14:06:38.020|56=<api_key>|11=1|17=1|37=1|38=10000000|39=0|44=300000000000|54=1|55=BTC-USD|150=0|151=10000000|10=125|

NewOrderSingle: Rejection during submission of the new order

Msg Num
Message
ExecType<150>
OrdStatus<39>
OrderQty<38>
LeavesQty<151>
Description

1

NewOrderSingle<D>

-

-

0.1

-

LP sends an order

2

ExecutionReport<8>

8(Rejected)

8(Rejected)

0.1

0

Order rejected with the reason, provided in the Text<58>

Example of the messages
8=FIX.4.4|9=202|35=D|34=3|49=<api_key>|52=20240508-14:23:42.858|56=FINERYMARKETS|11=41667222189341000857|38=10000000|40=2|44=300000000000|54=1|55=BTC-USD|59=1|60=20240508-14:23:42.663|10=057|
8=FIX.4.4|9=246|35=8|34=3|49=FINERYMARKETS|52=20240508-14:23:42.859|56=<api_key>|11=41667222189341000857|37=0|38=10000000|39=8|44=300000000000|54=1|55=BTC-USD|58=Invalid clOrdId. Should be unsigned 64-bit number > 0|150=8|151=0|10=026|

Cancelation of the Orders

CancelOrder: Success

Msg Num
Message
ExecType<150>
OrdStatus<39>
OrderQty<38>
LeavesQty<151>
Description

1

NewOrderSingle<D>

-

-

0.1

-

LP sends an order

2

ExecutionReport<8>

0(New)

0(New)

0.1

0.1

Order accepted

3

OrderCancelRequest<F>

-

-

-

-

LP cancels the order

4

ExecutionReport<8>

4(Cancel)

4(Cancelled)

0.1

0.1

Order cancelled and no longer exists in the order book

Example of the messages

CancelOrder: Reject

1

OrderCancelRequest<F>

LP tries to cancel non-existing order

2

OrderCancelReject

<9>

Rejected with an FM error code in Text<58>

Example of the messages

Modification of the Orders

Cancel/Replace Order: Replace New Order

Msg Num
Message
ExecType<150>
OrdStatus<39>
OrderQty<38>
LeavesQty<151>
Description

1

NewOrderSingle<D>

-

-

0.1

-

LP sends an order

2

ExecutionReport<8>

0(New)

0(New)

0.1

0.1

Order accepted

3

OrderCancel/ReplaceRequest<G>

-

-

0.1

-

LP requests to replace the order

4

ExecutionReport<8>

5(Replace)

0(New)

0.1

0.1

Order replaced, new order created, new OrderID<37> assigned

Examples of the messages

Cancel/Replace Order: Replace Partially Filled Order

Msg Num
Message
ExecType<150>
OrdStatus<39>
OrderQty<38>
LeavesQty<151>
Description

1

NewOrderSingle<D>

-

-

0.2

-

LP sends an order

2

ExecutionReport<8>

0(New)

0(New)

0.2

0.2

Order accepted

3

ExecutionReport<8>

F(Trade)

1(Partially filled)

0.2

0.1

Trade happened, the order is partially filled

4

OrderCancel/ReplaceRequest<G>

-

-

0.2

-

LP requests to replace the order

5

ExecutionReport<8>

5(Replace)

0(New)

0.1

0.1

Order replaced, new order created, new OrderID<37> assigned

Examples of the messages

Pay close attention to Message #5 Replacing a partially filled order the size of a newly replaced order will be less than the specified size by the filled amount (e.g., the size of an initial order was 10; then the order was partially filled and the remaining size was 8; when a user replaces this order, a new size must be 12 if a user wants to have 10 in the order book).

Cancel/Replace Order: The old order had been cancelled but the new one wasn't added

Msg Num
Message
ExecType<150>
OrdStatus<39>
OrderQty<38>
LeavesQty<151>
Description

1

NewOrderSingle<D>

-

-

0.2

-

LP sends an order

2

ExecutionReport<8>

0(New)

0(New)

0.2

0.2

Order accepted

3

OrderCancel/ReplaceRequest<G>

-

-

0.2

-

LP requests to replace the order

4

ExecutionReport<8>

5(Replace)

4(Cancelled)

0.2

0.2

Order cancelled, but the new order was not created, FM error code in Text<58>

Examples of the messages

Previously Finery Markets sent 2 messages, now only 1 with a cancelation notification and an error code (Message #4)

Cancel/Replace Order: Rejection

Msg Num
Message
Description

1

OrderCancel/ReplaceRequest<G>

LP tries to replace a non-existing order

2

OrderCancelReject

<9>

Reject, FM error code in Text<58>

Examples of the messages

Results of Taker's Trading

Order partially Filled

Msg Num
Message
ExecType<150>
OrdStatus<39>
OrderQty<38>
LeavesQty<151>
Description

1

NewOrderSingle<D>

-

-

0.2

-

LP sends an order

2

ExecutionReport<8>

0(New)

0(New)

0.2

0.2

Order accepted

3

ExecutionReport<8>

F(Trade)

1(Partially filled)

0.2

0.1

Trade happened, the order is partially filled

Examples of the messages

Order Filled in Full

Msg Num
Message
ExecType<150>
OrdStatus<39>
OrderQty<38>
LeavesQty<151>
Description

1

NewOrderSingle<D>

-

-

0.2

-

LP sends an order

2

ExecutionReport<8>

0(New)

0(New)

0.2

0.2

Order accepted

3

ExecutionReport<8>

F(Trade)

2(Filled)

0.2

0

Trade happened, the order is filled and no longer exists in the order book

Examples of the messages

If the order has been fully utilized by a Taker, you can no longer modify it

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