> For the complete documentation index, see [llms.txt](https://faq.finerymarkets.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://faq.finerymarkets.com/api-reference/fix-api/trade/trading-for-lps-and-masters.md).

# Trading for LPs and Masters

## Submitting new orders

### NewOrderSingle: <mark style="background-color:green;">Successful submission of the new order</mark>

<table><thead><tr><th width="121">Msg Num</th><th>Message</th><th width="148">ExecType&#x3C;150></th><th width="158">OrdStatus&#x3C;39></th><th width="146">OrderQty&#x3C;38></th><th width="153">LeavesQty&#x3C;151></th><th width="143">Description</th></tr></thead><tbody><tr><td>1</td><td>NewOrderSingle&#x3C;D></td><td>-</td><td>-</td><td>0.1</td><td>-</td><td>LP sends an order</td></tr><tr><td>2</td><td>ExecutionReport&#x3C;8></td><td>0(New)</td><td>0(New)</td><td>0.1</td><td>0.1</td><td>Order accepted</td></tr></tbody></table>

<details>

<summary>Example of the messages</summary>

{% code overflow="wrap" lineNumbers="true" %}

```
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|
```

{% endcode %}

</details>

### NewOrderSingle: <mark style="background-color:red;">Rejection during submission of the new order</mark>

<table><thead><tr><th width="121">Msg Num</th><th width="116">Message</th><th width="154">ExecType&#x3C;150></th><th width="153">OrdStatus&#x3C;39></th><th width="144">OrderQty&#x3C;38></th><th width="156">LeavesQty&#x3C;151></th><th>Description</th></tr></thead><tbody><tr><td>1</td><td>NewOrderSingle&#x3C;D></td><td>-</td><td>-</td><td>0.1</td><td>-</td><td>LP sends an order</td></tr><tr><td>2</td><td>ExecutionReport&#x3C;8></td><td>8(Rejected)</td><td>8(Rejected)</td><td>0.1</td><td>0</td><td>Order rejected with the reason, provided in the Text&#x3C;58></td></tr></tbody></table>

<details>

<summary>Example of the messages</summary>

{% code overflow="wrap" lineNumbers="true" %}

```
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|
```

{% endcode %}

</details>

## Cancelation of the Orders

### CancelOrder: <mark style="background-color:green;">Success</mark>

<table><thead><tr><th width="121">Msg Num</th><th width="138">Message</th><th width="154">ExecType&#x3C;150></th><th width="149">OrdStatus&#x3C;39></th><th width="147">OrderQty&#x3C;38></th><th width="156">LeavesQty&#x3C;151></th><th width="130">Description</th></tr></thead><tbody><tr><td>1</td><td>NewOrderSingle&#x3C;D></td><td>-</td><td>-</td><td>0.1</td><td>-</td><td>LP sends an order</td></tr><tr><td>2</td><td>ExecutionReport&#x3C;8></td><td>0(New)</td><td>0(New)</td><td>0.1</td><td>0.1</td><td>Order accepted</td></tr><tr><td>3</td><td>OrderCancelRequest&#x3C;F></td><td>-</td><td>-</td><td>-</td><td>-</td><td>LP cancels the order</td></tr><tr><td>4</td><td>ExecutionReport&#x3C;8></td><td>4(Cancel)</td><td>4(Cancelled)</td><td>0.1</td><td>0.1</td><td>Order cancelled and no longer exists in the order book</td></tr></tbody></table>

<details>

<summary>Example of the messages</summary>

{% code overflow="wrap" lineNumbers="true" %}

```
8=FIX.4.4|9=183|35=D|34=3|49=<api_key>|52=20240508-14:26:50.359|56=FINERYMARKETS|11=1|38=10000000|40=2|44=300000000000|54=1|55=BTC-USD|59=1|60=20240508-14:26:50.143|10=028|
8=FIX.4.4|9=182|35=8|34=3|49=FINERYMARKETS|52=20240508-14:26:50.360|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=104|
8=FIX.4.4|9=185|35=F|34=4|49=<api_key>|52=20240508-14:26:50.360|56=FINERYMARKETS|11=1|41=1|54=1|55=BTC-USD|60=20240508-14:26:50.143|10=010|
8=FIX.4.4|9=182|35=8|34=4|49=FINERYMARKETS|52=20240508-14:26:50.360|56=<api_key>|11=1|17=1|37=1|38=10000000|39=4|44=300000000000|54=1|55=BTC-USD|150=4|151=10000000|10=113|
```

{% endcode %}

</details>

### CancelOrder: <mark style="background-color:red;">Reject</mark>

| 1 | OrderCancelRequest\<F>             | LP tries to cancel non-existing order      |
| - | ---------------------------------- | ------------------------------------------ |
| 2 | <p>OrderCancelReject</p><p><9></p> | Rejected with an FM error code in Text<58> |

<details>

<summary>Example of the messages</summary>

{% code overflow="wrap" lineNumbers="true" %}

```
8=FIX.4.4|9=150|35=F|34=2|49=<api_key>|52=20240508-14:34:35.941|56=FINERYMARKETS|11=1|41=1|54=1|55=BTC-USD|60=20240508-14:34:35.737|10=162|
8=FIX.4.4|9=133|35=9|34=2|49=FINERYMARKETS|52=20240508-14:34:35.941|56=<api_key>|11=1|39=0|41=1|58=80|102=99|434=1|10=129|
```

{% endcode %}

</details>

## Modification of the Orders

### Cancel/Replace Order: <mark style="background-color:green;">Replace New Order</mark>

<table><thead><tr><th width="140">Msg Num</th><th width="137">Message</th><th width="160">ExecType&#x3C;150></th><th width="152">OrdStatus&#x3C;39></th><th width="157">OrderQty&#x3C;38></th><th width="160">LeavesQty&#x3C;151></th><th width="157">Description</th></tr></thead><tbody><tr><td>1</td><td>NewOrderSingle&#x3C;D></td><td>-</td><td>-</td><td>0.1</td><td>-</td><td>LP sends an order</td></tr><tr><td>2</td><td>ExecutionReport&#x3C;8></td><td>0(New)</td><td>0(New)</td><td>0.1</td><td>0.1</td><td>Order accepted</td></tr><tr><td>3</td><td>OrderCancel/ReplaceRequest&#x3C;G></td><td>-</td><td>-</td><td>0.1</td><td>-</td><td>LP requests to replace the order</td></tr><tr><td>4</td><td>ExecutionReport&#x3C;8></td><td>5(Replace)</td><td>0(New)</td><td>0.1</td><td>0.1</td><td>Order replaced, new order created, new OrderID&#x3C;37> assigned</td></tr></tbody></table>

<details>

<summary>Examples of the messages</summary>

{% code overflow="wrap" lineNumbers="true" %}

```
8=FIX.4.4|9=183|35=D|34=3|49=<api_key>|52=20240508-14:43:58.276|56=FINERYMARKETS|11=1|38=10000000|40=2|44=300000000000|54=1|55=BTC-USD|59=1|60=20240508-14:43:58.084|10=034|
8=FIX.4.4|9=182|35=8|34=3|49=FINERYMARKETS|52=20240508-14:43:58.277|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=108|
8=FIX.4.4|9=184|35=G|34=4|49=<api_key>|52=20240508-14:43:58.277|56=FINERYMARKETS|11=42|37=1|38=10000000|40=2|41=1|44=350000000000|54=1|55=BTC-USD|60=20240508-14:43:58.084|10=094|
8=FIX.4.4|9=188|35=8|34=4|49=FINERYMARKETS|52=20240508-14:43:58.278|56=<api_key>|11=42|17=2|37=2|38=10000000|39=0|41=1|44=350000000000|54=1|55=BTC-USD|150=5|151=10000000|10=137|
```

{% endcode %}

</details>

### Cancel/Replace Order: <mark style="background-color:green;">Replace Partially Filled Order</mark>

<table><thead><tr><th width="121">Msg Num</th><th width="106">Message</th><th width="155">ExecType&#x3C;150></th><th width="157">OrdStatus&#x3C;39></th><th width="134">OrderQty&#x3C;38></th><th width="154">LeavesQty&#x3C;151></th><th>Description</th></tr></thead><tbody><tr><td>1</td><td>NewOrderSingle&#x3C;D></td><td>-</td><td>-</td><td>0.2</td><td>-</td><td>LP sends an order</td></tr><tr><td>2</td><td>ExecutionReport&#x3C;8></td><td>0(New)</td><td>0(New)</td><td>0.2</td><td>0.2</td><td>Order accepted</td></tr><tr><td>3</td><td>ExecutionReport&#x3C;8></td><td>F(Trade)</td><td>1(Partially filled)</td><td>0.2</td><td>0.1</td><td>Trade happened, the order is partially filled</td></tr><tr><td>4</td><td>OrderCancel/ReplaceRequest&#x3C;G></td><td>-</td><td>-</td><td>0.2</td><td>-</td><td>LP requests to replace the order</td></tr><tr><td>5</td><td>ExecutionReport&#x3C;8></td><td>5(Replace)</td><td>0(New)</td><td>0.1</td><td>0.1</td><td>Order replaced, new order created, <strong>new OrderID&#x3C;37> assigned</strong></td></tr></tbody></table>

<details>

<summary>Examples of the messages</summary>

{% code overflow="wrap" lineNumbers="true" %}

```
8=FIX.4.4|9=183|35=D|34=2|49=<api_key>|52=20240508-14:53:40.580|56=FINERYMARKETS|11=1|38=20000000|40=2|44=300000000000|54=1|55=BTC-USD|59=1|60=20240508-14:53:40.380|10=092| 
8=FIX.4.4|9=182|35=8|34=2|49=FINERYMARKETS|52=20240508-14:53:40.581|56=<api_key>|11=1|17=1|37=1|38=20000000|39=0|44=300000000000|54=1|55=BTC-USD|150=0|151=20000000|10=176| 
8=FIX.4.4|9=259|35=8|34=3|49=FINERYMARKETS|52=20240508-14:53:40.633|56=<api_key>|11=1|17=1|31=300000000000|32=10000000|37=1|38=20000000|39=1|44=300000000000|54=1|55=BTC-USD|60=20240508-14:53:40.632|136=1|137=0|139=8|150=F|151=10000000|958=2|10=226| 
8=FIX.4.4|9=184|35=G|34=3|49=<api_key>|52=20240508-14:53:40.634|56=FINERYMARKETS|11=42|37=1|38=20000000|40=2|41=1|44=350000000000|54=1|55=BTC-USD|60=20240508-14:53:40.380|10=151| 
8=FIX.4.4|9=188|35=8|34=4|49=FINERYMARKETS|52=20240508-14:53:40.634|56=<api_key>|11=42|17=3|37=3|38=10000000|39=0|41=1|44=350000000000|54=1|55=BTC-USD|150=5|151=10000000|10=204|
```

{% endcode %}

</details>

{% hint style="warning" %}
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).
{% endhint %}

### Cancel/Replace Order: <mark style="background-color:red;">The old order had been cancelled but the new one wasn't added</mark>

| 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> |

<details>

<summary>Examples of the messages</summary>

{% code overflow="wrap" lineNumbers="true" %}

```
8=FIX.4.4|9=183|35=D|34=3|49=<api_key>|52=20240508-14:58:50.131|56=FINERYMARKETS|11=2|38=20000000|40=2|44=300000000000|54=1|55=BTC-USD|59=1|60=20240508-14:58:49.216|10=014|
8=FIX.4.4|9=182|35=8|34=3|49=FINERYMARKETS|52=20240508-14:58:50.131|56=<api_key>|11=2|17=2|37=2|38=20000000|39=0|44=300000000000|54=1|55=BTC-USD|150=0|151=20000000|10=087|
8=FIX.4.4|9=183|35=G|34=4|49=<api_key>|52=20240508-14:58:50.132|56=FINERYMARKETS|11=1|37=2|38=20000000|40=2|41=2|44=350000000000|54=1|55=BTC-USD|60=20240508-14:58:49.216|10=020|
8=FIX.4.4|9=188|35=8|34=4|49=FINERYMARKETS|52=20240508-14:58:50.132|56=<api_key>|11=2|17=2|37=2|38=20000000|39=4|41=2|44=300000000000|54=1|55=BTC-USD|58=74|150=5|151=20000000|10=126|
```

{% endcode %}

</details>

{% hint style="info" %}
Previously Finery Markets sent 2 messages, now only 1 with a cancelation notification and an error code (Message #4)
{% endhint %}

### Cancel/Replace Order: <mark style="background-color:red;">Rejection</mark>

| Msg Num | Message                            | Description                              |
| ------- | ---------------------------------- | ---------------------------------------- |
| 1       | OrderCancel/ReplaceRequest\<G>     | LP tries to replace a non-existing order |
| 2       | <p>OrderCancelReject</p><p><9></p> | Reject, FM error code in Text<58>        |

<details>

<summary>Examples of the messages</summary>

{% code overflow="wrap" lineNumbers="true" %}

```
8=FIX.4.4|9=183|35=G|34=2|49=UEY0pblIVyfEYFClzjIyoIhN0zog1vewjQnTO2qKulp|52=20240508-15:19:20.280|56=FINERYMARKETS|11=1|37=1|38=20000000|40=2|44=299900000000|54=1|55=BTC-USD|60=20240508-15:19:20.070|10=136|
8=FIX.4.4|9=133|35=9|34=2|49=FINERYMARKETS|52=20240508-15:19:20.280|56=UEY0pblIVyfEYFClzjIyoIhN0zog1vewjQnTO2qKulp|11=1|37=1|39=0|41=1|58=80|102=99|434=2|10=107|
```

{% endcode %}

</details>

## Results of Taker's Trading

### Order <mark style="background-color:yellow;">partially Filled</mark>

<table><thead><tr><th width="120">Msg Num</th><th width="108">Message</th><th width="153">ExecType&#x3C;150></th><th width="152">OrdStatus&#x3C;39></th><th width="144">OrderQty&#x3C;38></th><th width="158">LeavesQty&#x3C;151></th><th width="153">Description</th></tr></thead><tbody><tr><td>1</td><td>NewOrderSingle&#x3C;D></td><td>-</td><td>-</td><td>0.2</td><td>-</td><td>LP sends an order</td></tr><tr><td>2</td><td>ExecutionReport&#x3C;8></td><td>0(New)</td><td>0(New)</td><td>0.2</td><td>0.2</td><td>Order accepted</td></tr><tr><td>3</td><td>ExecutionReport&#x3C;8></td><td>F(Trade)</td><td>1(Partially filled)</td><td>0.2</td><td>0.1</td><td>Trade happened, the order is partially filled</td></tr></tbody></table>

<details>

<summary>Examples of the messages</summary>

{% code overflow="wrap" lineNumbers="true" %}

```
8=FIX.4.4|9=183|35=D|34=2|49=<api_key>|52=20240508-14:53:40.580|56=FINERYMARKETS|11=1|38=20000000|40=2|44=300000000000|54=1|55=BTC-USD|59=1|60=20240508-14:53:40.380|10=092|
8=FIX.4.4|9=182|35=8|34=2|49=FINERYMARKETS|52=20240508-14:53:40.581|56=<api_key>|11=1|17=1|37=1|38=20000000|39=0|44=300000000000|54=1|55=BTC-USD|150=0|151=20000000|10=176|
```

{% endcode %}

</details>

### Order <mark style="background-color:green;">Filled in Full</mark><br>

<table><thead><tr><th width="121">Msg Num</th><th width="112">Message</th><th width="149">ExecType&#x3C;150></th><th width="151">OrdStatus&#x3C;39></th><th width="144">OrderQty&#x3C;38></th><th width="156">LeavesQty&#x3C;151></th><th width="144">Description</th></tr></thead><tbody><tr><td>1</td><td>NewOrderSingle&#x3C;D></td><td>-</td><td>-</td><td>0.2</td><td>-</td><td>LP sends an order</td></tr><tr><td>2</td><td>ExecutionReport&#x3C;8></td><td>0(New)</td><td>0(New)</td><td>0.2</td><td>0.2</td><td>Order accepted</td></tr><tr><td>3</td><td>ExecutionReport&#x3C;8></td><td>F(Trade)</td><td>2(Filled)</td><td>0.2</td><td>0</td><td>Trade happened, the order is filled and no longer exists in the order book</td></tr></tbody></table>

<details>

<summary>Examples of the messages</summary>

{% code overflow="wrap" lineNumbers="true" %}

```
8=FIX.4.4|9=183|35=D|34=2|49=<api_key>|52=20240508-15:29:39.362|56=FINERYMARKETS|11=1|38=10000000|40=2|44=300000000000|54=1|55=BTC-USD|59=1|60=20240508-15:29:39.140|10=084|
8=FIX.4.4|9=182|35=8|34=2|49=FINERYMARKETS|52=20240508-15:29:39.363|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=161|
8=FIX.4.4|9=252|35=8|34=3|49=FINERYMARKETS|52=20240508-15:29:39.413|56=<api_key>|11=1|17=1|31=300000000000|32=10000000|37=1|38=10000000|39=2|44=300000000000|54=1|55=BTC-USD|60=20240508-15:29:39.413|136=1|137=0|139=8|150=F|151=0|958=2|10=132|
```

{% endcode %}

</details>

{% hint style="danger" %}
If the order has been fully utilized by a Taker, you can no longer modify it
{% endhint %}