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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