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The following example illustrates the message flow for a client using the disabled IFM Cancel/Replace functionality.

When customers send the Order Cancel/Replace Request (tag 35-MsgType=G) message, they must populate it with the quantity that they want to be open in the market, irrespective of the amount that has been previously filled.

  1. The client sends a New Order (tag 35-MsgType=D) message to CME Globex.
     
    • (tag 38-OrderQty = 15)
       
  2. CME Globex responds with an Execution Report – Order Confirmation (tag 35-MsgType=8) message.
     
    • (tag 38-OrderQty = 15, tag 151-LeavesQty = 15)
       
  3. CME Globex sends an Execution Report – Partial Fill (tag 35-MsgType=8) message.
     
    • (tag 38-OrderQty = 15, tag 32-LastShares = 2, tag 151-LeavesQty = 13)
       
  4. The client sends a Cancel/Replace Request (tag 35-MsgType=G) message to change the quantity.
     
    • (tag 38-OrderQty = 10)
       
  5. CME Globex responds with an Execution Report – Cancel/Replace Confirmation (tag 35-MsgType=8) message.
     
    • (tag 38-OrderQty = 10, tag 151-LeavesQty = 10)
       
  6. CME Globex sends an Execution Report – Fill (tag 35-MsgType=8) message.
     
    • (tag 38-OrderQty = 10, tag 151-LeavesQty = 0, tag 32-LastShares = 10)
       

The following table provides a summary of the quantities associated with the previous example.

Action

Tag 38-OrderQty

Tag 32-LastShares

Tag 151-LeavesQty

Total Filled Qty

New Order for quantity of 15

15

-

-

0

Confirmation

15

-

15

0

Partial Fill for 2

15

2

13

2

Cancel/Replace to quantity of 10

10

-

10

2

Confirmation

10

-

10

2

Fill for 10

10

10

0

12

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