Order/Quote Cancel and Reject Reasons

In response to Mass Cancel and Purge Orders operations, TPHs may receive cancellations of existing orders/quotes. In addition, as a result of a Post-Execution Risk Limit violation, Kill Switch or Lockouts new orders/quotes may be rejected. In all cases FIX and BOE order entry protocols provide the ability to introspect the specific reason for an order/quote cancellation/rejection as follows:

BOE - Order Cancelled messages contain the CancelReason mandatory field and Order Rejected messages contain the OrderRejectReason mandatory field. These values reference a set of Reason Codes defined in the Cboe Titanium Cboe Futures Exchange BOE Version 3 Specification.

BOE Quote - Quote Cancelled messages contain the CancelReason mandatory field and Quote Rejected messages contain the QuoteRejectReason mandatory field. These values reference a set of Reason Codes defined in the Cboe Titanium Cboe Futures Exchange BOE Version 3 Specification.

FIX - An Execution Report message representing an order cancellation will contain ExecType (150) = 4. An Execution Report message representing an order rejection will contain ExecType (150) = 8. In both cases, the Text (58) field will encode the reason for cancellation or rejection comprising a reason code and formatted text as described in the Execution Report Text (58) field description in the Cboe Titanium Cboe Futures Exchange FIX Specification.