State Change Tracking

For members that wish to track the state of their routable orders, they may opt-in to the following functionality at the port level by contacting the Cboe Trade Desk.

Order acks (150=0), modify acks (150=5) and restatements (150=D with 378=4) will carry TradeLiquidityIndicator (9730) as follows:

• A = Zero or more immediate partial remove fills followed by posting.
• R = Zero or more immediate partial remove fills followed by a cancel (or full fill).
• X = Zero or more immediate partial remove fills followed by routing.

When an order returns from the router, a restatement will be generated with FIX Tags:

• 150 = D (Restated)
• 378 = 4 (State Change)
• 58 = A (Admin)
• 9730 = A, X or R (as defined in Execution Report Message Fields)
• Order details to match the order (OrdQty, Price, etc.)
• Cumulative execution details to match the current status (CumQty, LeavesQty, etc.)
• Current execution details zeroed (LastPx, LastShares, etc.)