The Don't Know Trade (DK) (Q) message is used to notify a trading partner that an electronically received execution has been rejected. This message can be thought of as an Execution (8) reject message.
This message has special utility when dealing with one-way execution reporting, if the initial Order Acknowledgment (8) message ( LastShares (32) =0 and OrdStatus (39) =New) does not match an existing order this message can be used to notify the broker of a potential problem order.
Note that the decision to DK (Q) an execution lies with the institution; some of the mismatches listed in the DKReason (127) field may be acceptable and will not require a DK (Q) messages to be generated.
| Tag | Field Name | Req'd | Comments | ||
|---|---|---|---|---|---|
| <Standard Message Header> | Y | MsgType = Q |
|||
| 37 | OrderID | N | Broker Order Id as identified on problem execution |
||
| 17 | ExecID | N | Execution Id of problem execution |
||
| 127 | DKReason | Y | |||
| 55 | Symbol | Y | |||
| 54 | Side | Y | |||
| 38 | OrderQty | Y | |||
| 32 | LastShares | Y | |||
| 31 | LastPx | Y | |||
| 58 | Text | N | |||
| <Standard Message Trailer> | Y | ||||