The Don't Know Trade (DK) (Q) message notifies a trading partner that an electronically received execution has been rejected. This message can be thought of as an execution 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 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 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 | |||
| 65 | SymbolSfx | N | |||
| 48 | SecurityID | N | |||
| 22 | IDSource | N | |||
| 167 | SecurityType | N | Must be specified if a Future or Option. If a Future: Symbol (55) , SecurityType (167) , and MaturityMonthYear (200) are required. If an Option: Symbol (55) , SecurityType (167) , PutOrCall (201) , and StrikePrice (202) are required. |
||
| 200 | MaturityMonthYear | C | For Options or Futures to specify the month and year of maturity. |
||
| 205 | MaturityDay | N | For Options or Futures and can be used in conjunction with MaturityMonthYear (200) to specify a particular maturity date. |
||
| 201 | PutOrCall | C | For Options. |
||
| 202 | StrikePrice | C | For Options. |
||
| 206 | OptAttribute | N | For Options. |
||
| 207 | SecurityExchange | N | Can be used to identify the security. |
||
| 106 | Issuer | N | |||
| 107 | SecurityDesc | N | |||
| 54 | Side | Y | |||
| 38 | OrderQty | C | Either CashOrderQty (152) or OrderQty (38) is required. |
||
| 152 | CashOrderQty | C | Either CashOrderQty (152) or OrderQty (38) is required. Specifies the approximate "dollar quantity" for
the order. Broker is responsible for converting and calculating OrderQty (38) in shares for subsequent messages. |
||
| 32 | LastShares | N | Required if specified on the ExecutionRpt (8)
|
||
| 31 | LastPx | N | Required if specified on the ExecutionRpt (8)
|
||
| 58 | Text | N | |||
| <Standard Message Trailer> | Y | ||||