Managing the order book state
About order book state
In this manual, the term, order book state, refers to the combined status of the following at a moment in time:
- Trader’s working orders
- Trader’s current position
- List of fills that constitute a trader’s position
Order book state models
TT FIX Adapter offers two models for managing the order book state for FIX order sessions:
Note: TT FIX Adapter requires all FIX price sessions to be non-persistent.
The following sections explain the differences between using persistent and non-persistent FIX order sessions and describe the considerations you must take into account when developing a FIX client so it correctly manages order book states.