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Understanding Order Management

Order Feed Behavior

Each individual Order Router (FIX Order Session in the hostinfo.cfg file) creates a distinct FIX Session connection independent of the Price Server.

Order Server Data Flow

The following is a description of order data flow from the Order Server to the exchange host:

  1. The Order Server connects to SFE using connection information contained in the hostinfo.cfg file.
  2. The Order Server downloads all order data from ASX.
  3. X_TRADER® logs into the TT Gateway.
  4. X_TRADER® submits an order to the Order Server.
  5. The Order Server sends and ACCEPT/ADD message to the trader’s Audit Trail (in X_TRADER®).
  6. The Order Server sends the order to the ASX Host.
  7. Upon receipt, the ASX Host sends an order confirmation back to the Order Server.
  8. The Order Server sends the order confirmation (as an OK/ADD) to the trader’s Audit Trail in X_TRADER®.

Fill Server Data Flow

The following is a description of fill data flow from the Fill Server to the exchange host:

  1. The Administrator or TTChron starts the Fill Server. The Fill Server creates the Fill Server logfile and displays as initializing in Guardian.
  2. The client application connects with the Fill Server and requests position for all logged in traders.
  3. The Fill Server forwards position information from the bof.tbl file to the client application.
  4. As traders enter orders, the Fill Server updates the order status in the trader’s Audit Trail.