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 message ( LastQty (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 (Q) messages to be generated.
| Tag | Field Name | FIXML | Req'd | Comments | |||
|---|---|---|---|---|---|---|---|
| <Standard Message Header> | Y | MsgType = Q | |||||
| 37 | OrderID | OrderID | Y | Broker Order ID as identified on problem execution | |||
| 17 | ExecID | ExecID | Y | Execution ID of problem execution | |||
| 127 | DKReason | DK_Reason | Y | ||||
| <Instrument> | Y | ||||||
| 54 | Side | Side | Y | ||||
| <Order Qty Data> | Y | ||||||
| 32 | LastQty | LastQty | N | Required if specified on the ExecutionRpt (8) | |||
| 31 | LastPx | LastPx | N | Required if specified on the ExecutionRpt (8) | |||
| 58 | Text | Text | N | ||||
| 354 | EncodedTextLen | EncodedTextLen | C | Must be set if EncodedText (355) field is specified and must immediately precede it. | |||
| 355 | EncodedText | EncodedText | C | Encoded (non-ASCII characters) representation of the Text (58) field in the encoded format specified via the MessageEncoding (347) field. | |||
| <Standard Message Trailer> | Y | ||||||
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