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 (Execution Report with LastQty=0 and OrdStatus=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 | FIXML | Req'd | Comments | |||
|---|---|---|---|---|---|---|---|
| <Standard Message Header> | Y | MsgType = Q | |||||
| 37 | OrderID | @OrdID | Y | Encoded (non-ASCII characters) representation of the Text (58) field in the encoded format specified via the MessageEncoding (347) field. | |||
| 198 | SecondaryOrderID | @OrdID2 | N |
Assigned by the party which accepts the order. Can be used to provide the OrderID (37) used by an exchange or executing system. |
|||
| 17 | ExecID | @ExecID | Y |
Execution ID of problem execution |
|||
| 127 | DKReason | @DkRsn | Y |
Reason for execution rejection. |
|||
| <Instrument> | Y | ||||||
| <UndInstrmtGrp> | N |
Number of underlyings |
|||||
| <InstrmtLegGrp> | N |
Number of Legs |
|||||
| 54 | Side | @Side | Y |
Side of order (see Volume : "Glossary" for value definitions) |
|||
| <OrderQtyData> | Y | ||||||
| 32 | LastQty | @LastQty | N |
Required if specified on the ExecutionRpt |
|||
| 31 | LastPx | @LastPx | N |
Required if specified on the ExecutionRpt |
|||
| 58 | Text | @Txt | N |
Free format text string (Note: this field does not have a specified maximum length) |
|||
| 354 | EncodedTextLen | @EncTxtLen | C |
Must be set if EncodedText field is specified and must immediately precede it. |
|||
| 355 | EncodedText | @EncTxt | C |
Encoded (non-ASCII characters) representation of the Text field in the encoded format specified via the MessageEncoding field. |
|||
| <Standard Message Trailer> | Y | ||||||
© 2026.
EPAM Systems. All Rights Reserved.
All material contained within the website is copyright of EPAM Systems, Inc. No material contained herein can be copied or otherwise used without the express permission of the copyright holder.