Background

ExecutionAcknowledgement/ 35=BN is commonly supported by most ECNs to ACK or NACK a client's ExecutionReport and is considered .We treat ExecutionAcknowledgement (and OrderTimeout) as the end of the order life cycle in the maker workflow (please refer ESP/RFS/RFQ State Transition Model), where Whisperer clients are the market makers.

However, Integral is an anomaly and does not send an ExecutionAcknowledgement to notify the client that their ExecutionReport is Accepted or Rejected was Accepted. Several other ECNs do not support ExecutionAcknowledgement when the order was Rejected by the maker.

To normalise the order lifecycle in the maker workflow, MarketFactory will introduce a synthetic ExecutionAcknowledgement, if the venue API does not support the message in the maker gateways to address the gaps in venue behaviour.

Affected Venues

• cboefx_fixproxy
• fxall_activetrading_maker
• fxall_quicktrade_maker
• integral_esp_maker
• integral_rfs_maker
• lseg_fxall_maker
• t360_supersonic_maker
• t360_tex_maker

Change

In order to To address a normalisation gap in the maker workflow order lifecycle, MarketFactory will introduce a synthetic synthetic ExecutionAcknowledgement, in the absence of a venue ACK, in response to our client's the maker's Filled or Rejected ExecutionReport.

Timeline

• 25 Jul 12 Sept 2025 - UAT - MarketFactory will introduce the synthetic ExecutionAcknowledgement for clients to test the affected venues in UAT.
• 15 Aug 16 Sept 2025- PROD - Whisperer release 2025.0809.XX16.WE to expose with the synthetic synthetic ExecutionAcknowledgement change in PRODwill be available for clients.