Workflow

CLOB Orders.

Algo Orders.

Supported Instruments

Please refer to Whisperer Enterprise - Supported Instruments for the full Enterprise table across all venues.

PartyIDs

Please refer to Whisperer Enterprise - PartyIDs for the full Enterprise table across all venues.

Regulatory Fields

Please refer to or Regulatory Fields for the full Enterprise table across all venues.

Passthru Details

Please refer to Passthru Fields for the full Enterprise table across all venues.

Details

Algo Selection

In addition to standard Iceberg orders, LSEG FX also supports the specification of Iceberg orders with more complex attributes, which are offered as a standard Algo strategy.

The table below sets out the Iceberg order Strategy parameters and combinations currently supported.

Trade Correct/Cancel

LSEG supports a standard TradeCancel and TradeCorrect workflow for SPOT trades and an offset Trade Correct/Cancel workflow for NDFs.

SPOT

For Spot trades, Clients will be notified of these in a separate ExecutionReport with ExecType = TradeCorrect or TradeCancel as appropriate.

Depending on the scenario, possible fields to be modified are listed below:

• If the Trade correction is to update the LegLastPx or LegSettlDate, then a single ExecutionReport is sent with an ExecType TradeCorrect and OrdStatus Filled or PartiallyFilled depending on the quantity remaining on the order.
• If Trade cancellation or correction is to reduce the LegLastQty, then the cancelled or reduced quantity will not be added to the order book. In this case, the Client will receive two ExecutionReports with variations outlined below:

  • Order Status

• • Quantities

First ExecutionReport will indicate the canceled or reduced qty in LegLeavesQty.

Second ExecutionReport is sent to reflect the reduced or cancelled quantity in LegOrderQty.

                     The LegLeavesQty and LegCumQty of an active order will always add up to its LegOrderQty.

• • Trade Identifiers 

ExecRefID - Trade Correct/Cancel ExecutionReports ExecRefID matches with the ExecID of the trade that is being cancelled or corrected.

BodyPassThruKey TrdMatchID - TrdMatchID of the Trade Correct/Cancel ExecutionReport matches with TrdMatchID of the trade that is being cancelled or corrected.

SecondaryExecID - SecondaryExecID of the Trade Correct/Cancel ExecutionReport matches with the SecondaryExecID of the trade that is being cancelled or corrected.

NDF

For NDFs, as opposed to standard Trade Correct/Cancel workflow, LSEG will deliver new offset trades to adjust the positions as necessary. This is due to the fact that NDFs are always Cleared and LSEG cannot amend or cancel an already Cleared trade.

Offset TradeCancel

Clients will be notified of Trade cancellation in an ExecutionReport with:

• ClOrdID and OrigClOrdID of the offset trade will match with the original trade.
• ExecType and OrdStatus will be Trade and Filled respectively.
• ExecRefID of the offset trade will match the ExecID of the original trade.
• SecondaryExecID of the offset trade will match the BodyPassThruKey TrdMatchID of the original trade.
• LegSide of the offset trade will be the reverse of the original trade.
• BodyPassthruKey ClearedIndicator will be set to "Submitted".
• BodyPassthruKey ClearingIntention will be set to "IntendToClear".
• Text field of the offset trade is populated with "Offset Trade".

Offset TradeCorrect

In case of Offset Trade correction, Clients will receive two ExecutionReports:

• First one will be as per the above Offset TradeCancel workflow.
• Second with amended trade attributes. 

Additional Information