These scenarios test the security list, disconnects, cancel-all, marketplace state and post-trade changes.
Get Security List
Optional. See Security List.
Goal: Receive the list of supported securities.
| Step | By | Action |
|---|
| 1 | You | Connect FIX and request the security list |
| Where | Observation |
|---|
| FIX-TR | The securities are sent to you |
Disconnect with Orders On
Goal: Check that all orders are canceled on disconnect and can be sent again after reconnect.
| Step | By | Action |
|---|
| 1 | You | Place some orders |
| 2 | You | Disconnect the FIX session |
| 3 | You | Reconnect and send new orders |
| Where | Observation |
|---|
| FIX-TR | The orders are accepted |
| Operations | OpenYield confirms that none of your orders remain on the market |
| FIX-TR | The new orders are accepted |
Client Cancel All
Goal: Test the Cancel All "big red button". See Cancel All.
| Step | By | Action |
|---|
| 1 | You | Place some orders |
| 2 | You | Send a Cancel All |
| Where | Observation |
|---|
| FIX-TR | The orders are accepted, then you receive cancel messages for all incomplete orders |
OpenYield Deactivate
Goal: Test your handling of OpenYield Operations deactivating you (the same effect as Cancel All).
| Step | By | Action |
|---|
| 1 | You | Place some orders |
| 2 | OpenYield | Deactivate you |
| 3 | OpenYield | Reactivate you |
| Where | Observation |
|---|
| FIX-TR | The orders are accepted, then you receive cancel messages for all incomplete orders |
| FIX-TR | New orders are accepted |
Marketplace Halt
Goal: Test your handling of OpenYield halting the marketplace. See Marketplace State.
| Step | By | Action |
|---|
| 1 | You | Place some orders |
| 2 | OpenYield | Halt the marketplace |
| 3 | OpenYield | Reopen the marketplace |
| 4 | You | Send orders during Pre-Open |
| Where | Observation |
|---|
| FIX-TR | The orders are accepted, you receive a HALT message, then cancel messages for all incomplete orders |
| FIX-TR | You receive the PRE-OPEN session state. Limit orders are accepted; crossing and market orders are rejected. You then receive the OPEN session state. |
Post Trade Cancel
Goal: Test your handling of a post-trade cancel, where OpenYield Operations cancels a fill after the order was filled. See Fill Cancels.
| Step | By | Action |
|---|
| 1 | You | Place a limit order |
| 2 | OpenYield | Hit/lift it completely |
| 3 | OpenYield | Cancel the fill from the Operations UI |
| Where | Observation |
|---|
| FIX-TR | The order is accepted and FILLED |
| FIX-DC | The execution is FILLED |
| FIX-TR | The order is canceled post trade |
| FIX-DC | The execution is CANCELED |
Post Trade Correct
Goal: Test your handling of post-trade size, party and price corrections, where OpenYield Operations changes an execution after the fact. See Fill Corrections.
| Step | By | Action |
|---|
| 1 | You | Place a limit order |
| 2 | OpenYield | Hit/lift it completely |
| 3 | OpenYield | Change the fill from the Operations UI (intermediating if needed) |
| Where | Observation |
|---|
| FIX-TR | The order is accepted and FILLED |
| FIX-DC | The execution is FILLED |
| FIX-TR | The order is updated post trade |
| FIX-DC | The execution is updated (CALCULATED) |