Appendix D: Order State Change Matrices

L.1.a — Transmitting a guarantee of execution prior to execution (Stopped/Guarantee)

Time Message Received (ClOrdID, OrigClOrdID) Message Sent (ClOrdID, OrigClOrdID) Exec Type OrdStatus Order Qty Cum Qty Leaves Qty Last Qty Comment
1 New Order(X)       10000        
2 Execution(X) Rejected Rejected 10000 0 0 0 If order is rejected by sell-side (broker, exchange, ECN)
2 Execution(X) New New 10000 0 10000 0
3 Execution(X) Stopped Stopped 10000 0 10000 1000 Text="You are guaranteed to buy 1000 at 50.10"; LastPx=50.10. This is similar to the concept of a "protected" trade. Not actually reporting a trade, so Exectype = Stopped
4 Execution(X) Trade Stopped 10000 1000 9000 1000 LastPx=50
* executed price is better than guaranteed

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