ContingencyType/1 OneCancelsTheOther
From FIXwiki
ContingencyType Value 1
| Value | Name | Field(tag) | First introduced | Deprecated |
|---|---|---|---|---|
| 1 | OneCancelsTheOther | ContingencyType(1385) | FIX.5.0 |
A One Cancels the Other (OCO) order is an order whose execution results in the immediate cancellation of another order linked to it. Cancellation of the Contingent Order happens on a best efforts basis. In an OCO order, both orders are live in the marketplace at the same time. The execution of either order triggers an attempt to cancel the unexecuted order. Partial executions will also trigger an attempt to cancel the other order.
Notes
Error in FIX Specification:
The Glossary (Spec volume 1) incorrectly associates this value with the field ListExecInst.
