How to read OrderID numbers?

Hey Ronin.


The FIX which is common protocol to almost everyone - except nasdaq; uses client order id, but this field only relays the sequence of messages through the day for a given session... Doesn't sound like this is what you're looking for...

Your broker seems to use some proprietary format for the OrderId... if that is the case then they're the ones who can explain what each character means... or you can crack the code through countless hours of observation and methodical record keeping...
 
Thanks for the FINRA link, I´m checking the FIX protocol right now to see if the numbers have some sense.

Ok, so if this number result in some "private code" that only the firm knows what it have behind, there is no way of verifying that the orders are getting into the venues that I´ve sent them without any interference of mm´s, internalizers etc?.
 
Quote from ronin266:

Ok, so if this number result in some "private code" that only the firm knows what it have behind, there is no way of verifying that the orders are getting into the venues that I´ve sent them without any interference of mm´s, internalizers etc?.
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Unless you know otherwise - for a fact, from your broker - you most likely are going through an internal matching engine.
 
Quote from ronin266:

Thanks for the FINRA link, I´m checking the FIX protocol right now to see if the numbers have some sense.

Ok, so if this number result in some "private code" that only the firm knows what it have behind, there is no way of verifying that the orders are getting into the venues that I´ve sent them without any interference of mm´s, internalizers etc?.
More...
If its just a sequence then the numbers are always going to get bigger through the day.
If it has a structure then you'll see that orders for a particular gw show a particular code always (so the # is not strictly increasing through the day)


However if you're trying to find if they internalize your flow this is a deadend. Even with the entire fix log such details are often left out of the fix and handled at the session configuration layer.
 
Quote from eusdaiki:

If its just a sequence then the numbers are always going to get bigger through the day.
If it has a structure then you'll see that orders for a particular gw show a particular code always (so the # is not strictly increasing through the day)


However if you're trying to find if they internalize your flow this is a deadend. Even with the entire fix log such details are often left out of the fix and handled at the session configuration layer.
More...


That´s what I fear. I was hoping to find a some logic sequence and see where does the order flow goes. I´ll try to contact some people that may know better about this to get a better idea.

Because knowing where do my orders go would help to find an edge I think. Even in the case that a big part of the flow goes into internalizators, a part should still be directed to the markets, and finding what is the criteria used to separate that flow from the internalized one should give some sort of edge.

The worse case scenario would be that there are a lot of micro-markets, that copy the overall movement, but it´s just a closed system where nothing goes out, in a casino like fashion. If there is NO POSSIBLE WAY to know that your orders are going somewhere (apart from live experimentation with odd lots, and comparation in parallel TnS that aren´t even stored properly in some platforms), and that there is no law to regulate those affairs...damn.....no wonder why there is no volume in the market, all that volume didn´t go anywhere, it just stayed in the b/d desks LOL

Anyway, those are just vague assumptions...:confused:,hope that it is not the case.
 
If you have to ask if your orders are being internalized - they are being internalized. Just take it as your base assumption and go from there - that ALL your orders go through internal matching before they hit the smart router.
 
Quote from Random.Capital:

If you have to ask if your orders are being internalized - they are being internalized. Just take it as your base assumption and go from there - that ALL your orders go through internal matching before they hit the smart router.
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Damn you for ruining my childhood dreams and hopes.....
 
Quote from emg:

ask your broker unless u are planning to commit

Fictitious Trade
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k9dr1x.jpg



http://en.wikipedia.org/wiki/Trading_room#Destroyed_rooms



good luck on your plan
 
Quote from ronin266:

lol, well, in fact I started the thread to find how can I check if a broker is committing factious trading.

I think that I should just email SEC and FINRA, maybe they will be able to give some hints about this orderID stuff
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2laeg5y.jpg


http://www.futuresmag.com/2010/10/28/nfa-sanctions-gain-capital-459000


In the world of FX, it is easy to commit factious and fictitious trade among the brokerages and traders because there is no standing exchange like stocks and futures exchanges.

u, as a small trader have no chance to win against the house because u are small if factious trade is committed. Only big traders have chance to win against their brokerage because they have money lots of lots of money.





P.S


The trading system is design for big traders and institution, and not for small trader.
 
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