This topic describes iLink Execution Report - Fill messaging behavior for aggressing and resting orders in FIFO and Non-FIFO markets and also describes additional Execution additional Execution Report - Fill considerations.
Contents
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| Scenario | Behavior |
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| Aggressing Order | One fill sent per trade price and per liquidity source regardless of how many counter-parties traded with |
| Resting Order (FIFO Market) | For all order types other than Display Quantity, no change from today. |
| Resting Order (Non-FIFO Market) | One fill sent with trade quantity aggregated from all match algorithm steps |
| Display Quantity (DQ) Order | One fill sent with trade quantity aggregated from all refreshes |
Opening Trade | All bids and asks receive one fill for each order in alternating sequence (i.e., BUY/SELL, BUY/SELL, etc.) |
Video overview 
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Fills for Aggressing Orders
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| Gliffy | ||||
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| Trader | Trade qty & price | Description | Liquidity Source |
|---|---|---|---|
Trader X | 24@9802 (ZCU1) | Aggressor | Implied1 Source |
Trader B | 16@9805 (ZCN1) | Within leg1 orders, 24 is allocated on a pro rata basis and the sequence is based on higher pro rata qty | |
Trader A | 8@9805 (ZCN1) | ||
Trader C | 24@3 (ZCN1-ZCU1) | Spread | |
24@9805 (ZCN1) | Leg1 of spread | ||
24@9802 (ZCU1) | Leg2 of spread | ||
Trader X | 20@9802 (ZCU1) | Aggressor | Customer Source |
Trader H | 12@9802 (ZCU1) | Within leg2 Customer orders, 20 is allocated on a pro rata basis and the sequence is based on higher pro rata qty | |
Trader G | 8@9802 (ZCU1) | ||
Trader X | 16@9802 (ZCU1) | Aggressor | Implied2 Source |
Trader D | 16@9800 (ZCZ1) | Leg3 | |
Trader F | 12@2 (ZCU1-ZCZ1) | Spread | |
12@9802 (ZCU1) | Leg of the spread | ||
12@9800 (ZCZ1) | Leg of the spread | ||
Trader E | 4@2 (ZCU1-ZCZ1) | Spread | |
4@9802 (ZCU1) | Leg of the spread | ||
4@9800 (ZCZ1) | Leg of the spread |
Aggressor Matches with Implied Orders in Pro Rata Market - Market Data Trade Summary Message
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