The Execution Report message is used to:

1. Confirm the receipt of an order
2. Confirm changes to an existing order, i.e. accept cancel and replace requests
3. Relay order status information
4. Relay fill information on working orders
5. Reject orders
6. Report the post-trade fee calculations associated with a trade

Execution Reports do not replace end-of-day confirmations.

Separate Execution Reports are sent for each order in a New Order List <35=E>.

OrdStatus (39) is used to convey the current state of the order. The order statuses are as follows:

OrdStatus	Description
New	Outstanding order with no executions
Partially Filled	Outstanding order with executions and remaining quantity
Filled	Order completely filled, no remaining quantity
Done for Day	Order not filled, or partially filled; no further executions possible for the trading day
Canceled	Canceled order with or without executions
Replaced	Replaced order with or without executions
Pending Cancel/Replace	Order with cancel request pending, used to confirm receipt of cancel or replace request. Does not indicate that the order has been canceled or replaced
Stopped	Order has been stopped at the exchange. Used when guaranteeing or protecting a price and quantity
Rejected	Order has been rejected by the sell-side. Note: an order can be rejected subsequent to order acknowledgment, i.e. an order can pass from New to Rejected status
Suspended	Order has been placed in suspended state at the request of the client
Pending New	Order has been received by the sell-side's system but not yet accepted for execution. An execution message with this status will only be sent in response to a Status Request message
Expired	Order has been canceled in broker's system due to time-in-force instructions
Calculated	Order has been completed for the day, either filled or done for day. Commission or currency settlement details have been calculated and reported in this execution message

The CumQty (14) and AvgPx (6) fields should be calculated to reflect the fills on all versions of an order. For example, if partially filled order A were replaced by order B, the CumQty (14) and AvgPx (6) on order B’s fills should represent the fills on order A plus those on order B.

The field ClOrdID (11) is provided for institutions to affix an identification number to an order to coincide with internal systems. The OrderId field is populated with the broker-generated order number.