The Kodiak OMS FIX gateway is designed to receive order instructions from brokers through the FIX protocol. The FIX gateway creates Client Orders in the Kodiak OMS Server/Client when instructions are received. When the instructions are interacted with the FIX gateway send FIX message to the broker with the FIX protocol.
Communication with the broker
The Kodiak OMS FIX gateway can receive and send messages in the FIX 4.2 protocol. The gateway interacts with the broker like an exchange. When a order instruction (NewOrderSingle) is sent to the FIX gateway, it responds with an acknowledgement that the instruction was received. The gateway will keep the broker updated with executions/cancels on the order instruction. The broker can cancel the order instruction then the FIX gateway will cancel the order instruction to the Kodiak OMS Server/Client.
Communication with Kodiak OMS
A new order through the FIX Gateway is received the order will appear in Kodiak OMS as a Client Order. The solution can be configured to send the orders direct to market or with the workflow status “Assigned” then a user in the Kodiak OMS system has to send the order manually to the market. The FIX gateway monitors the Client Order in Kodiak OMS and sends updates to the broker as soon as there are changes (executions/cancels) to the Client Order.
Configuration
The Kodiak OMS FIX gateway can be configured:
To create the Client Orders for a specific customer, account and portfolio in the Kodiak OMS system.
To display the sending trader sending the order instruction
To only be available for specific sub markets in the Kodiak OMS system
To send the Client orders directly to the market or not
Overview
