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If a customer changes the terms of an order, can I submit a Cancel Report and a New Order Report in lieu of a Cancel/Replace Report?

April 26, 2017cancel changes customer lieu replace report submit terms

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If a customer changes the terms of an order, can I submit a Cancel Report and a New Order Report in lieu of a Cancel/Replace Report?

1 Answer

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No. OATS must reflect the fact that the customer changed the order; therefore, a Cancel/Replace Report is required. However, there is one exception, when you begin reporting to OATS, you can file a New Order Report in lieu of a Cancel/Replace Report for an order that was originated prior to your Reporting Date. This will allow all future Cancel/Replace, Routing, Cancel, and Execution reports to match with a New Order Report in OATS.