Execution Report

An execution report is the message a broker or venue returns describing what happened to an order: accepted, partially filled, filled, rejected, cancelled or expired, together with the price, quantity and timestamp of each event. In FIX connectivity it is a defined message type; on a retail terminal the same information appears in the journal, the trade history and the order's status column. It is the primary evidence in any dispute about a fill, because it records the sequence rather than only the outcome. A rejection reason, the exact moment an order reached the server, whether a fill was partial and across how many prices, and whether a stop triggered before or after a gap are all found there and nowhere else. Exporting or archiving these records while they are still available is worth doing before raising a complaint rather than afterwards, since retention periods on a live platform are finite.