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New Order - Single (MsgType = D, FIXML = Order)

The new order (D) message type is used by institutions wishing to electronically submit securities and forex orders to a broker for execution.

Orders can be submitted with special handling instructions and execution instructions. Handling instructions refer to how the broker should handle the order on its trading floor (see HandlInst (21) field). Execution instructions contain explicit directions as to how the order should be executed (see ExecInst (18) field).

New Order (D) messages received with the PossResend (97) flag set in the header should be validated by ClOrdID (11) and order parameters (side, symbol, quantity, etc.) to determine if the order had been previously submitted. PossResends previously received should be acknowledged back to the client via an Execution - Status (8) message. PossResends not previously received should be processed as a new order and acknowledged via an Execution - New (8) message.

To support forex accommodation trades, two fields, ForexReq (121) and SettlCurrency (120) , are included in the message. To request a broker to execute a forex trade in conjunction with the securities trade, the institution would set the ForexReq (121) = Y and SettlCurrency (120) = "intended settlement currency". The broker would then execute a forex trade from the execution currency to the settlement currency and report the results via the execution (8) message in the SettlCurrAmt (119) and SettlCurrency (120) fields.

The order (D) message can also be used to request a straight forex trade. Conventions for identifying a forex transaction are as follows:

To "take" an Indication of Interest (6) (or Quote (S) ) from an ECN or exchange and not display the order on the book, the New Order (D) message should contain the TimeInForce (59) field with ImmediateOrCancel and an OrdType (40) field with Previously Indicated ( or Previously Quoted).

Tag Field Name FIXML Req'd Comments
<Standard Message Header> Y MsgType = D
11 ClOrdID ClOrdID Y Unique identifier of the order as assigned by institution.
109 ClientID ClientID N Used for firm identification in third-party transactions.
76 ExecBroker ExecBroker N Used for firm identification in third-party transactions.
1 Account Account N
63 SettlmntTyp Settlement N Absence of this field is interpreted as Regular.
64 FutSettDate FutSettDate C Required when SettlmntTyp (63) = 6 (Future) or SettlmntTyp (63) = 8 (Sellers Option)
21 HandlInst HandInst Y
18 ExecInst ExecInst N Can contain multiple instructions, space delimited.
110 MinQty MinQty N
111 MaxFloor MaxFloor N
100 ExDestination ExecDestination N
81 ProcessCode ProcessCode N Used to identify soft trades at order entry.
55 Symbol Symbol Y
65 SymbolSfx SymbolSfx N
48 SecurityID SecurityID N
22 IDSource IDSource N
167 SecurityType SecurityType N Must be specified if a Future or Option. If a Future: Symbol (55) , SecurityType (167) , and MaturityMonthYear (200) are required. If an Option: Symbol (55) , SecurityType (167) , MaturityMonthYear (200) , PutOrCall (201) , and StrikePrice (202) are required.
200 MaturityMonthYear MonthYear C For Options or Futures to specify the month and year of maturity.
205 MaturityDay Day N For Options or Futures and can be used in conjunction with MaturityMonthYear (200) to specify a particular maturity date.
201 PutOrCall PutCall C For Options.
202 StrikePrice StrikePx C For Options.
206 OptAttribute OptAttribute N For Options.
207 SecurityExchange SecurityExch N Can be used to identify the security.
106 Issuer Issuer N
107 SecurityDesc SecurityDesc N
140 PrevClosePx PrevClosePx N Useful for verifying security identification
54 Side Side Y
114 LocateReqd LocateReq C Required for short sell orders
38 OrderQty OrderQty C Either CashOrderQty (152) or OrderQty (38) is required.
152 CashOrderQty CashOrderQty C Either CashOrderQty (152) or OrderQty (38) is required. Specifies the approximate "dollar quantity" for the order. Broker is responsible for converting and calculating OrderQty (38) in shares for subsequent messages.
40 OrdType OrderType Y
44 Price Price C Required for limit OrdTypes. For F/X orders, should be the "all-in" rate (spot rate adjusted for forward points). Can be used to specify a limit price for a pegged order, previously indicated, etc.
99 StopPx StopPx C Required for OrdType (40) = "Stop" or OrdType (40) = "Stop limit".
15 Currency Currency N Message without currency field is interpreted as US dollars
23 IOIid IOI_ID C Required for Previously Indicated Orders ( OrdType (40) =E)
117 QuoteID QuoteID C Required for Previously Quoted Orders ( OrdType (40) =D)
59 TimeInForce OrderDuration N Absence of this field indicates Day order
126 ExpireTime ExpireTime C Required if TimeInForce (59) = GTD
12 Commission CommAmt N
13 CommType CommType N
47 Rule80A Rule80A N
121 ForexReq ForexReqOrder N Indicates that broker is requested to execute a Forex accommodation trade in conjunction with the security trade.
120 SettlCurrency SettCurrency C Required if ForexReq (121) = Y.
58 Text Text N
193 FutSettDate2 FutSettDate2 N Can be used with OrdType (40) = "Forex - Swap" to specify the "value date" for the future portion of a F/X swap.
192 OrderQty2 OrderQty2 N Can be used with OrdType (40) = "Forex - Swap" to specify the order quantity for the future portion of a F/X swap.
77 OpenClose OpenClose N For options
203 CoveredOrUncovered Cover N For options
204 CustomerOrFirm CustomerFirm N For options when delivering the order to execution system/exchange.
210 MaxShow MaxShow N
211 PegDifference PegDifference N
<Standard Message Trailer> Y

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