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NewOrderList (MsgType = E, FIXML = NewOrdList)

The NewOrderList Message can be used in one of two ways depending on which market conventions are being followed.

In the "Non disclosed" convention the New Order - List (E) message is sent after the bidding process has been completed, by telephone or electronically. The New Order - List (E) message enumerates the stocks, quantities, direction for the trade and may contain pre-allocation information.

This message may also be used as the first message for the transmission of a program trade where the bidding process has been done by means other than FIX. In this scenario the messages may either be used as a staging process, in which case the broker will start execution once either a ListExecute is received or for immediate execution, in which case the orders will be executed on receipt.

In the "Disclosed" convention the New Order - List (E) message is sent before the bidding process is started, by telephone or electronically. The New Order - List (E) message enumerates the stocks and quantities from the bidding process, and may contain pre-allocation information. The direction of the trade is disclosed after the bidding process is completed.

Where multiple waves of a program trade are submitted by an institution or retail intermediaries, as a series of separate lists, to a broker ClOrdLinkID (583) may be used to link the orders together.

See "Program/Basket/List Trading"for examples.

The New OrderList message type may also be used by institutions or retail intermediaries wishing to electronically submit multiple Collective Investment Vehicle orders to a broker or fund manager for execution.

See VOLUME 7 - "PRODUCT: COLLECTIVE INVESTMENT VEHICLES"

Tag Field Name FIXML Req'd Comments
<Standard Message Header> Y MsgType = E
66 ListID @ListID Y Indicates whether this is the last fragment in a sequence of message fragments. Only required where message has been fragmented.
390 BidID @BidID N

Should refer to an earlier program if bidding took place.
391 ClientBidID @ClBidID N

Unique identifier for a Bid Request as assigned by institution. Uniqueness must be guaranteed within a single trading day.
414 ProgRptReqs @ProgRptReqs N

Code to identify the desired frequency of progress reports.
394 BidType @BidTyp Y

e.g. Non Disclosed Model, Disclosed Model, No Bidding Process
415 ProgPeriodInterval @ProgPeriodIntvl N

Time in minutes between each ListStatus report sent by SellSide. Zero means don't send status.
480 CancellationRights @CxllationRights N

For CIV - Optional
481 MoneyLaunderingStatus @MnyLaunderingStat N

A one character code identifying Money laundering status.
513 RegistID @RegistID N

Reference to Registration Instructions message applicable to all Orders in this List.
433 ListExecInstType @ListExecInstTyp N

Controls when execution should begin For CIV Orders indicates order of execution.
69 ListExecInst @ListExecInst N

Free-form text.
1385 ContingencyType @ContingencyType N

Used for contingency orders.
352 EncodedListExecInstLen @EncListExecInstLen C

Must be set if EncodedListExecInst field is specified and must immediately precede it.
353 EncodedListExecInst @EncListExecInst C

Encoded (non-ASCII characters) representation of the ListExecInst field in the encoded format specified via the MessageEncoding field.

765 AllowableOneSidednessPct @AOSPct N

The maximum percentage that execution of one side of a program trade can exceed execution of the other.
766 AllowableOneSidednessValue @AOSValu N

The maximum amount that execution of one side of a program trade can exceed execution of the other.
767 AllowableOneSidednessCurr @AOSCurr N

The currency that AllowableOneSidedness is expressed in if AllowableOneSidednessValue is used.
2401 ListManualOrderIndicator @ListManOrdInd N

Indicates if the list of orders was initially received manually (as opposed to electronically) or if it was entered manually (as opposed to entered by automated trading software).

68 TotNoOrders @TotNoOrds Y

Used to support fragmentation. Sum of NoOrders across all messages with the same ListID.
893 LastFragment @LastFragment N

Indicates whether this is the last fragment in a sequence of message fragments. Only required where message has been fragmented.
<RootParties> N Number of orders in this message (number of repeating groups to follow)
<ListOrdGrp> Y

Number of orders in this message (number of repeating groups to follow)
1685 ThrottleInst @ThrttlInst N

Describes action recipient should take if a throttle limit were exceeded.
<Standard Message Trailer> Y

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