The New Order - List (E) 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 Volume 4: "Program/Basket/List Trading" of FIX specification for examples.
The New Order - List (E) 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" of FIX specification
| Tag | Field Name | Req'd | Comments | ||
|---|---|---|---|---|---|
| <Standard Message Header> | Y | MsgType = E |
|||
| 66 | ListID | Y | Must be unique, by customer, for the day |
||
| 390 | BidID | N | Should refer to an earlier program if bidding took place. |
||
| 391 | ClientBidID | N | |||
| 414 | ProgRptReqs | N | |||
| 394 | BidType | Y | e.g. Non Disclosed Model, Disclosed Model, No Bidding Process |
||
| 415 | ProgPeriodInterval | N | |||
| 480 | CancellationRights | N | For CIV - Optional |
||
| 481 | MoneyLaunderingStatus | N | |||
| 513 | RegistID | N | Reference to Registration Instructions (o) message
applicable to all Orders in this List. |
||
| 433 | ListExecInstType | N | Controls when execution should begin. For CIV Orders indicates order of execution. |
||
| 69 | ListExecInst | N | Free-form text. |
||
| 352 | EncodedListExecInstLen | C | Must be set if EncodedListExecInst (353) field is specified
and must immediately precede it. |
||
| 353 | EncodedListExecInst | C | Encoded (non-ASCII characters) representation of the ListExecInst (69) field in the encoded format specified via the MessageEncoding (347) field. |
||
| 765 | AllowableOneSidednessPct | N | The maximum percentage that execution of one side of a program trade can exceed
execution of the other. |
||
| 766 | AllowableOneSidednessValue | N | The maximum amount that execution of one side of a program trade can exceed
execution of the other. |
||
| 767 | AllowableOneSidednessCurr | N | The currency that AllowableOneSidedness is expressed in if AllowableOneSidednessValue (766) is used. |
||
| 68 | TotNoOrders | Y | Used to support fragmentation. Sum of NoOrders (73) across
all messages with the same ListID (66) . |
||
| 893 | LastFragment | N | Indicates if this message is the last of a fragmented set of messages |
||
| 73 | NoOrders | Y | Number of orders in this message (number of repeating groups to follow) |
||
| => | 11 | ClOrdID | Y | Must be the first field in the repeating group. |
|
| => | 526 | SecondaryClOrdID | N | ||
| => | 67 | ListSeqNo | Y | Order number within the list |
|
| => | 583 | ClOrdLinkID | N | ||
| => | 160 | SettlInstMode | N | ||
| => | Component Block - <Parties> | N | |||
| => | 229 | TradeOriginationDate | N | ||
| => | 75 | TradeDate | N | ||
| => | 1 | Account | N | ||
| => | 660 | AcctIDSource | N | ||
| => | 581 | AccountType | N | ||
| => | 589 | DayBookingInst | N | ||
| => | 590 | BookingUnit | N | ||
| => | 70 | AllocID | N | Use to assign an ID to the block of individual preallocations |
|
| => | 591 | PreallocMethod | N | ||
| => | 78 | NoAllocs | N | Indicates number of pre-trade allocation accounts to follow |
|
| => | => | 79 | AllocAccount | C | Required if NoAllocs (78) > 0. Must be the first
field in the repeating group. |
| => | => | 661 | AllocAcctIDSource | N | |
| => | => | 736 | AllocSettlCurrency | N | |
| => | => | 467 | IndividualAllocID | N | |
| => | => | Component Block - <NestedParties> | N | ||
| => | => | 80 | AllocQty | N | |
| => | 63 | SettlType | N | ||
| => | 64 | SettlDate | C | Takes precedence over SettlType (63) value and
conditionally required/omitted for specific SettlType (63) values. |
|
| => | 544 | CashMargin | N | ||
| => | 635 | ClearingFeeIndicator | N | ||
| => | 21 | HandlInst | N | ||
| => | 18 | ExecInst | N | Can contain multiple instructions, space delimited. If OrdType (40) =P, exactly one of the following values ( ExecInst (18) = L, R, M, P, O, T, or W) must be specified. |
|
| => | 110 | MinQty | N | ||
| => | 111 | MaxFloor | N | ||
| => | 100 | ExDestination | N | ||
| => | 386 | NoTradingSessions | N | ||
| => | => | 336 | TradingSessionID | C | First field in repeating group. Required if NoTradingSessions (386) > 0. |
| => | => | 625 | TradingSessionSubID | N | |
| => | 81 | ProcessCode | N | ||
| => | Component Block - <Instrument> | Y | |||
| => | 711 | NoUnderlyings | N | Number of underlyings |
|
| => | => | Component Block - <UnderlyingInstrument> | C | Must be provided if Number of underlyings > 0 |
|
| => | 140 | PrevClosePx | N | Useful for verifying security identification |
|
| => | 54 | Side | Y | Note: to indicate the side of SideValue1 (396) or SideValue2 (397) , specify Side (54) =Undisclosed
and SideValueInd (401) =either the SideValue1 (396) or SideValue2 (397) indicator. |
|
| => | 401 | SideValueInd | N | Refers to the SideValue1 (396) or SideValue2 (397) . These are used as opposed to Buy or Sell so that the
basket can be quoted either way as Buy or Sell. |
|
| => | 114 | LocateReqd | C | ||
| => | 60 | TransactTime | N | ||
| => | Component Block - <Stipulations> | N | |||
| => | 854 | QtyType | N | ||
| => | Component Block - <OrderQtyData> | Y | |||
| => | 40 | OrdType | N | ||
| => | 423 | PriceType | N | ||
| => | 44 | Price | N | ||
| => | 99 | StopPx | N | ||
| => | Component Block - <SpreadOrBenchmarkCurveData> | N | |||
| => | Component Block - <YieldData> | N | |||
| => | 15 | Currency | N | ||
| => | 376 | ComplianceID | N | ||
| => | 377 | SolicitedFlag | N | ||
| => | 23 | IOIid | N | Required for Previously Indicated Orders ( OrdType (40) =E) |
|
| => | 117 | QuoteID | N | Required for Previously Quoted Orders ( OrdType (40) =D) |
|
| => | 59 | TimeInForce | N | ||
| => | 168 | EffectiveTime | N | ||
| => | 432 | ExpireDate | N | Conditionally required if TimeInForce (59) = GTD
and ExpireTime (126) is not specified. |
|
| => | 126 | ExpireTime | N | Conditionally required if TimeInForce (59) = GTD
and ExpireDate (432) is not specified. |
|
| => | 427 | GTBookingInst | N | States whether executions are booked out or accumulated on a partially filled GT order. |
|
| => | Component Block - <CommissionData> | N | |||
| => | 528 | OrderCapacity | N | ||
| => | 529 | OrderRestrictions | N | ||
| => | 582 | CustOrderCapacity | N | ||
| => | 121 | ForexReq | N | ||
| => | 120 | SettlCurrency | N | ||
| => | 775 | BookingType | N | Method for booking out this order. Used when notifying a broker that an order to
be settled by that broker is to be booked out as an OTC derivative (e.g. CFD or
similar). Absence of this field implies regular booking. |
|
| => | 58 | Text | N | ||
| => | 354 | EncodedTextLen | C | Must be set if EncodedText (355) field is specified and
must immediately precede it. |
|
| => | 355 | EncodedText | C | Encoded (non-ASCII characters) representation of the Text (58) field in the encoded format specified via the MessageEncoding (347) field. |
|
| => | 193 | SettDate2 | 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 | N | Can be used with OrdType (40) = "Forex - Swap" to specify
the order quantity for the future portion of a F/X swap. |
|
| => | 640 | Price2 | N | Can be used with OrdType (40) = "Forex - Swap" to specify
the price for the future portion of a F/X swap which is also a limit order. For F/X
orders, should be the "all-in" rate (spot rate adjusted for forward points). |
|
| => | 77 | PositionEffect | N | ||
| => | 203 | CoveredOrUncovered | N | ||
| => | 210 | MaxShow | N | ||
| => | Component Block - <PegInstructions> | N | |||
| => | Component Block - <DiscretionInstructions> | N | |||
| => | 847 | TargetStrategy | N | The target strategy of the order |
|
| => | 848 | TargetStrategyParameters | N | For further specification of the TargetStrategy (847)
|
|
| => | 849 | ParticipationRate | N | Mandatory for a TargetStrategy (847) =Participate order
and specifies the target particpation rate. For other order types optionally specifies a
volume limit (i.e. do not be more than this percent of the market volume) |
|
| => | 494 | Designation | N | Supplementary registration information for this Order within the List |
|
| <Standard Message Trailer> | Y | ||||