Notes:
� The forex Symbol is defined in "EBS" (Electronic Banking System) format: "CCY1/CCY2".
� Rates are expressed as "currency1 in currency2" (or "currency2 per currency1") and are calculated as CCY2 divided by CCY1 (NOT CCY1 divided by CCY2)
� (e.g. "GBP/USD" represents a rate expressed as USD per GBP, "USD/JPY" represents a rate expressed as JPY per USD, etc.).
� CCY1 and CCY2 are ISO currency codes
� OrderQty represents the amount expressed in units of currency specified by the Currency field. Note OrderQty must be capable of representing large values with at least 2 decimal places.
� The value of the Currency field represents the denomination of the quantity field(s).
� The Rate (specified as a �Price� field) represents CCY2 divided by CCY1 (NOT CCY1 divided by CCY2)
� The �unknown quantity� can be calculated using the following rules:
� If Currency field value = CCY1 then as: (OrderQty * Rate)
� If Currency field value = CCY2 then as: (OrderQty / Rate)
|
Verbal representation |
Side |
OrderQty
|
Currency |
Symbol (CCY1/CCY2) |
Rate |
Rate "Style" |
"Resulting" Quantity |
|
Sell 1,000,000 USD for JPY |
Sell |
1,000,000 |
USD |
USD/JPY |
105.92 |
Normal |
105,920,000 |
|
JPY/USD |
0.009441088 |
Inverted |
|||||
|
Sell 50,000,000 JPY for USD |
Sell |
50,000,000 |
JPY |
USD/JPY |
105.92 |
Normal |
472,054.38 |
|
JPY/USD |
0.009441088 |
Inverted |
|||||
|
Buy 50,000,000 JPY for USD |
Buy |
50,000,000 |
JPY |
USD/JPY |
105.92 |
Normal |
472,054.38 |
|
JPY/USD |
0.009441088 |
Inverted |
|||||
|
Buy 1,000,000 USD for JPY |
Buy |
1,000,000 |
USD |
USD/JPY |
105.92 |
Normal |
105,920,000 |
|
JPY/USD |
0.009441088 |
Inverted |
|||||
|
|
|||||||
|
Sell 1,000,000 USD for CAD |
Sell |
1,000,000 |
USD |
USD/CAD |
1.437 |
Normal |
1,437,000.00 |
|
CAD/USD |
0.695894224 |
Inverted |
|||||
|
Sell 50,000,000 CAD for USD |
Sell |
50,000,000 |
CAD |
USD/CAD |
1.437 |
Normal |
34,794,711.20 |
|
CAD/USD |
0.695894224 |
Inverted |
|||||
|
Buy 50,000,000 CAD for USD |
Buy |
50,000,000 |
CAD |
USD/CAD |
1.437 |
Normal |
34,794,711.20 |
|
CAD/USD |
0.695894224 |
Inverted |
|||||
|
Buy 1,000,000 USD for CAD |
Buy |
1,000,000 |
USD |
USD/CAD |
1.437 |
Normal |
1,437,000.00 |
|
CAD/USD |
0.695894224 |
Inverted |
|||||
|
|
|||||||
|
Sell 1,000,000 USD for GBP |
Sell |
1,000,000 |
USD |
GBP/USD |
1.6368 |
Normal |
610,948.19 |
|
USD/GBP |
0.610948192 |
Inverted |
|||||
|
Sell 50,000,000 GBP for USD |
Sell |
50,000,000 |
GBP |
GBP/USD |
1.6368 |
Normal |
81,840,000.00 |
|
USD/GBP |
0.610948192 |
Inverted |
|||||
|
Buy 50,000,000 GBP for USD |
Buy |
50,000,000 |
GBP |
GBP/USD |
1.6368 |
Normal |
81,840,000.00 |
|
USD/GBP |
0.610948192 |
Inverted |
|||||
|
Buy 1,000,000 USD for GBP |
Buy |
1,000,000 |
USD |
GBP/USD |
1.6368 |
Normal |
610,948.19 |
|
USD/GBP |
0.610948192 |
Inverted |
|||||
|
|
|||||||
|
Sell 1,000,000 USD for EUR |
Sell |
1,000,000 |
USD |
EUR/USD |
1.001 |
Normal |
999,001.00 |
|
USD/EUR |
0.999000999 |
Inverted |
|||||
|
Sell 50,000,000 EUR for USD |
Sell |
50,000,000 |
EUR |
EUR/USD |
1.001 |
Normal |
50,050,000.00 |
|
USD/EUR |
0.999000999 |
Inverted |
|||||
|
Buy 50,000,000 EUR for USD |
Buy |
50,000,000 |
EUR |
EUR/USD |
1.001 |
Normal |
50,050,000.00 |
|
USD/EUR |
0.999000999 |
Inverted |
|||||
|
Buy 1,000,000 USD for EUR |
Buy |
1,000,000 |
USD |
EUR/USD |
1.001 |
Normal |
999,001.00 |
|
USD/EUR |
0.999000999 |
Inverted |
|||||
|
|
|||||||
|
Sell 1,000,000 EUR for GBP |
Sell |
1,000,000 |
EUR |
EUR/GBP |
.6111 |
Normal |
611,100.00 |
|
GBP/EUR |
1.636393389 |
Inverted |
|||||
|
Sell 50,000,000 GBP for EUR |
Sell |
50,000,000 |
GBP |
EUR/GBP |
.6111 |
Normal |
81,819,669.45 |
|
GBP/EUR |
1.636393389 |
Inverted |
|||||
|
Buy 50,000,000 GBP for EUR |
Buy |
50,000,000 |
GBP |
EUR/GBP |
.6111 |
Normal |
81,819,669.45 |
|
GBP/EUR |
1.636393389 |
Inverted |
|||||
|
Buy 1,000,000 EUR for GBP |
Buy |
1,000,000 |
EUR |
EUR/GBP |
.6111 |
Normal |
611,100.00 |
|
GBP/EUR |
1.636393389 |
Inverted |
|||||
|
|
|||||||
|
Sell 1,000,000 EUR for CHF |
Sell |
1,000,000 |
EUR |
EUR/CHF |
1.6125 |
Normal |
1,612,500.00 |
|
CHF/EUR |
0.620155039 |
Inverted |
|||||
|
Sell 50,000,000 CHF for EUR |
Sell |
50,000,000 |
CHF |
EUR/CHF |
1.6125 |
Normal |
31,007,751.94 |
|
CHF/EUR |
0.620155039 |
Inverted |
|||||
|
Buy 50,000,000 CHF for EUR |
Buy |
50,000,000 |
CHF |
EUR/CHF |
1.6125 |
Normal |
31,007,751.94 |
|
CHF/EUR |
0.620155039 |
Inverted |
|||||
|
Buy 1,000,000 EUR for CHF |
Buy |
1,000,000 |
EUR |
EUR/CHF |
1.6125 |
Normal |
1,612,500.00 |
|
CHF/EUR |
0.620155039 |
Inverted |
|||||
|
|
|||||||
The following glossary is an attempt to identify business terms used in this document or related to implementing FIX globally. Requests for new terms and/or suggested definitions should be posted in the FIX Web Site�s Discussion section.
|
All or None |
A round-lot market or limit-price order that must be executed in its entirety or not at all; unlike Fill or Kill orders, AON orders are not treated as canceled if they are not executed as soon as represented in the Trading Crowd. [ExecInst] |
|
At the Opening |
A market or limit-price order to be executed at the opening of the stock or not at all; all or part of any order not executed at the opening is treated as canceled. [TimeInForce] |
|
Basis Price |
A price established by joint agreement of odd-lot dealers in 100-share-unit stocks when: - no round-lot has occurred during the trading session, - the spread between the closing bid and offer is two points or more, and - on odd-lot the dealer has been given a �basis-price� order. [OrdType] |
|
Buy Minus |
A round-lot market order to buy �minus� is an order to buy a stated amount of a stock provided that its price is: - not higher than the last sale if the last sale was a �minus� or �zero minus� tick and - not higher than the last sale minus the minimum fractional change in the stock if the last sale was a �plus� or �zero plus� tick. A limit price order to buy �minus� also states the highest price at which it can be executed. [Side] |
|
Day Order |
A buy or sell order that, if not executed expires at the end of the trading day on which it was entered. [TimeInForce] |
|
Do Not Increase |
A limit order to buy, a stop order to sell, or a stop-limit order to sell which is not to be increased in shares on the ex-dividend date as a result of a stock dividend or distribution. [ExecInst] |
|
Do Not Reduce |
A limit order to buy, a stop order to sell, or a stop-limit order to sell that is not to be reduced in price by the amount of an ordinary cash dividend on the ex-dividend date. A do-not-reduce order applies only to ordinary cash dividends; it should be reduced for other distributions - such as when a stock goes �ex� stock dividend or �ex� rights. [ExecInst] |
|
Fill or Kill |
A market or limit-price order that is to be executed in its entirety as soon as it is represented in the Trading Crowd; if not so executed, the order is to be canceled. Not to be confused with Immediate or Cancel. [TimeInForce] |
|
Good Till Canceled |
An order to buy or sell that remains in effect until it is either executed or canceled; sometimes called an �open order�. [TimeInForce] |
|
Good Till Executed |
An order to buy or sell that remains in effect until it is executed. |
|
Immediate or Cancel |
A market or limit-price order that is to be executed in whole or in part as soon as it is represented in the Trading Crowd; any portion not so executed is to be canceled. Not to be confused with Fill or Kill. [TimeInForce] |
|
Limit or Better |
Indicates an order to - buy a security at the indicated limit price or lower, or to - sell a security at the indicated limit price or higher. [OrdType] |
|
Limit With or Without |
An order to be executed at a limit price, with or without round-lot sales; valid only for odd lot orders. [OrdType] |
|
Market |
Indicates an order to buy or sell a stated amount of a security at the most advantageous price obtainable after the order is represented in the Trading Crowd. [OrdType] |
|
Market On Close |
A round-lot order to be executed at - or as near to as practical - the close of the market. [OrdType] |
|
Market Or Better |
Indicates an order to buy or sell a stated amount of a security at the quoted market or better. [OrdType] |
|
On Close |
An odd-lot order to buy or sell to be filled at the price of the closing round-lot offer - plus the differential, for a buy order, or - minus the differential, for a sell order, or A crossing session order to buy or sell at the closing price. [OrdType] |
|
Sell Plus |
A round-lot market order to sell �plus� is an order to sell a stated amount of a stock provided that its price is: - not lower than the last sale if the last sale was a �plus� or �zero plus� tick and - not lower than the last sale minus the minimum fractional change in the stock if the last sale was a �minus� or �zero minus� tick. A limit-price order to sell �plus� also states the lowest price at which it can be executed. [OrdType] |
|
Sell Short |
An order to sell a security that the seller does not own; a sale effected by delivering a security borrowed by, or for the account of, the seller. Can only be executed on a �plus� or �zero plus� tick. [OrdType] |
|
Sell Short Exempt |
Short sale exempt from short-sale rules. [OrdType] |
|
Stop |
A stop order to buy which becomes a market order when the security trades at - or above - the stop price after the order is represented in the Trading Crowd. A stop order to sell which becomes a market order when the security trades at - or below - the stop price after the order is represented in the Trading Crowd. [OrdType] |
|
Stop Limit |
A stop order to buy which becomes a limit order at the limit price when the security trades at - or above - the stop price after the order is represented in the Trading Crowd. A stop order to sell which becomes a limit order at the limit price when the security trades at - or below- the stop price after the order is represented in the Trading Crowd. [OrdType] |