Skip to content
FIXtags

FIX TAG 18

ExecInst

MultipleCharValueAdded FIX.2.7

Definition

Instructions for order handling on exchange trading floor. If more than one instruction is applicable to an order, this field can contain multiple instructions separated by space. (see Volume : "Glossary" for value definitions)

Original source wording
Instructions for order handling on exchange trading floor. If more than one instruction is applicable to an order, this field can contain multiple instructions separated by space. *** SOME VALUES HAVE BEEN REPLACED - See "Replaced Features and Supported Approach" *** (see Volume : "Glossary" for value definitions)
Compare versions

Differences between the selected source snapshots, including wording and errata; not a migration guide.

FIX 4.4 FIX 5.0 SP2

PropertyFIX 4.4FIX 5.0 SP2
TypeMultipleValueStringMultipleCharValue

Definition text changed

FIX 4.4

Instructions for order handling on exchange trading floor. If more than one instruction is applicable to an order, this field can contain multiple instructions separated by space.

FIX 5.0 SP2

Instructions for order handling on exchange trading floor. If more than one instruction is applicable to an order, this field can contain multiple instructions separated by space. *** SOME VALUES HAVE BEEN REPLACED - See "Replaced Features and Supported Approach" *** (see Volume : "Glossary" for value definitions)

Values only in FIX 5.0 SP2 16

  • TFixed Peg to Local best bid or offer at time of orderDeprecated FIX.5.0
  • fIntermarket Sweep
  • gExternal Routing Allowed
  • hExternal Routing Not Allowed
  • iImbalance Only
  • jSingle execution requested for block trade
  • kBest Execution
  • lSuspend on system failure (mutually exclusive with H and Q)
  • mSuspend on Trading Halt (mutually exclusive with J and K)
  • nReinstate on connection loss (mutually exclusive with o and p)
  • oCancel on connection loss (mutually exclusive with n and p)
  • pSuspend on connection loss (mutually exclusive with n and o)
  • qRelease from suspension (mutually exclusive with S)
  • rExecute as delta neutral using volatility provided
  • sExecute as duration neutral
  • tExecute as FX neutral

Value text or deprecation changed 19

ValueFIX 4.4FIX 5.0 SP2
0Stay on offersideStay on offer side
9Stay on bidsideStay on bid side
DPercent of volume "(indicates that the sender does not want to be all the volume on the floor vs. a specific percentage)"Percent of volume (indicates that the sender does not want to be all of the volume on the floor vs. a specific percentage)
HReinstate on System Failure (mutually exclusive with Q)Reinstate on system failure (mutually exclusive with Q and l)
JReinstate on Trading Halt (mutually exclusive with K)Reinstate on Trading Halt (mutually exclusive with K and m)
KCancel on Trading Halt (mutually exclusive with L)Cancel on Trading Halt (mutually exclusive with J and m)
LLast peg (last sale)Last peg (last sale)Deprecated FIX.5.0
MMid-price peg (midprice of inside quote)Mid-price peg (midprice of inside quote)Deprecated FIX.5.0
OOpening pegOpening pegDeprecated FIX.5.0
PMarket pegMarket pegDeprecated FIX.5.0
QCancel on System Failure (mutually exclusive with H)Cancel on system failure (mutually exclusive with H and l)
RPrimary peg (primary market - buy at bid/sell at offer)Primary peg (primary market - buy at bid/sell at offer)Deprecated FIX.5.0
UCustomer Display Instruction (Rule11Ac1-1/4)Customer Display Instruction (Rule 11Ac1-1/4)
WPeg to VWAPPeg to VWAPDeprecated FIX.5.0
YTry to StopTry To Stop
ZCancel if Not BestCancel if not best
aTrailing Stop PegTrailing Stop PegDeprecated FIX.5.0
bStrict Limit (No Price Improvement)Strict Limit (No price improvement)
dPeg to Limit PricePeg to Limit PriceDeprecated FIX.5.0

Values 56

ValueMeaning
0

Stay on offer side

1

Not held

2

Work

3

Go along

4

Over the day

5

Held

6

Participate don't initiate

7

Strict scale

8

Try to scale

9

Stay on bid side

A

No cross (cross is forbidden)

B

OK to cross

C

Call first

D

Percent of volume (indicates that the sender does not want to be all of the volume on the floor vs. a specific percentage)

E

Do not increase - DNI

F

Do not reduce - DNR

G

All or none - AON

H

Reinstate on system failure (mutually exclusive with Q and l)

I

Institutions only

J

Reinstate on Trading Halt (mutually exclusive with K and m)

K

Cancel on Trading Halt (mutually exclusive with J and m)

L

Last peg (last sale)

Deprecated FIX.5.0
M

Mid-price peg (midprice of inside quote)

Deprecated FIX.5.0
N

Non-negotiable

O

Opening peg

Deprecated FIX.5.0
P

Market peg

Deprecated FIX.5.0
Q

Cancel on system failure (mutually exclusive with H and l)

R

Primary peg (primary market - buy at bid/sell at offer)

Deprecated FIX.5.0
S

Suspend

T

Fixed Peg to Local best bid or offer at time of order

Deprecated FIX.5.0
U

Customer Display Instruction (Rule 11Ac1-1/4)

V

Netting (for Forex)

W

Peg to VWAP

Deprecated FIX.5.0
X

Trade Along

Y

Try To Stop

Z

Cancel if not best

a

Trailing Stop Peg

Deprecated FIX.5.0
b

Strict Limit (No price improvement)

c

Ignore Price Validity Checks

d

Peg to Limit Price

Deprecated FIX.5.0
e

Work to Target Strategy

f

Intermarket Sweep

g

External Routing Allowed

h

External Routing Not Allowed

i

Imbalance Only

j

Single execution requested for block trade

k

Best Execution

l

Suspend on system failure (mutually exclusive with H and Q)

m

Suspend on Trading Halt (mutually exclusive with J and K)

n

Reinstate on connection loss (mutually exclusive with o and p)

o

Cancel on connection loss (mutually exclusive with n and p)

p

Suspend on connection loss (mutually exclusive with n and o)

q

Release from suspension (mutually exclusive with S)

r

Execute as delta neutral using volatility provided

s

Execute as duration neutral

t

Execute as FX neutral

About the MultipleCharValue data type

string field containing one or more space delimited single character values (e.g. |18=2 A F| ).

Used in messages 12

Includes nested components and repeating groups. Open a location to see its surrounding requirements.