OrdType

FIX Field 40

Tag	Name	Type	Enumerated	First introduced
40	OrdType	char	x	FIX.2.7

Order type. *** SOME VALUES ARE NO LONGER USED - See "Deprecated (Phased-out) Features and Supported Approach" *** (see Volume : "Glossary" for value definitions)

Enumerated Values

• 1 Market
• 2 Limit
• 3 Stop
• 4 StopLimit
• 5 MarketOnClose
• 6 WithOrWithout
• 7 LimitOrBetter
• 8 LimitWithOrWithout
• 9 OnBasis
• A OnClose
• B LimitOnClose
• C ForexMarket
• D PreviouslyQuoted
• E PreviouslyIndicated
• F ForexLimit
• G ForexSwap
• H ForexPreviouslyQuoted
• I Funari
• J MarketIfTouched
• K MarketWithLeftOverAsLimit
• L PreviousFundValuationPoint
• M NextFundValuationPoint
• P Pegged
• Q CounterOrderSelection

Notes

Three "on close" related values in the OrdType field were deprecated in FIX 4.3 by the combined use of a new TimeInForce value AtTheClose and OrdType values. These deprecated OrdType values were removed in FIX 4.4. This makes "on close" handling consistent with "on open" (as a TimeInForce vs. an OrdType). Note that CMS (e.g. used by NYSE) uses a TimeInForce for On Open (OPG) and an OrdType for On Close. FIX 4.3 implemented a consistent handling of the two vs. a continuation of following CMS-based semantics. See the individual deprecated "on close" values for their mappings: MarketOnClose, OnClose and LimitOnClose

Three Forex related values in the OrdType field were deprecated and replaced in FIX 4.3 by the combined use of specifying CURRENCY in the Product field and OrdType values. These deprecated OrdType values were removed in FIX 4.4. See the individual deprecated Forex values for their mappings: ForexMarket, ForexLimit and ForexPreviouslyQuoted

Error in FIX Specification:

The Glossary (Spec Volume 1) mentions an OrdType value of "Market or Better" but no such value appears to exist.