developers:fixapi:ocoorder

OCO (One Cancels Other) Order

An OCO (One Cancels Other) order consists of:

  • A buy limit order below the market and a buy stop order above the market, or
  • A sell limit order above the market and a sell stop order below the market.

When one order gets filled, the other is cancelled. If one is partially filled, the volume on the other is reduced accordingly.

An OCO Order is submitted with the New Order List (Tag 35=E) message. Following are the most relevant tags to build an OCO Order:

Tag Field Description
1385=1 ContingencyType Specifier of OCO order type
44 Price Price of Limit component. Must be below last traded price for Buys and above for Sells.
99 Stop Price Price of Stop component. Must be above last traded price for Buys and below for Sells.
48 SecurityID Market for which the order is sent
55 Symbol Contract for which the order is sent
207 SecurityExchange Exchange for which the order is sent

Additional Notes

  • OCO orders can also be GTC, StopLimit, or Trailing.
  • Activation is not supported with OCO orders.
  • The Limit component can be either:
  1. Limit Order (Tag 40=2)
  2. Market-if-Touched (Tag 40=J)
  • OCO orders are not intended for scenarios where both orders are placed very close together (e.g., consecutive prices or best bid/best offer). In active markets, both components may be filled.
  • All OCO components must be for the same account and same market.

Sample

In this example, a buy OCO order is submitted at:

  • Limit Component Price = 157850 (Tag 44 = 157850)
  • Stop Component Price = 157900 (Tag 99 = 157900)

The Stop component is filled, and the Limit component is subsequently cancelled.

OCO Order 

>> 4/26/2013 9:17:40 AM   [FIXNEWORDERLIST] 34=1871|49=T4Example|56=T4|50=Account1|52=20130426-14:17:40.583|66=fnl-635025646605836934|1385=1|433=1|68=2|11=oco-1-635025646605836934|1=Account1|54=1|38=1|48=CME_20130600_ESM3|55=ES|207=CME_Eq|40=2|44=157850|59=0|21=2|60=20130426-14:17:40.583|11=oco-2-635025646605836934|1=Account1|54=1|38=1|48=CME_20130600_ESM3|55=ES|207=CME_Eq|40=3|99=157900|59=0|21=2|60=20130426-14:17:40.583|
[FIXNEWORDERLIST]
[MsgSeqNum] 34 = 1871
[SenderCompID] 49 = T4Example
[TargetCompID] 56 = T4
[SenderSubID] 50 = Account1
[SendingTime] 52 = 20130426-14:17:40.583
[ListID] 66 = fnl-635025646605836934
[ContingencyType] 1385 = 1 (OCO)
[ListExecInstType] 433 = 1 (IMMEDIATE)
[TotNoOrders] 68 = 2
[ClOrdID] 11 = oco-1-635025646605836934
[Account] 1 = Account1
[Side] 54 = 1 (BUY)
[OrderQty] 38 = 1
[SecurityID] 48 = CME_20130600_ESM3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[OrdType] 40 = 2 (LIMIT)
[Price] 44 = 157850
[TimeInForce] 59 = 0 (DAY)
[HandlInst] 21 = 2 (AUTOMATED_EXECUTION_ORDER_PUBLIC_BROKER_INTERVENTION_OK)
[TransactTime] 60 = 20130426-14:17:40.583
[ClOrdID] 11 = oco-2-635025646605836934
[Account] 1 = Account1
[Side] 54 = 1 (BUY)
[OrderQty] 38 = 1
[SecurityID] 48 = CME_20130600_ESM3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[OrdType] 40 = 3 (STOP)
[StopPx] 99 = 157900
[TimeInForce] 59 = 0 (DAY)
[HandlInst] 21 = 2 (AUTOMATED_EXECUTION_ORDER_PUBLIC_BROKER_INTERVENTION_OK)
[TransactTime] 60 = 20130426-14:17:40.583

OCO Order Response - Limit Component Working 

<< 4/26/2013 9:17:40 AM  [fixexecutionreport] 34=130733|49=T4|56=T4Example|50=T4FIX|52=20130426-14:17:40.677|143=US,IL|1=Account1|11=oco-1-635025646605836934|66=fnl-635025646605836934|17=48323.6446981231_ESM3.6350256466290500006.1.77A1CE19|150=0|37=77A1CE19-9041-4620-80AB-40BFABB45048|39=0|48=CME_20130600_ESM3|55=ES|207=CME_Eq|200=201306|59=0|107=E-mini S&P 500 Jun13|54=1|167=FUT|38=1|40=2|44=157850|60=20130426-14:17:42.905|21=1|204=0|1385=1|
[FIXEXECUTIONREPORT]
[MsgSeqNum] 34 = 130733
[SenderCompID] 49 = T4
[TargetCompID] 56 = T4Example
[SenderSubID] 50 = T4FIX
[SendingTime] 52 = 20130426-14:17:40.677
[TargetLocationID] 143 = US,IL
[Account] 1 = Account1
[ClOrdID] 11 = oco-1-635025646605836934
[ListID] 66 = fnl-635025646605836934
[ExecID] 17 = 48323.6446981231_ESM3.6350256466290500006.1.77A1CE19
[ExecType] 150 = 0 (NEW)
[OrderID] 37 = 77A1CE19-9041-4620-80AB-40BFABB45048
[OrdStatus] 39 = 0 (NEW)
[SecurityID] 48 = CME_20130600_ESM3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[MaturityMonthYear] 200 = 201306
[TimeInForce] 59 = 0 (DAY)
[SecurityDesc] 107 = E-mini S&P 500 Jun13
[Side] 54 = 1 (BUY)
[SecurityType] 167 = FUT (FUTURE)
[OrderQty] 38 = 1
[OrdType] 40 = 2 (LIMIT)
[Price] 44 = 157850
[TransactTime] 60 = 20130426-14:17:42.905
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[CustomerOrFirm] 204 = 0 (CUSTOMER)
[ContingencyType] 1385 = 1 (OCO)

OCO Order Response - Stop Component Working 

<< 4/26/2013 9:17:40 AM  [fixexecutionreport] 34=130735|49=T4|56=T4Example|50=T4FIX|52=20130426-14:17:40.880|143=US,IL|1=Account1|11=oco-2-635025646605836934|66=fnl-635025646605836934|17=48324.6446981232_ESM3.6350256466290900006.1.824FCFDB|150=0|37=824FCFDB-D4D3-4207-B4A9-2FF07C1FE813|39=0|48=CME_20130600_ESM3|55=ES|207=CME_Eq|200=201306|59=0|107=E-mini S&P 500 Jun13|54=1|167=FUT|38=1|40=3|99=157900|60=20130426-14:17:42.909|21=1|204=0|1385=1|
[FIXEXECUTIONREPORT]
[MsgSeqNum] 34 = 130735
[SenderCompID] 49 = T4
[TargetCompID] 56 = T4Example
[SenderSubID] 50 = T4FIX
[SendingTime] 52 = 20130426-14:17:40.880
[TargetLocationID] 143 = US,IL
[Account] 1 = Account1
[ClOrdID] 11 = oco-2-635025646605836934
[ListID] 66 = fnl-635025646605836934
[ExecID] 17 = 48324.6446981232_ESM3.6350256466290900006.1.824FCFDB
[ExecType] 150 = 0 (NEW)
[OrderID] 37 = 824FCFDB-D4D3-4207-B4A9-2FF07C1FE813
[OrdStatus] 39 = 0 (NEW)
[SecurityID] 48 = CME_20130600_ESM3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[MaturityMonthYear] 200 = 201306
[TimeInForce] 59 = 0 (DAY)
[SecurityDesc] 107 = E-mini S&P 500 Jun13
[Side] 54 = 1 (BUY)
[SecurityType] 167 = FUT (FUTURE)
[OrderQty] 38 = 1
[OrdType] 40 = 3 (STOP)
[StopPx] 99 = 157900
[TransactTime] 60 = 20130426-14:17:42.909
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[CustomerOrFirm] 204 = 0 (CUSTOMER)
[ContingencyType] 1385 = 1 (OCO)

OCO Order Response - Stop Component activated to Limit 

<< 4/26/2013 9:20:46 AM  [fixexecutionreport] 34=131009|49=T4|56=T4Example|50=T4FIX|52=20130426-14:20:46.286|143=US,IL|1=Account1|11=oco-2-635025646605836934|66=fnl-635025646605836934|17=48324.6446981232_ESM3.6350256484851300006.1.824FCFDB|150=0|37=824FCFDB-D4D3-4207-B4A9-2FF07C1FE813|39=0|48=CME_20130600_ESM3|55=ES|207=CME_Eq|200=201306|59=0|107=E-mini S&P 500 Jun13|54=1|167=FUT|38=1|40=2|44=158200|60=20130426-14:20:48.513|21=1|204=0|1385=1|
[FIXEXECUTIONREPORT]
[MsgSeqNum] 34 = 131009
[SenderCompID] 49 = T4
[TargetCompID] 56 = T4Example
[SenderSubID] 50 = T4FIX
[SendingTime] 52 = 20130426-14:20:46.286
[TargetLocationID] 143 = US,IL
[Account] 1 = Account1
[ClOrdID] 11 = oco-2-635025646605836934
[ListID] 66 = fnl-635025646605836934
[ExecID] 17 = 48324.6446981232_ESM3.6350256484851300006.1.824FCFDB
[ExecType] 150 = 0 (NEW)
[OrderID] 37 = 824FCFDB-D4D3-4207-B4A9-2FF07C1FE813
[OrdStatus] 39 = 0 (NEW)
[SecurityID] 48 = CME_20130600_ESM3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[MaturityMonthYear] 200 = 201306
[TimeInForce] 59 = 0 (DAY)
[SecurityDesc] 107 = E-mini S&P 500 Jun13
[Side] 54 = 1 (BUY)
[SecurityType] 167 = FUT (FUTURE)
[OrderQty] 38 = 1
[OrdType] 40 = 2 (LIMIT)
[Price] 44 = 158200
[TransactTime] 60 = 20130426-14:20:48.513
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[CustomerOrFirm] 204 = 0 (CUSTOMER)
[ContingencyType] 1385 = 1 (OCO)

OCO Order Response - Stop Component Filled 

<< 4/26/2013 9:20:46 AM  [fixexecutionreport] 34=131012|49=T4|56=T4Example|50=T4FIX|52=20130426-14:20:46.489|143=US,IL|1=Account1|11=oco-2-635025646605836934|66=fnl-635025646605836934|17=64229:5559243TN0374282.63502564848513000021.2.824FCFDB|150=F|37=824FCFDB-D4D3-4207-B4A9-2FF07C1FE813|39=2|48=CME_20130600_ESM3|55=ES|207=CME_Eq|200=201306|59=0|107=E-mini S&P 500 Jun13|54=1|167=FUT|38=1|40=2|44=158200|31=157900|32=1|14=1|151=0|60=20130426-14:20:48.626|21=1|204=0|337=TRADE|375=CME000A|1385=1|
[FIXEXECUTIONREPORT]
[MsgSeqNum] 34 = 131012
[SenderCompID] 49 = T4
[TargetCompID] 56 = T4Example
[SenderSubID] 50 = T4FIX
[SendingTime] 52 = 20130426-14:20:46.489
[TargetLocationID] 143 = US,IL
[Account] 1 = Account1
[ClOrdID] 11 = oco-2-635025646605836934
[ExecID] 17 = 64229:5559243TN0374282.63502564848513000021.2.824FCFDB
[ExecType] 150 = F
[OrderID] 37 = 824FCFDB-D4D3-4207-B4A9-2FF07C1FE813
[OrdStatus] 39 = 2 (FILLED)
[SecurityID] 48 = CME_20130600_ESM3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[MaturityMonthYear] 200 = 201306
[TimeInForce] 59 = 0 (DAY)
[SecurityDesc] 107 = E-mini S&P 500 Jun13
[Side] 54 = 1 (BUY)
[SecurityType] 167 = FUT (FUTURE)
[OrderQty] 38 = 1
[OrdType] 40 = 2 (LIMIT)
[Price] 44 = 158200
[LastPx] 31 = 157900
[LastShares] 32 = 1
[CumQty] 14 = 1
[LeavesQty] 151 = 0
[TransactTime] 60 = 20130426-14:20:48.626
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[CustomerOrFirm] 204 = 0 (CUSTOMER)
[ContraTrader] 337 = TRADE
[ContraBroker] 375 = CME000A
[ContingencyType] 1385 = 1 (OCO)

OCO Order Response - Limit Component pending cancel (Risk assessment success) 

<< 4/26/2013 9:20:46 AM  [fixexecutionreport] 34=131013|49=T4|56=T4Example|50=T4FIX|52=20130426-14:20:46.816|143=US,IL|1=Account1|11=oco-1-635025646605836934|66=fnl-635025646605836934|17=48323.6446981231_ESM3.63502564662905000014.1.77A1CE19|150=6|37=77A1CE19-9041-4620-80AB-40BFABB45048|39=6|48=CME_20130600_ESM3|55=ES|207=CME_Eq|200=201306|59=0|107=E-mini S&P 500 Jun13|54=1|167=FUT|38=0|40=2|44=157850|58=OCO Pull: PullRiskSuccess. Pull passed risk management|60=20130426-14:17:42.783|21=1|204=0|1385=1|
[FIXEXECUTIONREPORT]
[MsgSeqNum] 34 = 131013
[SenderCompID] 49 = T4
[TargetCompID] 56 = T4Example
[SenderSubID] 50 = T4FIX
[SendingTime] 52 = 20130426-14:20:46.816
[TargetLocationID] 143 = US,IL
[Account] 1 = Account1
[ClOrdID] 11 = oco-1-635025646605836934
[ListID] 66 = fnl-635025646605836934
[ExecID] 17 = 48323.6446981231_ESM3.63502564662905000014.1.77A1CE19
[ExecType] 150 = 6 (PENDING_CANCEL)
[OrderID] 37 = 77A1CE19-9041-4620-80AB-40BFABB45048
[OrdStatus] 39 = 6 (PENDING_CANCEL)
[SecurityID] 48 = CME_20130600_ESM3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[MaturityMonthYear] 200 = 201306
[TimeInForce] 59 = 0 (DAY)
[SecurityDesc] 107 = E-mini S&P 500 Jun13
[Side] 54 = 1 (BUY)
[SecurityType] 167 = FUT (FUTURE)
[OrderQty] 38 = 0
[OrdType] 40 = 2 (LIMIT)
[Price] 44 = 157850
[Text] 58 = OCO Pull: PullRiskSuccess. Pull passed risk management
[TransactTime] 60 = 20130426-14:17:42.783
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[CustomerOrFirm] 204 = 0 (CUSTOMER)
[ContingencyType] 1385 = 1 (OCO)

OCO Order Response - Limit Component pending cancel (submitted to exchange) 

<< 4/26/2013 9:20:46 AM  [fixexecutionreport] 34=131014|49=T4|56=T4Example|50=T4FIX|52=20130426-14:20:46.832|143=US,IL|1=Account1|11=oco-1-635025646605836934|66=fnl-635025646605836934|17=48325.6446981231_ESM3.63502564662905000016.1.77A1CE19|150=6|37=77A1CE19-9041-4620-80AB-40BFABB45048|39=6|48=CME_20130600_ESM3|55=ES|207=CME_Eq|200=201306|59=0|107=E-mini S&P 500 Jun13|54=1|167=FUT|38=0|40=2|44=157850|58=OCO Pull|60=20130426-14:17:42.905|21=1|204=0|1385=1|
[FIXEXECUTIONREPORT]
[MsgSeqNum] 34 = 131014
[SenderCompID] 49 = T4
[TargetCompID] 56 = T4Example
[SenderSubID] 50 = T4FIX
[SendingTime] 52 = 20130426-14:20:46.832
[TargetLocationID] 143 = US,IL
[Account] 1 = Account1
[ClOrdID] 11 = oco-1-635025646605836934
[ListID] 66 = fnl-635025646605836934
[ExecID] 17 = 48325.6446981231_ESM3.63502564662905000016.1.77A1CE19
[ExecType] 150 = 6 (PENDING_CANCEL)
[OrderID] 37 = 77A1CE19-9041-4620-80AB-40BFABB45048
[OrdStatus] 39 = 6 (PENDING_CANCEL)
[SecurityID] 48 = CME_20130600_ESM3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[MaturityMonthYear] 200 = 201306
[TimeInForce] 59 = 0 (DAY)
[SecurityDesc] 107 = E-mini S&P 500 Jun13
[Side] 54 = 1 (BUY)
[SecurityType] 167 = FUT (FUTURE)
[OrderQty] 38 = 0
[OrdType] 40 = 2 (LIMIT)
[Price] 44 = 157850
[Text] 58 = OCO Pull
[TransactTime] 60 = 20130426-14:17:42.905
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[CustomerOrFirm] 204 = 0 (CUSTOMER)
[ContingencyType] 1385 = 1 (OCO)

OCO Order Response - Limit Component Cancelled 

<< 4/26/2013 9:20:46 AM  [fixexecutionreport] 34=131015|49=T4|56=T4Example|50=T4FIX|52=20130426-14:20:46.848|143=US,IL|1=Account1|11=oco-1-635025646605836934|66=fnl-635025646605836934|17=48325.6446981231_ESM3.63502564849076000018.2.77A1CE19|150=4|37=77A1CE19-9041-4620-80AB-40BFABB45048|39=4|48=CME_20130600_ESM3|55=ES|207=CME_Eq|200=201306|59=0|107=E-mini S&P 500 Jun13|54=1|167=FUT|38=0|40=2|44=157850|60=20130426-14:20:49.076|21=1|204=0|1385=1|
[FIXEXECUTIONREPORT]
[MsgSeqNum] 34 = 131015
[SenderCompID] 49 = T4
[TargetCompID] 56 = T4Example
[SenderSubID] 50 = T4FIX
[SendingTime] 52 = 20130426-14:20:46.848
[TargetLocationID] 143 = US,IL
[Account] 1 = Account1
[ClOrdID] 11 = oco-1-635025646605836934
[ListID] 66 = fnl-635025646605836934
[ExecID] 17 = 48325.6446981231_ESM3.63502564849076000018.2.77A1CE19
[ExecType] 150 = 4 (CANCELED)
[OrderID] 37 = 77A1CE19-9041-4620-80AB-40BFABB45048
[OrdStatus] 39 = 4 (CANCELED)
[SecurityID] 48 = CME_20130600_ESM3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[MaturityMonthYear] 200 = 201306
[TimeInForce] 59 = 0 (DAY)
[SecurityDesc] 107 = E-mini S&P 500 Jun13
[Side] 54 = 1 (BUY)
[SecurityType] 167 = FUT (FUTURE)
[OrderQty] 38 = 0
[OrdType] 40 = 2 (LIMIT)
[Price] 44 = 157850
[TransactTime] 60 = 20130426-14:20:49.076
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[CustomerOrFirm] 204 = 0 (CUSTOMER)
[ContingencyType] 1385 = 1 (OCO)

Further details on the tags used for this order type are described in the dictionary of the New Order List message.

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  • developers/fixapi/ocoorder.txt
  • Last modified: 2025/09/12 01:50
  • by chad