Differences

This shows you the differences between two versions of the page.

--- developers:fixapi:stoporder [2025/09/12 01:50] – removed - external edit (Unknown date) 127.0.0.1
+++ developers:fixapi:stoporder [2025/09/12 01:51] (current) – ↷ Page moved and renamed from developers:fixapi.stoporder to developers:fixapi:stoporder chad
@@ Line 1: / Line 1: @@
+===== Stop Order =====
+A **Stop Order** is entered with the ''New Order Single'' (Tag 35=D) message.
+Following are the most relevant tags to build a Stop Order.
+^ Tag  ^ Name               ^ Description  ^
+| 40=3 | OrdType            | Specifier of Stop Order Type |
+| 99   | StopPx             | Stop Price |
+| 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 |
+| 167  | SecurityType       | Security Type (e.g., Futures) of this specific market |
+==== Sample ====
+In this example, the stop order is triggered when a trade occurs at the (''StopPx'' – Tag 99) price of **149975** or higher.
+Then, the order is changed into a **Market order**.
+Please note that exchanges generally place limits on market orders, which effectively makes a market order a limit order with a 10 or 20 tick price limit on it.
+Hence, you are **not guaranteed a fill** with a market order in a fast-moving market.
+Check with the exchange you are trading on to determine their current limits.
+----
+=== FIX Message Example ===
+**Stop Order**
+<code>
+>> 2/21/2013 5:34:45 PM [FIXNEWORDER] 34=104|49=T4Example|56=T4|50=TraderName|52=20130221-23:34:45.539|1=Account1|11=fn-634970648855398608|48=CME_20130300_ESH3|55=ES|207=CME_Eq|54=1|38=1|40=3|99=149975|59=0|167=FUT|21=1|60=20130221-23:34:45.539|204=0|
+[FIXNEWORDER]
+[MsgSeqNum] 34 = 104
+[SenderCompID] 49 = T4Example
+[TargetCompID] 56 = T4
+[SenderSubID] 50 = TraderName
+[SendingTime] 52 = 20130221-23:34:45.539
+[Account] 1 = Account1
+[ClOrdID] 11 = fn-634970648855398608
+[SecurityID] 48 = CME_20130300_ESH3
+[Symbol] 55 = ES
+[SecurityExchange] 207 = CME_Eq
+[Side] 54 = 1 (BUY)
+[OrderQty] 38 = 1
+[OrdType] 40 = 3 (STOP)
+[StopPx] 99 = 149975
+[TimeInForce] 59 = 0 (DAY)
+[SecurityType] 167 = FUT (FUTURE)
+[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
+[TransactTime] 60 = 20130221-23:34:45.539
+[CustomerOrFirm] 204 = 0 (CUSTOMER)
+</code>
+<code>
+<< 2/21/2013 5:34:45 PM  [fixexecutionreport] 34=150|49=T4|56=T4Example|50=T4FIX|52=20130221-23:34:45.586|143=US,IL|1=Account1|11=fn-634970648855398608|17=48010.6417471763_ESH3.6349706488670600006.1.AFAF4C13|150=0|37=AFAF4C13-937A-4F96-B903-2507BBC70B6E|39=0|48=CME_20130300_ESH3|55=ES|207=CME_Eq|200=201303|59=0|107=E-mini S&P 500 Mar13|54=1|167=FUT|38=1|40=3|99=149975|60=20130221-23:34:46.706|21=1|204=0|
+[FIXEXECUTIONREPORT]
+[MsgSeqNum] 34 = 150
+[SenderCompID] 49 = T4
+[TargetCompID] 56 = T4Example
+[SenderSubID] 50 = T4FIX
+[SendingTime] 52 = 20130221-23:34:45.586
+[TargetLocationID] 143 = US,IL
+[Account] 1 = Account1
+[ClOrdID] 11 = fn-634970648855398608
+[ExecID] 17 = 48010.6417471763_ESH3.6349706488670600006.1.AFAF4C13
+[ExecType] 150 = 0 (NEW)
+[OrderID] 37 = AFAF4C13-937A-4F96-B903-2507BBC70B6E
+[OrdStatus] 39 = 0 (NEW)
+[SecurityID] 48 = CME_20130300_ESH3
+[Symbol] 55 = ES
+[SecurityExchange] 207 = CME_Eq
+[MaturityMonthYear] 200 = 201303
+[TimeInForce] 59 = 0 (DAY)
+[SecurityDesc] 107 = E-mini S&P 500 Mar13
+[Side] 54 = 1 (BUY)
+[SecurityType] 167 = FUT (FUTURE)
+[OrderQty] 38 = 1
+[OrdType] 40 = 3 (STOP)
+[StopPx] 99 = 149975
+[TransactTime] 60 = 20130221-23:34:46.706
+[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
+[CustomerOrFirm] 204 = 0 (CUSTOMER)
+</code>
+Further details on the tags used for this order type are described in the dictionary of the New Order Single message.
+[[developers:legacy_fix_api|T4 FIX API Home]]