===== On Price Activation Order =====

**On Price Activation Orders** will be held (i.e. suspended) in the **T4 FIX API** server until the market trades at or below, or at or above, the activation price (as entered with the **Activation Value** - Tag 10103).  
At this activation point, the order is released to the exchange.

An Activation Order is entered with the **New Order Single** (Tag 35=D) message.  
Following are the most relevant tags to build an On Price Activation Order:

^ Tag ^ Field ^ Description ^
| 10102=3 (or 10102=2) | Activation Type | Specifier of Activation Order: At-Or-Below-TradePrice (3) or At-Or-Above-TradePrice (2) |
| 10103   | Activation Value | Set to the Activation price (in ticks) |
| 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 |

----

**Activation Value Format** (**Tag 10103**):  
`Ticks;Activation Cancel Time;Cancel Time;Volume`

  * **Ticks** – Required. Price in ticks that triggers the order.  
  * **Activation Cancel Time** – Optional. Time to cancel the order if not yet activated.  
    - Can be a date/time in format `dd MMM yyyy HH:mm:ss` or seconds from now.  
  * **Cancel Time** – Optional. Time to cancel the order after activation.  
    - Same formats as above.  
  * **Volume** – Optional. Minimum last trade total volume at the activation price before activation.  
    - If the market trades through the activation price, the order will activate regardless of volume.

----

**Examples of ActivationValue:**

  * `12867` – Activates when price trades at 12867 ticks if the market allows order submission.  
  * `12867;100` – Activates at 12867 ticks; cancels after 100 seconds if not yet activated.  
  * `12867;100;05 Jul 2012 18:00:00` – Activates at 12867 ticks; cancels after 100 seconds if not activated; cancels again at given time if activated but incomplete.  
  * `12867;;1000` – Activates when price trades 1000 or more lots at 12867 ticks since last traded price, if the market allows submission.

----

**Sample**

In this example, the activation order is submitted, accepted by the **T4 FIX API**, and awaits activation until the market trades at the input price (**ActivationValue** - Tag 10103) of **149250**.  
When a trade occurs at **149250**, the order is activated and submitted to the exchange as a **Buy** (Tag 54=1) **Limit Order** (Tag 40=2) at the price of **149200** (Tag 44).

Activation Order - On Price
<code>
>> 2/22/2013 6:06:57 PM   [FIXNEWORDER] 34=123|49=T4Example|56=test|50=TraderName|52=20130223-00:06:57.467|1=Account1|11=fn-634971532174672718|48=CME_20130300_ESH3|55=ES|207=CME_Eq|54=1|38=1|40=2|44=149200|59=0|167=FUT|21=1|60=20130223-00:06:57.467|204=0|10102=3|10103=149250|
[FIXNEWORDER]
[MsgSeqNum] 34 = 123
[SenderCompID] 49 = T4Example
[TargetCompID] 56 = T4
[SenderSubID] 50 = TraderName
[SendingTime] 52 = 20130223-00:06:57.467
[Account] 1 = Account1
[ClOrdID] 11 = fn-634971532174672718
[SecurityID] 48 = CME_20130300_ESH3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[Side] 54 = 1 (BUY)
[OrderQty] 38 = 1
[OrdType] 40 = 2 (LIMIT)
[Price] 44 = 149200
[TimeInForce] 59 = 0 (DAY)
[SecurityType] 167 = FUT (FUTURE)
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[TransactTime] 60 = 20130223-00:06:57.467
[CustomerOrFirm] 204 = 0 (CUSTOMER)
[ActivationType] 10102 = 3 (AT_OR_BELOW_TRADEPRICE)
[ActivationValue] 10103 = 149250
</code>
Activation Order - Response Awaiting Activation
<code>
<< 2/22/2013 6:06:57 PM  [fixexecutionreport] 34=193|49=T4|56=T4Example|50=T4FIX|52=20130223-00:06:57.482|143=US,IL|1=Account1|11=fn-634971532174672718|17=0.634971532189550000.2.4.FB5A187A|150=9|37=FB5A187A-35A1-40A8-8389-5655979CA6C2|39=9|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=2|44=149200|58=Activation Pending: SubmissionRiskSuccess. Order Held|60=20130223-00:06:58.955|21=1|204=0|10102=3|10103=149250|
[FIXEXECUTIONREPORT]
[MsgSeqNum] 34 = 193
[SenderCompID] 49 = T4
[TargetCompID] 56 = T4Example
[SenderSubID] 50 = T4FIX
[SendingTime] 52 = 20130223-00:06:57.482
[TargetLocationID] 143 = US,IL
[Account] 1 = Account1
[ClOrdID] 11 = fn-634971532174672718
[ExecID] 17 = 0.634971532189550000.2.4.FB5A187A
[ExecType] 150 = 9 (SUSPENDED)
[OrderID] 37 = FB5A187A-35A1-40A8-8389-5655979CA6C2
[OrdStatus] 39 = 9 (SUSPENDED)
[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 = 2 (LIMIT)
[Price] 44 = 149200
[Text] 58 = Activation Pending: SubmissionRiskSuccess. Order Held
[TransactTime] 60 = 20130223-00:06:58.955
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[CustomerOrFirm] 204 = 0 (CUSTOMER)
[ActivationType] 10102 = 3 (AT_OR_BELOW_TRADEPRICE)
[ActivationValue] 10103 = 149250
</code>
Further details on the tags used for this order type are described in the dictionary of the New Order Single message.

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