===== 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.

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