A Limit Order is entered with the New Order Single (Tag 35=D) message.
Following are the most relevant tags to build a Limit Order.
| Tag | Name | Description |
|---|---|---|
| 40=2 | OrdType | Specifier of Limit Order Type |
| 44 | Price | Limit 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 |
In this example, the order is submitted for a limit price (Tag 44) of 149725 or better.
As it is a buy order, a better price indicates a price lower than 149725.
Limit Order
>> 2/21/2013 5:26:42 PM [FIXNEWORDER] 34=86|49=T4Example|56=T4|50=TraderName|52=20130221-23:26:42.990|1=Account1|11=fn-634970644029904321|48=CME_20130300_ESH3|55=ES|207=CME_Eq|54=1|38=1|40=2|44=149725|59=0|167=FUT|21=1|60=20130221-23:26:42.990|204=0| [FIXNEWORDER] [MsgSeqNum] 34 = 86 [SenderCompID] 49 = T4Example [TargetCompID] 56 = T4 [SenderSubID] 50 = TraderName [SendingTime] 52 = 20130221-23:26:42.990 [Account] 1 = Account1 [ClOrdID] 11 = fn-634970644029904321 [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 = 149725 [TimeInForce] 59 = 0 (DAY) [SecurityType] 167 = FUT (FUTURE) [HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION) [TransactTime] 60 = 20130221-23:26:42.990 [CustomerOrFirm] 204 = 0 (CUSTOMER)
Limit Order Response
<< 2/21/2013 5:26:43 PM [fixexecutionreport] 34=132|49=test|56=T4Test|50=T4FIX|52=20130221-23:26:43.021|143=US,IL|1=ernesto|11=fn-634970644029904321|17=48009.6417470756_ESH3.6349706440415100006.1.E9249F57|150=0|37=E9249F57-FBC5-405B-AE72-4A020953F570|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=2|44=149725|60=20130221-23:26:44.151|21=1|204=0| [FIXEXECUTIONREPORT] [MsgSeqNum] 34 = 132 [SenderCompID] 49 = test [TargetCompID] 56 = T4Test [SenderSubID] 50 = T4FIX [SendingTime] 52 = 20130221-23:26:43.021 [TargetLocationID] 143 = US,IL [Account] 1 = ernesto [ClOrdID] 11 = fn-634970644029904321 [ExecID] 17 = 48009.6417470756_ESH3.6349706440415100006.1.E9249F57 [ExecType] 150 = 0 (NEW) [OrderID] 37 = E9249F57-FBC5-405B-AE72-4A020953F570 [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 = 2 (LIMIT) [Price] 44 = 149725 [TransactTime] 60 = 20130221-23:26:44.151 [HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION) [CustomerOrFirm] 204 = 0 (CUSTOMER)
Further details on the tags used for this order type are described in the dictionary of the New Order Single message.