Dollars / Shares

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1

Imported from previous forum

2

I am trying to find out if FIX Protocol allows trades to be sent through in dollars as opposed to shares (i.e., Buy me $100 of T).

Thank you.

3

Yes on the New Order Single specify CashOrderQty=100, Currency=USD. (make sure your counterparty supports this, though)

> I am trying to find out if FIX Protocol allows trades to be sent through in dollars as opposed to shares (i.e., Buy me $100 of T).
>
> Thank you.
>

4

> I am trying to find out if FIX Protocol allows trades to be sent through in dollars as opposed to shares (i.e., Buy me $100 of T).
>
> Thank you.
>

Definitely, but the dollar amount only really applies for fixed income.

5

[ original email was from Witold Sames - witold@javtech.com ]
While for all practical purposes, this is not something people would commonly do (there may be exceptions), you could model this by using CashOrderQty (152) instead of OrderQty (38).

It depends on the receiving OMS or other system whether the value in tag 152 can be converted to the appropriate number of shares. There’s also the issue with fractional amounts of shares or ‘left-over’ dollars.

I would assume this is most applicable for mutual fund transactions, like in a 401k plan, for example.

> I am trying to find out if FIX Protocol allows trades to be sent through in dollars as opposed to shares (i.e., Buy me $100 of T).
>
> Thank you.
>