# Forex: Value in currency (tag15) **URL:** \ **Category:** General Q&A\ **Tags:** imported, foreign-exchange, xid\_165601\ **Created:** [August 23, 2007, 9:54pm UTC](https://forum.fixtrading.org/t/forex-value-in-currency-tag15/13529 "2007-08-23T21:54:43Z")\ **Posts on this page:** 6\ **Page:** 1
**Author:** ![fplpo\_x](https://avatars.discourse-cdn.com/v4/letter/f/7ab992/32.png) [@fplpo\_x](https://forum.fixtrading.org/u/fplpo_x)\ **Post date:** [August 23, 2007, 9:54pm UTC](https://forum.fixtrading.org/t/forex-value-in-currency-tag15/13529/1 "2007-08-23T21:54:43Z")
Imported from previous forum ---
**Author:** ![fplpo\_x](https://avatars.discourse-cdn.com/v4/letter/f/7ab992/32.png) [@fplpo\_x](https://forum.fixtrading.org/u/fplpo_x)\ **Post date:** [August 23, 2007, 9:54pm UTC](https://forum.fixtrading.org/t/forex-value-in-currency-tag15/13529/2 "2007-08-23T21:54:43Z")
[original email was from Natan Kugel - [nkugel@espeed.com](mailto:nkugel@espeed.com) ] What would be the value in tag 15 for EUR/USD? Would it be primary currency (EUR) or secondary (USD)? Perhaps there is a better way / tag that is applicable? ---
**Author:** ![fplpo\_x](https://avatars.discourse-cdn.com/v4/letter/f/7ab992/32.png) [@fplpo\_x](https://forum.fixtrading.org/u/fplpo_x)\ **Post date:** [August 23, 2007, 10:10pm UTC](https://forum.fixtrading.org/t/forex-value-in-currency-tag15/13529/3 "2007-08-23T22:10:36Z")
[original email was from Natan Kugel - [nkugel@espeed.com](mailto:nkugel@espeed.com) ] \> What would be the value in tag 15 for EUR/USD? Would it be primary > currency (EUR) or secondary (USD)? Perhaps there is a better way / tag > that is applicable? > e.g. > Order (A) Buy 2M EUR/USD @ 1.37, what is the value in Tag 15? > Prder (B) Sell 3M EUR/USD @ 1.37, what is the value in Tag 15? ---
**Author:** ![fplpo\_x](https://avatars.discourse-cdn.com/v4/letter/f/7ab992/32.png) [@fplpo\_x](https://forum.fixtrading.org/u/fplpo_x)\ **Post date:** [August 24, 2007, 2:33am UTC](https://forum.fixtrading.org/t/forex-value-in-currency-tag15/13529/4 "2007-08-24T02:33:30Z")
[original email was from Jay Hurley - [Jay.Hurley@morganstanley.com](mailto:Jay.Hurley@morganstanley.com) ] \> \> What would be the value in tag 15 for EUR/USD? Would it be primary > > currency (EUR) or secondary (USD)? Perhaps there is a better way / tag > > that is applicable? > > e.g.Order (A) Buy 2M EUR/USD @ 1.37, what is the value in Tag 15? Prder > > (B) Sell 3M EUR/USD @ 1.37, what is the value in Tag 15? 15= is the dealt currency i.e. for 55=EUR/USD, 15=EUR then 54=1 means buying EUR (selling USD) and if 15=USD it means buying USD (selling EUR). For further information, please see the Foreign Exchange Ehancements section of the FIX5.0 spec. ---
**Author:** ![fplpo\_x](https://avatars.discourse-cdn.com/v4/letter/f/7ab992/32.png) [@fplpo\_x](https://forum.fixtrading.org/u/fplpo_x)\ **Post date:** [September 20, 2007, 5:59pm UTC](https://forum.fixtrading.org/t/forex-value-in-currency-tag15/13529/5 "2007-09-20T17:59:01Z")
[original email was from Natan Kugel - [nkugel@espeed.com](mailto:nkugel@espeed.com) ] \> \> \> What would be the value in tag 15 for EUR/USD? Would it be primary > > > currency (EUR) or secondary (USD)? Perhaps there is a better way / > > > tag that is applicable? > > > e.g.Order (A) Buy 2M EUR/USD @ 1.37, what is the value in Tag 15? > > > Prder > > > (B) Sell 3M EUR/USD @ 1.37, what is the value in Tag 15? > > 15= is the dealt currency i.e. for 55=EUR/USD, 15=EUR then 54=1 means > buying EUR (selling USD) and if 15=USD it means buying USD (selling > EUR). For further information, please see the Foreign Exchange > Ehancements section of the FIX5.0 spec. Thank you! Please confirm the understanding for the following samples: 55=EUR/USD|54=1|15=EUR - buy EUR, sell USD; the same as 55=USD/EUR|54=1|15=EUR 55=EUR/USD|54=2|15=EUR - sell EUR, buy USD; the same as 55=USD/EUR|54=2|15=EUR 55=EUR/USD|54=2|15=USD - sell USD, buy EUR; the same as 55=USD/EUR|54=2|15=USD 55=EUR/USD|54=1|15=USD - buy USD, sell EUR; the same as 55=USD/EUR|54=1|15=USD Please clarify. ---
**Author:** ![fplpo\_x](https://avatars.discourse-cdn.com/v4/letter/f/7ab992/32.png) [@fplpo\_x](https://forum.fixtrading.org/u/fplpo_x)\ **Post date:** [September 21, 2007, 4:41am UTC](https://forum.fixtrading.org/t/forex-value-in-currency-tag15/13529/6 "2007-09-21T04:41:11Z")
[original email was from Jay Hurley - [Jay.Hurley@morganstanley.com](mailto:Jay.Hurley@morganstanley.com) ] \> \> \> \> What would be the value in tag 15 for EUR/USD? Would it be primary > > > > currency (EUR) or secondary (USD)? Perhaps there is a better way / > > > > tag that is applicable? > > > > e.g.Order (A) Buy 2M EUR/USD @ 1.37, what is the value in Tag 15? > > > > Prder > > > > (B) Sell 3M EUR/USD @ 1.37, what is the value in Tag 15? > > > > 15= is the dealt currency i.e. for 55=EUR/USD, 15=EUR then 54=1 means > > buying EUR (selling USD) and if 15=USD it means buying USD (selling > > EUR). For further information, please see the Foreign Exchange > > Ehancements section of the FIX5.0 spec. > > Thank you! > > Please confirm the understanding for the following samples: > 55=EUR/USD|54=1|15=EUR - buy EUR, sell USD; the same as > 55=USD/EUR|54=1|15=EUR > > 55=EUR/USD|54=2|15=EUR - sell EUR, buy USD; the same as > 55=USD/EUR|54=2|15=EUR > > 55=EUR/USD|54=2|15=USD - sell USD, buy EUR; the same as > 55=USD/EUR|54=2|15=USD > > 55=EUR/USD|54=1|15=USD - buy USD, sell EUR; the same as > 55=USD/EUR|54=1|15=USD > > Please clarify. Your examples are correct but the price (44=) would be different. Here is an alternative example: 55=EUR/USD;54=1;15=EUR;44=1.4000;38=1000000; is the same as 55=EUR/USD;54=2;15=USD;44=1.4000;38=1400000; Note how the side and currency both flip around, that the price is still a EUR/USD rate and the quantity is in relation to the dealt currency so using the 1.4000 rate B 1M EUR becomes sell 1.4M USD.