How to convey Cover Buy on equities orders

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Imported from previous forum

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What is the proper way to indicate a Buy to Cover on an equities order? Tag 54 doesn’t define a value for Cover, but I’ve heard that some people may be using tag 203 (CoveredOrUncovered) to mark orders this way.

Since it seems tag 203 is intended to be used for Options, would it be improper to use it to indicate whether a Buy order is Covering or Long? Is there any other standard way that this should be handled without going to user defined tags?

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Chris,

Tag 58 (Text) can be used to convey a message. And its not a user defined tag. However we need to check if there’s any tag other than 203 which can be used for this.

Regards,
Sunil