Market If Touched

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Imported from previous forum

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[ original email was from Ryan Pierce - rpierce@taltrade.com ]
Does the price for a Market If Touched order go in Price or StopPx?

The 4.3 spec doesn’t appear to say. Most orders keep pricing information in Price. But MIT behaves much like a Stop order, so using StopPx sounds appropriate as well.

Thoughts?

I’d hope that this could be clarified in FIX 4.4.

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[ original email was from Tayloe Draughon - tayloed@capital-mkts.com ]
I would put it into StopPx.

> Does the price for a Market If Touched order go in Price or StopPx?
>
> The 4.3 spec doesn’t appear to say. Most orders keep pricing information in Price. But MIT behaves much like a Stop order, so using StopPx sounds appropriate as well.
>
> Thoughts?
>
> I’d hope that this could be clarified in FIX 4.4.
>