Minimum block in FIX 4.2

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1

Imported from previous forum

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Can anybody tell me how to mention minimum block in a new order message of FIX 4.2. I mean, which tag is used to differentiate the new order whether it is a minimum block order or minimum fill order.

3

Rajesh,

Take a look at

Tag 110 (MinQty) Minimum quantity of an order to be executed.

Regards,
K. Mahesh
+1-203-252-4039

Can anybody tell me how to mention minimum block in a new order message
of FIX 4.2. I mean, which tag is used to differentiate the new order
whether it is a minimum block order or minimum fill order.

4

Mahesh,

Thanks for your reply.

Tag 110 is used to specify Minimum quantity for an order. An order becomes a minimum fill order when tag 110 is used.

But I need to know how we need to mention Minimum block. Or what differentiates a minimum block order from a minimum fill order.

The difference between a minimum fill order and a minimum block order is that in a minimum block order every fill will be for a minimum value that is specified in the new order message.

I dont know whether this concept of Minimum block is supported in FIX 4.2

Thanks in advance for your reply.

Regards
rajesh

Rajesh,

Take a look at

Tag 110 (MinQty) Minimum quantity of an order to be executed.

Regards,
K. Mahesh +1-203-252-4039

Can anybody tell me how to mention minimum block in a new order
message of FIX 4.2. I mean, which tag is used to differentiate the new
order whether it is a minimum block order or minimum fill order.

5

[ original email was from Bernt Sandén - bernt.sanden@omxgroup.com ]
Mahesh,

I think you mean that the difference between the minimum fill and the minimum block is that the minimum fill requires the minimum qty to be filled once and then be converted to a regular order without minimum qty restriction. A minimum block keeps the minimum qty during its lifetime.

However there is no way to express that in FIX 4.2. I suggest to add a custom defined “FillOnce” Y/N tag that can be used to differentiate between the two cases, i.e. MinQty + FillOnce=Y => Minimum fill. MinQty alone or MinQty+FillOnce=N => Minimum block.

Regards,

Bernt

Mahesh,

Thanks for your reply.

Tag 110 is used to specify Minimum quantity for an order. An order
becomes a minimum fill order when tag 110 is used.

But I need to know how we need to mention Minimum block. Or what
differentiates a minimum block order from a minimum fill order.

The difference between a minimum fill order and a minimum block order is
that in a minimum block order every fill will be for a minimum value
that is specified in the new order message.

I dont know whether this concept of Minimum block is supported in FIX
4.2

Thanks in advance for your reply.

Regards rajesh

Rajesh,

Take a look at

Tag 110 (MinQty) Minimum quantity of an order to be executed.

Regards,
K. Mahesh +1-203-252-4039

Can anybody tell me how to mention minimum block in a new order
message of FIX 4.2. I mean, which tag is used to differentiate the
new order whether it is a minimum block order or minimum fill order.

6

Thanks a lot for both Bernt and Mahesh.

Regards
Rajesh

Mahesh,

I think you mean that the difference between the minimum fill and the
minimum block is that the minimum fill requires the minimum qty to be
filled once and then be converted to a regular order without minimum qty
restriction. A minimum block keeps the minimum qty during its lifetime.

However there is no way to express that in FIX 4.2. I suggest to add a
custom defined “FillOnce” Y/N tag that can be used to differentiate
between the two cases, i.e. MinQty + FillOnce=Y => Minimum fill. MinQty
alone or MinQty+FillOnce=N => Minimum block.

Regards,

Bernt

Mahesh,

Thanks for your reply.

Tag 110 is used to specify Minimum quantity for an order. An order
becomes a minimum fill order when tag 110 is used.

But I need to know how we need to mention Minimum block. Or what
differentiates a minimum block order from a minimum fill order.

The difference between a minimum fill order and a minimum block order
is that in a minimum block order every fill will be for a minimum
value that is specified in the new order message.

I dont know whether this concept of Minimum block is supported in FIX
4.2

Thanks in advance for your reply.

Regards rajesh

Rajesh,

Take a look at

Tag 110 (MinQty) Minimum quantity of an order to be executed.

Regards,
K. Mahesh +1-203-252-4039

Can anybody tell me how to mention minimum block in a new order
message of FIX 4.2. I mean, which tag is used to differentiate the
new order whether it is a minimum block order or minimum fill
order.