I am being asked to trade Money Market Mutual Funds, not individual money market securities, using FIX.
I am curious to know if anyone has insight, experience, warnings, and or specs to share.
Thank you.
If you’re asking about how to trade a mutual fund, typically it is treated like an equity, regardless of what is the make-up of the securities in the fund, where you refer to the fund via its fund symbol and place the order that way.
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One difference is that mutual fund order size is often specified by CashOrderQty (152) instead of OrderQty (38). That is, by monetary amount rather than number of shares. See Component OrderQtyData.
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