Order driven FX

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Imported from previous forum

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[ original email was from Greg Wood - gregjwood@hotmail.com ]
Hi,

I’m looking at street practices for order-driven FX trading via FIX 4.2.

Do people typically use tag 40=1 (Market) / 40=2 (Limit) or tag 40=C (FOREX Market) / 40=F (FOREX Limit) in MsgType D ?

What - if any - are the practical differences between order types 1&C and 2&F ?

Cheers,

  • Greg