Imported from previous forum
probably a dumb question but I haven’t found anything concrete confirming or denying it. Is there such a thing as sub-qty in tag 38 for FIX equity order flow.
for example:
38=1099.4
Tag 38 OrderQty has data type Qty which is derived from float (see Volume 1) and thus your definition of “sub-qty” is fully supported as of FIX 4.2.
probably a dumb question but I haven’t found anything concrete
confirming or denying it. Is there such a thing as sub-qty in tag 38 for
FIX equity order flow.for example:
38=1099.4
Tag 38 OrderQty has data type Qty which is derived from float (see
Volume 1) and thus your definition of “sub-qty” is fully supported as
of FIX 4.2.probably a dumb question but I haven’t found anything concrete
confirming or denying it. Is there such a thing as sub-qty in tag 38
for FIX equity order flow.for example:
38=1099.4
Yes, technically is possible but is it business wise? I never seen it in production. I guess is it possible to split up a share of an equity into fractional parts?
I have seen it in Forex venues, where the fill is executed in the inverse currency. And yes, it can cause issues for home grown trading platforms, but development has to react to it. For example, how to determine if an order is fully filled if qty remaining is less than one (0.125 shares or lots).
Tag 38 OrderQty has data type Qty which is derived from float (see
Volume 1) and thus your definition of “sub-qty” is fully supported as
of FIX 4.2.probably a dumb question but I haven’t found anything concrete
confirming or denying it. Is there such a thing as sub-qty in tag 38
for FIX equity order flow.for example:
38=1099.4
Yes, technically is possible but is it business wise? I never seen it in
production. I guess is it possible to split up a share of an equity into
fractional parts?
probably a dumb question but I haven’t found anything concrete
confirming or denying it. Is there such a thing as sub-qty in tag 38 for
FIX equity order flow.for example:
38=1099.4
This may be viable technically but I guess this does not have any implication from business perspective. You cannot have fractional quantity for equities. In fact I have seen equities order being rejected from broker/exchange on submitting a fractional value in the Quantity field.
probably a dumb question but I haven’t found anything concrete
confirming or denying it. Is there such a thing as sub-qty in tag 38
for FIX equity order flow.for example:
38=1099.4
This may be viable technically but I guess this does not have any
implication from business perspective. You cannot have fractional
quantity for equities. In fact I have seen equities order being
rejected from broker/exchange on submitting a fractional value in the
Quantity field.
Yes, same behavior i’m seeing, just wanted to confirm. Thank you