Tag 11 and Tag 37 length

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1

Imported from previous forum

2

We are being told that the FIX mandatory length
of Tag 11 is 24 while tag 37 is 16. Is this true?

The max of 16 seems to be SWIFT requirement, but
I dont get the 24…

Regards,
Corwin

3

No, that is not correct. The FIX Protocol specification does not have any mandatory lengths for ClOrdID (11) or OrderID (37). In fact there are only a few special fields (i.e. CheckSum (10) which have mandatory lengths).

While the FIX Protocol specification does not specify such mandates, firms may bilaterally agree to restrictions such as max lengths for specific fields.

> We are being told that the FIX mandatory length
> of Tag 11 is 24 while tag 37 is 16. Is this true?
>
> The max of 16 seems to be SWIFT requirement, but
> I dont get the 24…
>
> Regards,
> Corwin
>

4

Fix 4.0 defines the format of field ‘ClOrdID’ and ‘OrderID’ as being char and as such puts no restriction on the minimum or maximum length of the field. The only constraint that seems to be there is that it must be unique (within a single day or over a period of days for multi-day orders). However, in practice, I have seen many brokers put limit on the maximum length of this field in order to comply with their implementations. So from an implementation view point (and to save yourself from a lot of trouble ;-)) what you can do is put these fields under broker level customizations.

Kashif Awan,
Manager Electronic Connectivity,
Kolachi Advanced Technologies.
www.kolachi.com.

> We are being told that the FIX mandatory length
> of Tag 11 is 24 while tag 37 is 16. Is this true?
>
> The max of 16 seems to be SWIFT requirement, but
> I dont get the 24…
>
> Regards,
> Corwin
>