TAG 110:MinQty

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1

Imported from previous forum

2

Hello,
I see that Tag 110 (MinQty) is defined as "Minimum quantity of an order to be executed".

Does this mean that if i route an order 10,000 share order to a broker and I send a value of 50,000 over on tag 110, the order will not be processed by the broker (the order does not meet the minimum threshold)

OR

does this mean to instruct brokers not to send fills back that are less than 50,000 shares in quantity?

thanks you

3

The minimum quantity tag dictates the minimum order quantity that is to be executed. It does not mean the minimum fill quantity sent back to the order initiator. It basically is a command to the execution destination to either fill “at least” this much quantity or do not make a fill at all. Obviously the fill quantity may exceed this minimum threshold.
The minimum quantity exceeding the order quantity, in my opinion is an errant scenario. I personally think that most of the brokers/execution destinations will reject such an order.

Kashif Awan,
kashif.awan@kolachi.net.
Manager Electronic Connectivity,
Kolachi Advanced Technologies.
www.kolachi.com.

> Hello,
> I see that Tag 110 (MinQty) is defined as "Minimum quantity of an order to be executed".
>
> Does this mean that if i route an order 10,000 share order to a broker and I send a value of 50,000 over on tag 110, the order will not be processed by the broker (the order does not meet the minimum threshold)
>
> OR
>
> does this mean to instruct brokers not to send fills back that are less than 50,000 shares in quantity?
>
> thanks you
>