Tag 40 - Stop Close Only

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Imported from previous forum

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Can someone advise the best way to handle Stop On Close order type ? I am assuming its withing Tag40 but I cannot find a standard value for this particular order type.

Thanks

3

Can someone advise the best way to handle Stop On Close order type ? I
am assuming its withing Tag40 but I cannot find a standard value for
this particular order type.

Thanks

Richard,

In FIX 4.3, the idea of on-close was separated from the order type. Previously, there were specific order types for Market on Close (5) and Limit on Close (B). Those are now deprecated, in favor of using TimeInForce=At the close (7). So, for stop on close you could use OrdType=Stop (3), TimeInForce=At the close (7). You can use TimeInForce=7 under FIX 4.2 if your system and your counter parties can support it.