Time in Force value for Funari Order Type

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1

Imported from previous forum

2

Hi,
I am new to FIX and was going through order types and time in force fields. What could be the time in force value for a FUNARI order type. Is it by default stays as DAY and on closing the order type becomes mkt on close and gets fulfilled or do we specify the time in force as 7 (at close).

Also where could I find a mapping of different order types and their equivalent time in force fields (if applicable)

3

In FIX.4.2 and above

40(Order Type) = I(Funari - Limit Day Order with unexecuted portion handled as Market On Close. e.g. Japan)

is used. You can find all the information you need in the specs

http://fixprotocol.org/specifications/

I dont think there is a 1:1 mapping between Order Types and Time in Force because these are two independent dimensions in FIX -

Order Type defines the price aspect of the order

Time in Force defines the duration upto which an order remains active in the market

HTH

Hi, I am new to FIX and was going through order types and time in
force fields. What could be the time in force value for a FUNARI order
type. Is it by default stays as DAY and on closing the order type
becomes mkt on close and gets fulfilled or do we specify the time in
force as 7 (at close).

Also where could I find a mapping of different order types and their
equivalent time in force fields (if applicable)