Dear FIX users,
all the order execution venues (market places, trading systems etc.) I know use 38/OrderQty to order the securities in defined “pieces”.
I wonder which trading venues use cash orders i.e. order where the ordered amount is defined by a cash value. Please, if anybody knows examples it would be great if s/he could post them here.
I guess the percentage of cash-order based execution venues is quite low, below 10 percent or less.
I am looking forward to your feedback!
Best regards, Jörg