Use of Tag# 104 (IOIQualifier)

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Imported from previous forum

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Hi,

As per FIX 4.2 specification, tag 104 i.e IOIQualifier is used to qualify IOI use.
It will be of great help if someone can explain business logic to use this tag in IOI and which side will use this tag while sending IOI, a buy side or sell side.

Regards,
Tony M.

3

Hi,

As per FIX 4.2 specification, tag 104 i.e IOIQualifier is used to qualify IOI use.
It will be of great help if someone can explain business logic to use this tag in IOI and which side will use this tag while sending IOI, a buy side or sell side.

Regards,
Tony M.

which side will use this tag while sending IOI, a buy side or sell sid
The tag is used by the IOI sender obviously and I have always seen IOIs going from sell side to buy side.So sell side.

But I suppose there isn’t really anything that prevents a buy side firm from sending an IOI, provided it can find a broker/bank that can process incoming IOI.

Regarding the business logic, the tag is used to express information on the kind of order the broker is working on. So for example “All or None” (IOIQualifier=A) will mean the broker is interested in an order that will fill the whole IOI quantity and not partial.