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4.2 Changes

Discussions > 4.2 Changes > Minimum block in FIX 4.2

Minimum block in FIX 4.2

Complete message thread from old site

Rajesh P
2622 days ago,(2007/02/13)

Can anybody tell me how to mention minimum block in a new order message of FIX 4.2. I mean, which tag is used to differentiate the new order whether it is a minimum block order or minimum fill order.

Mahesh Kumaraguru
2622 days ago,(2007/02/13)

Rajesh,

Take a look at

Tag 110 (MinQty) Minimum quantity of an order to be executed.

Regards,
K. Mahesh
+1-203-252-4039

> Can anybody tell me how to mention minimum block in a new order message
> of FIX 4.2. I mean, which tag is used to differentiate the new order
> whether it is a minimum block order or minimum fill order.

Rajesh P
2621 days ago,(2007/02/14)

Mahesh,

Thanks for your reply.

Tag 110 is used to specify Minimum quantity for an order. An order becomes a minimum fill order when tag 110 is used.

But I need to know how we need to mention Minimum block. Or what differentiates a minimum block order from a minimum fill order.

The difference between a minimum fill order and a minimum block order is that in a minimum block order every fill will be for a minimum value that is specified in the new order message.

I dont know whether this concept of Minimum block is supported in FIX 4.2

Thanks in advance for your reply.

Regards
rajesh

> Rajesh,
>
> Take a look at
>
> Tag 110 (MinQty) Minimum quantity of an order to be executed.
>
> Regards,
> K. Mahesh +1-203-252-4039
>
> > Can anybody tell me how to mention minimum block in a new order
> > message of FIX 4.2. I mean, which tag is used to differentiate the new
> > order whether it is a minimum block order or minimum fill order.

FIX Trading Community
2621 days ago,(2007/02/14)

[ original email was from Bernt Sandén - bernt.sanden@omxgroup.com ]
Mahesh,

I think you mean that the difference between the minimum fill and the minimum block is that the minimum fill requires the minimum qty to be filled once and then be converted to a regular order without minimum qty restriction. A minimum block keeps the minimum qty during its lifetime.

However there is no way to express that in FIX 4.2. I suggest to add a custom defined "FillOnce" Y/N tag that can be used to differentiate between the two cases, i.e. MinQty + FillOnce=Y => Minimum fill. MinQty alone or MinQty+FillOnce=N => Minimum block.

Regards,

Bernt

> Mahesh,
>
> Thanks for your reply.
>
> Tag 110 is used to specify Minimum quantity for an order. An order
> becomes a minimum fill order when tag 110 is used.
>
> But I need to know how we need to mention Minimum block. Or what
> differentiates a minimum block order from a minimum fill order.
>
> The difference between a minimum fill order and a minimum block order is
> that in a minimum block order every fill will be for a minimum value
> that is specified in the new order message.
>
> I dont know whether this concept of Minimum block is supported in FIX
> 4.2
>
> Thanks in advance for your reply.
>
> Regards rajesh
>
> > Rajesh,
> >
> > Take a look at
> >
> > Tag 110 (MinQty) Minimum quantity of an order to be executed.
> >
> > Regards,
> > K. Mahesh +1-203-252-4039
> >
> > > Can anybody tell me how to mention minimum block in a new order
> > > message of FIX 4.2. I mean, which tag is used to differentiate the
> > > new order whether it is a minimum block order or minimum fill order.

Rajesh P
2618 days ago,(2007/02/17)

Thanks a lot for both Bernt and Mahesh.

Regards
Rajesh

> Mahesh,
>
> I think you mean that the difference between the minimum fill and the
> minimum block is that the minimum fill requires the minimum qty to be
> filled once and then be converted to a regular order without minimum qty
> restriction. A minimum block keeps the minimum qty during its lifetime.
>
> However there is no way to express that in FIX 4.2. I suggest to add a
> custom defined "FillOnce" Y/N tag that can be used to differentiate
> between the two cases, i.e. MinQty + FillOnce=Y => Minimum fill. MinQty
> alone or MinQty+FillOnce=N => Minimum block.
>
> Regards,
>
> Bernt
>
> > Mahesh,
> >
> > Thanks for your reply.
> >
> > Tag 110 is used to specify Minimum quantity for an order. An order
> > becomes a minimum fill order when tag 110 is used.
> >
> > But I need to know how we need to mention Minimum block. Or what
> > differentiates a minimum block order from a minimum fill order.
> >
> > The difference between a minimum fill order and a minimum block order
> > is that in a minimum block order every fill will be for a minimum
> > value that is specified in the new order message.
> >
> > I dont know whether this concept of Minimum block is supported in FIX
> > 4.2
> >
> > Thanks in advance for your reply.
> >
> > Regards rajesh
> >
> > > Rajesh,
> > >
> > > Take a look at
> > >
> > > Tag 110 (MinQty) Minimum quantity of an order to be executed.
> > >
> > > Regards,
> > > K. Mahesh +1-203-252-4039
> > >
> > > > Can anybody tell me how to mention minimum block in a new order
> > > > message of FIX 4.2. I mean, which tag is used to differentiate the
> > > > new order whether it is a minimum block order or minimum fill
> > > > order.