Market if Touched Orders
A Market if Touched Order is a Market order, with a user set Trigger Price to activate the order
Request and Acknowledgement
8=FIX.4.2
9=152
35=D
34=7332
49=TEST1
52=20160208-14:41:33.643
56=DWFIX01
1=DPQP000013
11=982A298766020822123456797
21=1
38=170
40=1
54=1
55=AMZN
60=20160208-14:41:33.643
6110=<Trigger Price>
10=243
8=FIX.4.2
9=233
35=8
34=10738
49=DWFIX01
52=20160208-14:41:34.126
56=TEST1
1=DPQP000013
6=0
11=982A298766020822123456797
14=0
17=91454714030646
20=0
21=1
31=0
32=0
37=DBCY000007
38=170
39=0
40=1
54=1
55=AMZN
59=0
60=20160208-14:41:34.039
150=0
151=170
10=152
8=FIX.4.2
9=152
35=D
34=7332
49=TEST1
52=20160208-14:41:33.643
56=DWFIX01
1=DPQP000013
11=982A298766020822123456797
21=1
152=2000
40=1
54=1
55=AMZN
60=20160208-14:41:33.643
6110=<Trigger Price>
10=243
8=FIX.4.2
9=233
35=8
34=10738
49=DWFIX01
52=20160208-14:41:34.126
56=TEST1
1=DPQP000013
6=0
11=982A298766020822123456797
14=0
17=91454714030646
20=0
21=1
31=0
32=0
37=DBCY000007
152=2000
39=0
40=1
54=1
55=AMZN
59=0
60=20160208-14:41:34.039
150=0
151=170
10=152
What is a Market if Touched (MIT) Order?
A Market if Touched (MIT) is an order to buy (or sell) an instrument below (or above) the market. Its purpose is to take advantage of sudden or unexpected changes in share or order prices and provides investors with a trigger price to set an order in motion.
Market if Touched Order FIX Message
Note: The only difference between a Market order and a Market if Touched order is the addition of tag 6110 as the trigger price.
| Tag | Tag Description | Example Value | Value Description | Required |
|---|---|---|---|---|
8 | BeginString | FIX.4.1 | FIX Version | Yes |
9 | BodyLength | 145 | Length of message | Yes |
35 | MsgType | D | Message type | Yes |
11 | ClOrdID | Unique identifier for the order allocated by the client. | Yes | |
1 | Account | 02e57c7d-d071-4c63-b491-1194a9939ea5.1452548617456 | The identity of settlement account. Used to identify DriveWealth client account. | Yes |
21 | HandlInst | 1 | 1 = Automated execution order, private, no broker intervention | Yes |
38 | OrderQty | 0.1234 | Order quantity. Must be greater than 0.00000001 | Yes - Unless Tags 152 is used |
152 | CashOrderQty | 2000 | Specifies the approximate order quantity desired in total monetary units vs. as a number of shares. | No |
55 | Symbol | AAPL | Ticker symbol | Yes |
54 | Side | 1 | 1 - Buy2 - Sell | Yes |
60 | TransactTime | Time this order request was initiated/released by the trader or trading system. | Yes | |
40 | OrdType | 1 | 1 - Market order | Yes |
| 6110 | TriggerPrice | 123.45 | Same format as tag 44 (Limit Price) | Yes |
59 | TimeInForce | 0 | Market Orders Should be set to 0 | No |
12 | Commission | 10 | Commission override | No |
7000-7003 | meta tags | Set any data in these tags you want returned on executions | No | |
10 | 'Checksum' | Checksum of message | Yes | |
All fields < 18,000 | all fields <18000 would be echoed back but fields 7000 - 7003 will be persisted in the database for lookup |
See [Market Orders ](Market Orders)wiki for any other details.
Updated 9 months ago
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