New Order - List (MsgType = E, FIXML = NewOrdList)

The New Order - List (E) Message can be used in one of two ways depending on which market conventions are being followed.

In the "Non disclosed" convention the New Order - List (E) message is sent after the bidding process has been completed, by telephone or electronically. The New Order - List (E) message enumerates the stocks, quantities, direction for the trade and may contain pre-allocation information.

This message may also be used as the first message for the transmission of a program trade where the bidding process has been done by means other than FIX. In this scenario the messages may either be used as a staging process, in which case the broker will start execution once either a ListExecute is received or for immediate execution, in which case the orders will be executed on receipt.

In the "Disclosed" convention the New Order - List (E) message is sent before the bidding process is started, by telephone or electronically. The New Order - List (E) message enumerates the stocks and quantities from the bidding process, and may contain pre-allocation information. The direction of the trade is disclosed after the bidding process is completed.

Where multiple waves of a program trade are submitted by an institution or retail intermediaries, as a series of separate lists, to a broker ClOrdLinkID (583) may be used to link the orders together.

See Volume 4: "Program/Basket/List Trading" of FIX specification for examples.

The New Order - List (E) message type may also be used by institutions or retail intermediaries wishing to electronically submit multiple Collective Investment Vehicle orders to a broker or fund manager for execution.

See VOLUME 7 - "PRODUCT: COLLECTIVE INVESTMENT VEHICLES" of FIX specification

Tag Field Name FIXML Req'd Comments
<Standard Message Header> Y MsgType = E
66 ListID @ListID Y Must be unique, by customer, for the day
390 BidID @BidID N Should refer to an earlier program if bidding took place.
391 ClientBidID @ClBidID N
414 ProgRptReqs @ProgRptReqs N
394 BidType @BidTyp Y e.g. Non Disclosed Model, Disclosed Model, No Bidding Process
415 ProgPeriodInterval @ProgPeriodIntvl N
480 CancellationRights @CxllationRights N For CIV - Optional
481 MoneyLaunderingStatus @MnyLaunderingStat N
513 RegistID @RegistID N Reference to Registration Instructions (o) message applicable to all Orders in this List.
433 ListExecInstType @ListExecInstTyp N Controls when execution should begin. For CIV Orders indicates order of execution.
69 ListExecInst @ListExecInst N Free-form text.
352 EncodedListExecInstLen @EncListExecInstLen C Must be set if EncodedListExecInst (353) field is specified and must immediately precede it.
353 EncodedListExecInst @EncListExecInst C Encoded (non-ASCII characters) representation of the ListExecInst (69) field in the encoded format specified via the MessageEncoding (347) field.
765 AllowableOneSidednessPct @AOSPct N The maximum percentage that execution of one side of a program trade can exceed execution of the other.
766 AllowableOneSidednessValue @AOSValu N The maximum amount that execution of one side of a program trade can exceed execution of the other.
767 AllowableOneSidednessCurr @AOSCurr N The currency that AllowableOneSidedness is expressed in if AllowableOneSidednessValue (766) is used.
68 TotNoOrders @TotNoOrds Y Used to support fragmentation. Sum of NoOrders (73) across all messages with the same ListID (66) .
893 LastFragment @LastFragment N Indicates if this message is the last of a fragmented set of messages
73 NoOrders Ord Y Number of orders in this message (number of repeating groups to follow)
=> 11 ClOrdID @ClOrdID Y Must be the first field in the repeating group.
=> 526 SecondaryClOrdID @ClOrdID2 N
=> 67 ListSeqNo @ListSeqNo Y Order number within the list
=> 583 ClOrdLinkID @ClOrdLinkID N
=> 160 SettlInstMode @SettlInstMode N
=> <Parties> N
=> 229 TradeOriginationDate @OrignDt N
=> 75 TradeDate @TrdDt N
=> 1 Account @Acct N
=> 660 AcctIDSource @AcctIDSrc N
=> 581 AccountType @AcctTyp N
=> 589 DayBookingInst @DayBkngInst N
=> 590 BookingUnit @BkngUnit N
=> 70 AllocID @AllocID N Use to assign an ID to the block of individual preallocations
=> 591 PreallocMethod @PreallocMeth N
=> 78 NoAllocs PreAll N Indicates number of pre-trade allocation accounts to follow
=> => 79 AllocAccount @Acct C Required if NoAllocs (78) > 0. Must be the first field in the repeating group.
=> => 661 AllocAcctIDSource @ActIDSrc N
=> => 736 AllocSettlCurrency @AllocSettlCcy N
=> => 467 IndividualAllocID @IndAllocID N
=> => <Nested Parties> N
=> => 80 AllocQty @Qty N
=> 63 SettlType @SettlTyp N
=> 64 SettlDate @SettlDt C Takes precedence over SettlType (63) value and conditionally required/omitted for specific SettlType (63) values.
=> 544 CashMargin @CshMgn N
=> 635 ClearingFeeIndicator @ClrFeeInd N
=> 21 HandlInst @HandlInst N
=> 18 ExecInst @ExecInst N Can contain multiple instructions, space delimited. If OrdType (40) =P, exactly one of the following values ( ExecInst (18) = L, R, M, P, O, T, or W) must be specified.
=> 110 MinQty @MinQty N
=> 111 MaxFloor @MaxFloor N
=> 100 ExDestination @ExDest N
=> 386 NoTradingSessions TrdSes N
=> => 336 TradingSessionID @SesID C First field in repeating group. Required if NoTradingSessions (386) > 0.
=> => 625 TradingSessionSubID @SesSub N
=> 81 ProcessCode @ProcCode N
=> <Instrument> Y
=> 711 NoUnderlyings Undly N Number of underlyings
=> => <Underlying Instrument> C Must be provided if Number of underlyings > 0
=> 140 PrevClosePx @PrevClsPx N Useful for verifying security identification
=> 54 Side @Side Y Note: to indicate the side of SideValue1 or SideValue2, specify Side (54) =Undisclosed and SideValueInd (401) =either the SideValue1 or SideValue2 indicator.
=> 401 SideValueInd @SideValuInd N Refers to the SideValue1 or SideValue2. These are used as opposed to Buy or Sell so that the basket can be quoted either way as Buy or Sell.
=> 114 LocateReqd @LocReqd C
=> 60 TransactTime @TxnTm N
=> <Stipulations> N
=> 854 QtyType @QtyTyp N
=> <Order Qty Data> Y
=> 40 OrdType @OrdTyp N
=> 423 PriceType @PxTyp N
=> 44 Price @Px C
=> 99 StopPx @StopPx C
=> <Spread or Benchmark Curve Data> N
=> <Yield Data> N
=> 15 Currency @Ccy N
=> 376 ComplianceID @ComplianceID N
=> 377 SolicitedFlag @SolFlag N
=> 23 IOIid @IOIID C Required for Previously Indicated Orders ( OrdType (40) =E)
=> 117 QuoteID @QID C Required for Previously Quoted Orders ( OrdType (40) =D)
=> 59 TimeInForce @TmInForce N
=> 168 EffectiveTime @EfctvTm N
=> 432 ExpireDate @ExpireDt C Conditionally required if TimeInForce (59) = GTD and ExpireTime (126) is not specified.
=> 126 ExpireTime @ExpireTm C Conditionally required if TimeInForce (59) = GTD and ExpireDate (432) is not specified.
=> 427 GTBookingInst @GTBkngInst N States whether executions are booked out or accumulated on a partially filled GT order.
=> <Commission Data> N
=> 528 OrderCapacity @Cpcty N
=> 529 OrderRestrictions @Rstctions N
=> 582 CustOrderCapacity @CustCpcty N
=> 121 ForexReq @ForexReq N
=> 120 SettlCurrency @SettlCcy N
=> 775 BookingType @BkngTyp N Method for booking out this order. Used when notifying a broker that an order to be settled by that broker is to be booked out as an OTC derivative (e.g. CFD or similar). Absence of this field implies regular booking.
=> 58 Text @Txt N
=> 354 EncodedTextLen @EncTxtLen C Must be set if EncodedText (355) field is specified and must immediately precede it.
=> 355 EncodedText @EncTxt C Encoded (non-ASCII characters) representation of the Text (58) field in the encoded format specified via the MessageEncoding (347) field.
=> 193 SettDate2 @SettlDt2 N Can be used with OrdType (40) = "Forex - Swap" to specify the "value date" for the future portion of a F/X swap.
=> 192 OrderQty2 @Qty2 N Can be used with OrdType (40) = "Forex - Swap" to specify the order quantity for the future portion of a F/X swap.
=> 640 Price2 @Px2 N Can be used with OrdType (40) = "Forex - Swap" to specify the price for the future portion of a F/X swap which is also a limit order. For F/X orders, should be the "all-in" rate (spot rate adjusted for forward points).
=> 77 PositionEffect @PosEfct N
=> 203 CoveredOrUncovered @Covered N
=> 210 MaxShow @MaxShow N
=> <Peg Instructions> N
=> <Discretion Instructions> N
=> 847 TargetStrategy @TgtStrategy N The target strategy of the order
=> 848 TargetStrategyParameters @TgtStrategyParameters N For further specification of the TargetStrategy (847)
=> 849 ParticipationRate @ParticipationRt C Mandatory for a TargetStrategy (847) =Participate order and specifies the target particpation rate. For other order types optionally specifies a volume limit (i.e. do not be more than this percent of the market volume)
=> 494 Designation @Designation N Supplementary registration information for this Order within the List
<Standard Message Trailer> Y