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Page Revision: 2013/02/22 12:02

A Hit order submits a limit order at the best bid or offer price in order to get filled. A Hit Order is entered with the New Order Single (Tag 35=D) message. Following are the most relevant tags to build a Limit Order.

Tag 40=H	OrdType	Specifier of Hit Order Type
Tag 48	SecurityID	Market for which the order is sent for
Tag 55	Symbol	Contract for which the order is sent for
Tag 200	SecurityExchange	Exchange for which the order is sent for
Tag 167	SecurityType	Security Type (e.g. Futures) of this specific market

Sample

In this example, the hit order is submitted for by entering OrderType (Tag 40) equal to H. Note, that the Price (Tag 44) is not entered.

Hit Order

>> 2/22/2013 11:55:46 AM   [FIXNEWORDER] 34=35|49=T4Example|56=T4|50=TraderName|52=20130222-17:55:46.683|1=Account1|11=fn-634971309466837611|48=CME_20130300_ESH3|55=ES|207=CME_Eq|54=1|38=1|40=H|59=0|167=FUT|21=1|60=20130222-17:55:46.683|204=0|
[FIXNEWORDER]
[MsgSeqNum] 34 = 35
[SenderCompID] 49 = T4Example
[TargetCompID] 56 = T4
[SenderSubID] 50 = TraderName
[SendingTime] 52 = 20130222-17:55:46.683
[Account] 1 = Account1
[ClOrdID] 11 = fn-634971309466837611
[SecurityID] 48 = CME_20130300_ESH3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[Side] 54 = 1 (BUY)
[OrderQty] 38 = 1
[OrdType] 40 = H (HIT)
[TimeInForce] 59 = 0 (DAY)
[SecurityType] 167 = FUT (FUTURE)
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[TransactTime] 60 = 20130222-17:55:46.683
[CustomerOrFirm] 204 = 0 (CUSTOMER)

Hit Order Response - Awaiting Trigger

<< 2/22/2013 11:55:46 AM  [fixexecutionreport] 34=84|49=T4|56=T4Example|50=T4FIX|52=20130222-17:55:46.714|143=US,IL|1=Account1|11=fn-634971309466837611|17=0.634971309480275000.2.1.BEA493C4|150=A|37=BEA493C4-AB3C-4369-BC14-21CF8D4329FA|39=A|48=CME_20130300_ESH3|55=ES|207=CME_Eq|200=201303|59=0|107=E-mini S&P 500 Mar13|54=1|167=FUT|38=1|40=H|58=Hit Awaiting Trigger|60=20130222-17:55:48.027|21=1|204=0|
[FIXEXECUTIONREPORT]
[MsgSeqNum] 34 = 84
[SenderCompID] 49 = T4
[TargetCompID] 56 = T4Example
[SenderSubID] 50 = T4FIX
[SendingTime] 52 = 20130222-17:55:46.714
[TargetLocationID] 143 = US,IL
[Account] 1 = Account1
[ClOrdID] 11 = fn-634971309466837611
[ExecID] 17 = 0.634971309480275000.2.1.BEA493C4
[ExecType] 150 = A (PENDING_NEW)
[OrderID] 37 = BEA493C4-AB3C-4369-BC14-21CF8D4329FA
[OrdStatus] 39 = A (PENDING_NEW)
[SecurityID] 48 = CME_20130300_ESH3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[MaturityMonthYear] 200 = 201303
[TimeInForce] 59 = 0 (DAY)
[SecurityDesc] 107 = E-mini S&P 500 Mar13
[Side] 54 = 1 (BUY)
[SecurityType] 167 = FUT (FUTURE)
[OrderQty] 38 = 1
[OrdType] 40 = H (HIT)
[Text] 58 = Hit Awaiting Trigger
[TransactTime] 60 = 20130222-17:55:48.027
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[CustomerOrFirm] 204 = 0 (CUSTOMER)

Hit Order Response

<< 2/22/2013 11:55:46 AM fixexecutionreport 34=85|49=T4|56=T4Example|50=T4FIX|52=20130222-17:55:46.746|143=US,IL|1=Account1|11=fn-634971309466837611|17=48064.6419490058_ESH3.6349713094817500006.1.BEA493C4|150=0|37=BEA493C4-AB3C-4369-BC14-21CF8D4329FA|39=0|48=CME_20130300_ESH3|55=ES|207=CME_Eq|200=201303|59=0|107=E-mini S&P 500 Mar13|54=1|167=FUT|38=1|40=2|44=149850|60=20130222-17:55:48.175|21=1|204=0| FIXEXECUTIONREPORT MsgSeqNum 34 = 85 SenderCompID 49 = T4 TargetCompID 56 = T4Example SenderSubID 50 = T4FIX SendingTime 52 = 20130222-17:55:46.746 TargetLocationID 143 = US,IL Account 1 = Account1 ClOrdID 11 = fn-634971309466837611 ExecID 17 = 48064.6419490058_ESH3.6349713094817500006.1.BEA493C4 ExecType 150 = 0 (NEW) OrderID 37 = BEA493C4-AB3C-4369-BC14-21CF8D4329FA OrdStatus 39 = 0 (NEW) SecurityID 48 = CME_20130300_ESH3 Symbol 55 = ES SecurityExchange 207 = CME_Eq MaturityMonthYear 200 = 201303 TimeInForce 59 = 0 (DAY) SecurityDesc 107 = E-mini S&P 500 Mar13 Side 54 = 1 (BUY) SecurityType 167 = FUT (FUTURE) OrderQty 38 = 1 OrdType 40 = 2 (LIMIT) Price 44 = 149850 TransactTime 60 = 20130222-17:55:48.175 HandlInst 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION) CustomerOrFirm 204 = 0 (CUSTOMER)



<span style="color:green;">Hit Order Fill</span><br/>
<< 2/22/2013 11:55:46 AM  [fixexecutionreport] 34=86|49=T4|56=T4Example|50=T4FIX|52=20130222-17:55:46.933|143=US,IL|1=Account1|11=fn-634971309466837611|17=64201:7469291TN0601616.63497130948175000021.2.BEA493C4|150=F|37=BEA493C4-AB3C-4369-BC14-21CF8D4329FA|39=2|48=CME_20130300_ESH3|55=ES|207=CME_Eq|200=201303|59=0|107=E-mini S&P 500 Mar13|54=1|167=FUT|38=1|40=2|44=149850|31=149850|32=1|14=1|151=0|60=20130222-17:55:48.230|21=1|204=0|337=TRADE|375=CME000A|
[FIXEXECUTIONREPORT]
[MsgSeqNum] 34 = 86
[SenderCompID] 49 = T4
[TargetCompID] 56 = T4Example
[SenderSubID] 50 = T4FIX
[SendingTime] 52 = 20130222-17:55:46.933
[TargetLocationID] 143 = US,IL
[Account] 1 = Account1
[ClOrdID] 11 = fn-634971309466837611
[ExecID] 17 = 64201:7469291TN0601616.63497130948175000021.2.BEA493C4
[ExecType] 150 = F
[OrderID] 37 = BEA493C4-AB3C-4369-BC14-21CF8D4329FA
[OrdStatus] 39 = 2 (FILLED)
[SecurityID] 48 = CME_20130300_ESH3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[MaturityMonthYear] 200 = 201303
[TimeInForce] 59 = 0 (DAY)
[SecurityDesc] 107 = E-mini S&P 500 Mar13
[Side] 54 = 1 (BUY)
[SecurityType] 167 = FUT (FUTURE)
[OrderQty] 38 = 1
[OrdType] 40 = 2 (LIMIT)
[Price] 44 = 149850
[LastPx] 31 = 149850
[LastShares] 32 = 1
[CumQty] 14 = 1
[LeavesQty] 151 = 0
[TransactTime] 60 = 20130222-17:55:48.230
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[CustomerOrFirm] 204 = 0 (CUSTOMER)
[ContraTrader] 337 = TRADE
[ContraBroker] 375 = CME000A

Further details on the tags used for this order type are described in the dictionary of the New Order Single message.

Page History: Hit Order

Page Revision: 2013/02/22 12:02

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