Activation At Time Order

Modified on 2016/05/13 12:32 by ernestoaparcedo — Categorized as: Uncategorized

At Time Activation Orders will be held (i.e. suspended) in the T4 FIX API server until the specific time (as entered with the Activation Value - Tag 10103) occurs. At this activation point, the order is released to the exchange.

An Activation Order is entered with the New Order Single (Tag 35=D) message. Following are the most relevant tags to build an At Time Activation Order.

Tag 10102=5	Activation Type	Specifier of At Time Activation Order
Tag 10103	Activation Value	Time at which to activate the order
Tag 48	SecurityID	Market for which the order is sent
Tag 55	Symbol	Contract for which the order is sent
Tag 207	SecurityExchange	Exchange for which the order is sent
Tag 167	SecurityType	Security Type (e.g. Futures) of this specific market

The format of the ActivationValue (Tag 10103) is: "Activation Time;Cancel Time"

Activation Time	Required. The time to activate the order. The time can be specified as either a full date time in the format "dd MMM yyyy HH:mm:ss" or as a number of seconds from the moment of order submittal.
Cancel Time	Optional. The time to cancel the order if the order is still working or not yet activated. The time can be specified as either a full date time in the format "dd MMM yyyy HH:mm:ss" or as a number of seconds from the moment of order submittal.

Examples for ActivationValue:

"05 Jul 2012 18:00:00" - activates the order at the specified time (all times are U.S. Central Time) as long as the market is in a pre-open, open or other mode that allows order submission. Using the datetime format of "dd MMM yyyy HH:mm:ss" is highly recommended.
"100" - activates the order after the specified number of seconds. In this case it is 100 seconds from now. At that time the order will be submitted as long as the market is in a mode that allows order submission.
"05 Jul 2012 18:00:00;05 Jul 2012 18:01:00" - activates the order at the specified time (all times are U.S. Central Time) as long as the market is in a pre-open, open or other mode that allows order submission. The second parameter specifies the time to cancel the order at if it has not completed. In this example the order will be cancelled one minute after it is activated.
"100;200" - activates the order after the specified number of seconds. In this case it is 100 seconds from now. At that time the order will be submitted as long as the market is in a mode that allows order submission. The second parameter specifies the time to cancel the order as a number of seconds from now. In this case it is 200 seconds from now so the order will be cancelled 100 seconds after is it activated.
"100;05 Jul 2012 18:00:00" - activates the order after the specified number of seconds. In this case it is 100 seconds from now. At that time the order will be submitted as long as the market is in a mode that allows order submission. The second parameter specifies the time to cancel the order.

Sample

In this example, the activation order is submitted, accepted by the T4 FIX API and awaits activation until the requested time (ActivationValue - Tag 10103). When the time of 18:00:00 (CST) on February 25, 2013 is reached, the order is submitted to the exchange as a market order.

Activation Order - At Time

>> 2/22/2013 5:59:44 PM   [FIXNEWORDER] 34=110|49=T4Example|56=T4|50=TraderName|52=20130222-23:59:44.425|1=Account1|11=fn-634971527844258954|48=CME_20130300_ESH3|55=ES|207=CME_Eq|54=1|38=1|40=1|59=0|167=FUT|21=1|60=20130222-23:59:44.425|204=0|10102=5|10103=25 Feb 2013 18:00:00|
[FIXNEWORDER]
[MsgSeqNum] 34 = 110
[SenderCompID] 49 = T4Example
[TargetCompID] 56 = T4
[SenderSubID] 50 = TraderName
[SendingTime] 52 = 20130222-23:59:44.425
[Account] 1 = Account1
[ClOrdID] 11 = fn-634971527844258954
[SecurityID] 48 = CME_20130300_ESH3
[Symbol] 55 = ES
[SecurityExchange] 207 = CME_Eq
[Side] 54 = 1 (BUY)
[OrderQty] 38 = 1
[OrdType] 40 = 1 (MARKET)
[TimeInForce] 59 = 0 (DAY)
[SecurityType] 167 = FUT (FUTURE)
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[TransactTime] 60 = 20130222-23:59:44.425
[CustomerOrFirm] 204 = 0 (CUSTOMER)
[ActivationType] 10102 = 5 (AT_OR_AFTER_TIME)
[ActivationValue] 10103 = 25 Feb 2013 18:00:00

Activation Order - Response Awaiting Activation

<< 2/22/2013 5:59:44 PM  [fixexecutionreport] 34=180|49=T4|56=T4Example|50=T4FIX|52=20130222-23:59:44.441|143=US,IL|1=Account1|11=fn-634971527844258954|17=0.634971527858612500.2.4.CD080161|150=9|37=CD080161-926A-44B2-8227-6FA6DF664F8E|39=9|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=1|58=Activation Pending: SubmissionRiskSuccess. Order Held|60=20130222-23:59:45.861|21=1|204=0|10102=5|10103=25 Feb 2013 18:00:00|
[FIXEXECUTIONREPORT]
[MsgSeqNum] 34 = 180
[SenderCompID] 49 = T4
[TargetCompID] 56 = T4Example
[SenderSubID] 50 = T4FIX
[SendingTime] 52 = 20130222-23:59:44.441
[TargetLocationID] 143 = US,IL
[Account] 1 = Account1
[ClOrdID] 11 = fn-634971527844258954
[ExecID] 17 = 0.634971527858612500.2.4.CD080161
[ExecType] 150 = 9 (SUSPENDED)
[OrderID] 37 = CD080161-926A-44B2-8227-6FA6DF664F8E
[OrdStatus] 39 = 9 (SUSPENDED)
[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 = 1 (MARKET)
[Text] 58 = Activation Pending: SubmissionRiskSuccess. Order Held
[TransactTime] 60 = 20130222-23:59:45.861
[HandlInst] 21 = 1 (AUTOMATED_EXECUTION_ORDER_PRIVATE_NO_BROKER_INTERVENTION)
[CustomerOrFirm] 204 = 0 (CUSTOMER)
[ActivationType] 10102 = 5 (AT_OR_AFTER_TIME)
[ActivationValue] 10103 = 25 Feb 2013 18:00:00

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