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New Order Single Message Fields

A New Order Single message is used to submit a single-leg order for both standard listed options and FLEX options. Complex orders must use the New Order Multileg Message Fields.

Table 1. New Order Single Message Fields
TagField NameReq’dDescription
35Standard Message HeaderYMsgType= D
97PossResendN
  • N=(Default) indicates a new order.
  • Y=Indicates an application level resend and is NOT SUPPORTED.
  • For reasons of economy, Cboe does not track in primary storage the ClOrdID values of orders that are no longer live.
  • For reasons of performance, Cboe does not access secondary storage to enforce unique ClOrdID values against orders that are no longer live.
  • Without full duplicate ClOrdID value enforcement, it is not possible to safely implement the full behavior specified in the FIX 4.2 Protocol for PossResend = Y.
  • To remain economical, fast and safe, all messages with PossResend = Y will be simply ignored.
1AccountN
  • Up to 16 characters in ASCII range 33-126 are allowed.
  • When clearing OCC, value is passed to clearing in the Customer ID field (max 10 characters). If the Send ClearingOptionalData FIX port attribute is set to 'No', the full 16 character value is also passed to clearing in the Optional Data field.
  • When clearing Cboe Clear U.S., value is passed in the Customer Account Number field.
11ClOrdIdY
  • ID chosen by client. 20 characters or less. Characters in ASCII range 33-126 are allowed, except for comma, semicolon, pipe, ‘at’ symbol (@) and double quotes.
  • A leading tilde (~) cannot be sent on any ClOrdId and will result in a reject. These are reserved for internal use by Cboe and could be received as a result of a system-generated ClOrdId.
  • If the ClOrdId matches a live order it will be rejected as duplicate ( unless PossResend=Y, see above).
  • Note: Cboe only enforces the uniqueness of ClOrdID values among currently live orders, which includes long-lived, persisting GTC/GTD orders. However it is strongly recommend Users maintain unique ClOrdID values.
60TransactTimeYTime the order was initiated/released. Required by FIX 4.2.
77OpenCloseY*
  • Indicates status of client position in the option.
  • O=Open
  • C=Close
  • N=None*
  • *Orders with OrderCapacity (47) = M or N will not be required to specify OpenClose on their orders or may optionally specify a value of ‘N’, unless the series is limited to closing only.
  • If the series is limited to closing only transactions, only OrderCapacity (47) = M will be permitted to submit OpenClose = O if the order has TimeInForce (59) = 3 (IOC) and RoutingInst (9303) = B, or the order has a RoutingInst = P.
  • An Open position cannot trade with an Open position for series limited to Closing Only transactions, even if the inbound IOC from the aggressing market maker is sent with that combination of tags.
167SecurityTypeY
  • Indicates the type of security
  • OPT=Options
200MaturityMonthN
  • Indicates Maturity Month
  • (YYYYMM)
205MaturityDayN
  • Expiration date day of the month
  • Format: DD
201PutOrCallN
  • 0=Put
  • 1=Call
202StrikePriceNStrike Price for option, 0 - 999,999.999
55SymbolYOSI root symbol (upper case) or Cboe format symbol (case sensitive)
54SideY
  • 1=Buy
  • 2=Sell
38OrderQtyYNumber of contracts for order, 1 to 999,999
111MaxFloorN
  • Portion of OrderQty to display. The balance is reserve.
  • 0=Display entire quantity (Default).
  • The displayed quantity of each order at a price level is decremented first. When displayed quantity is fully decremented, it is reloaded up to MaxFloor from reserve.
  • Ignored if order is IOC.
  • An order with a MaxFloor greater than 0 will be rejected for Cboe proprietary classes (such as DJX, RUT, SPX, XSP, and VIX).
8020DisplayRangeN
  • Used for random replenishment of reserve orders. This is the random replenishment amount in contracts. The value specified will create a DisplayRange around MaxFloor. Value must be less than the value specified for MaxFloor.
  • Example
  • If MaxFloor = 20 and DisplayRange = 2, the displayed quantity will be selected randomly from one of the following values: 18, 19, 20, 21, 22.
40OrdTypeY
  • 1=Market
  • 2=Limit
  • 3=Stop
  • 4 = Stop Limit
  • Stop/Stop Limit orders must be set to TimeInForce (59) = 0 (DAY), 1 (GTC), or 6 (GTD). Note market and stop/stop limit orders are not supported during GTH or Curb sessions.
44PriceN
  • If PriceType (423) = 0
  • Limit price of cabinet order
  • $0.0001 - $0.01
  • If PriceType (423) = 1
  • Traded as percentage (FLEX Only)
  • -999,999.99% to 999,999.99%
  • If PriceType (423) = 2 or D
  • Limit price for this order. Order rejected if priced finer than the minimum trading increment for the option. Numeric $0.01 - $999,999.99.
99StopPxNThe trigger price for Stop and Stop Limit orders. Required if OrdType (40) = 3 or 4. Stop and Stop Limit orders will trigger off bids and offers in addition to executions. Complex executions outside of the NBBO will not trigger Stop and Stop Limit Orders. Stop/Stop Limit orders will only elect based off of RTH quotes and trades.
110MinQtyN
  • Optional minimum* fill quantity for Book-Only IOC orders.
  • Ignored unless order is Book-Only IOC.
  • Default is zero.
  • *When removing liquidity, limits the minimum total fill size, which may be made up of several consecutive smaller fills.
  • Not compatible with Step-Up Mechanism (SUM).
47Rule80A (OrderCapacity)Y
  • The capacity for the order.
  • C=Customer
  • F=Firm
  • M=Market Maker
  • U=Professional Customer
  • N=Away Market Maker
  • B=Broker-Dealer
  • J=Joint Back Office
  • L=Non-TPH Affiliate(C1 and C2 only)
59TimeInForceN
  • 0=DAY (Default). Expires at end of market day.
  • 1=GTC. Remains in system until executed, cancelled or option expires.
  • 2=At The Open. Will remain queued and only interact in the Opening Process
  • 3=IOC. Portion not filled immediately is cancelled. Market orders are implicitly IOC.
  • 4=FOK. An IOC where the entire size must be filled, otherwise the order will be cancelled back. Not compatible with Step-Up Mechanism (SUM).
  • 6=GTD. Expires at specified ExpireTime for a specified day.
  • 7=At The Close. Orders held for execution until 180 seconds before series is scheduled to close.
22017
  • SessionEligibility
  • (C1 only)
N
  • R=(Default) Order participates in Regular Trading Hours only.
  • A= Order participates in both Global and Regular Trading Hours. Also allows for participation in Curb Trading Session.
  • B=Order participates in both Regular Trading Hours and Curb Session.
126ExpireTimeNRequired for TimeInForce (59) = 6 (GTD) orders, specifies the date-time (in GMT) that the order expires. Values may be specified at a millisecond level.
18ExecInstN
  • Single value only (with no trailing space)
  • 1=Not held. Must be routed to the floor.(C1 only)2
  • f=Intermarket Sweep (Directed or Book Only)2
  • r=Settlement Liquidity1,2(C1 only)
  • G=All or None (AON)(C1 and EDGX only)
  • 1requires TimeInForce (59) = 2 and Price (44)
  • 2Not compatible with Step-Up Mechanism (SUM)
7692RiskResetN
  • For use by Users using Cboe’s Risk Management tools to reset or release EFID Group, EFID, Risk Root, or Custom Group ID-level lockout conditions resulting from risk profile trips or self-imposed lockouts issued via Cancel Order or Purge Orders messages.
  • Single Character Values - with counter reset:
  • S=Risk Root-level risk/lockout reset
  • F=EFID risk/lockout reset
  • C=CustomGroupID lockout reset
  • G=EFID Group risk/lockout reset
  • Single Character Values - without counter reset :
  • T=Risk Root-level self-imposed lockout reset
  • E=EFID self-imposed lockout reset
  • Values may be combined together to allow for resets of multiple risk trips or self-imposed lockouts in a single message. For example, ‘GS’, ‘SC’, ‘FC, and ‘SFC’ are all acceptable values.
  • The single character values with no counter reset will release a self-imposed lockout condition only without resetting any counters related to active risk rules. This may be useful for time based risk rules where the lockout may be released without resetting any risk values being tracked back to zero. If a conflicting value is provided the lockout release with counter reset will take precedence. For example, ‘ST’ will release any lockout and reset any applicable root-level rule counters to zero.
  • When a resting or inbound order is executed and a Risk Root-level risk profile limit is reached, resting orders on the associated Risk Root will be cancelled and inbound orders on the Risk Root will be rejected until this field is filled with the value ‘S’ on a subsequent New Order or New Complex Order message corresponding to a symbol on the same Risk Root. All active Risk Root level rules in the risk profile are reset at this time. Individual rules cannot be reset on their own.
  • If an EFID-level rule is tripped, this tag can be filled with the value ‘F’ to reset all EFID-level rules. While this will reset EFID-level rules, it is possible that both EFID and Risk Root level rules are currently tripped. Setting this field to ‘F’ will not clear Risk Root-level rules and the order may still be rejected. To clear both Risk Root and EFID-level rules, set this field to "SF" to reset all associated Risk Root and EFID-level lockouts.
  • If orders have been locked out at the Custom Group ID level, inbound orders for the locked Custom Group ID will be rejected until this field is filled with the value ‘C’ on a New Order or New Complex message order that uses the locked Custom Group ID.
  • EFID and EFID Group resets are not allowed by default. Customers should contact the Cboe Trade Desk to reset these limits or request a change to the EFID Risk Reset port setting using the Logical Port Request form.
  • If a risk limit is tripped or manually locked out at the end of the RTH session, the trip/lockout will persist into the Curb session (C1 only).
  • For more information, see the Cboe Titanium U.S. Options Risk Management Specification.
7928PreventMatchN
  • Three characters:
  • 1st character - MTP Modifier:
  • N=Cancel Newest
  • O=Cancel Oldest
  • B=Cancel Both
  • S=Cancel Smallest
  • D=Decrement Larger / Cancel Smaller
  • d=Same as D above, but only decrement LeavesQty. Do not restate OrderQty.
  • 2nd character - Unique ID Level:
  • F=Prevent Match at Firm (Member) Level
  • M=Prevent Match at EFID Level
  • 3rd character - Trading Group ID (optional):
  • User specified alphanumeric value 0-9, A-Z, or a-z.
  • The Unique ID level (2nd character) of both orders must match to prevent a trade. If specified on both orders, Trading Group ID (3rd character) must match to prevent a trade.
  • The MTP Modifier (1st character) of the inbound order will be honored, except that if the inbound order specifies Decrement and the resting order does not, and the resting order is larger, then both orders will be cancelled. This exception is to protect the order entry software for the resting order from receiving an unexpected restatement message.
  • If order entry software is prepared to handle unexpected restatement messages, this exception may be overridden at the port level by requesting Allow MTP Decrement Override functionality.
  • Uses of MTP Modifier ‘D’ or ‘d’ and users of Allow MTP Decrement Override functionality must be prepared to receive an Order Restated message that decrements LeavesQty (and, for method ‘D’, OrdQty as well).
9303RoutingInstN
  • 1st character
  • B=Book Only (Not routable but will remove from local book)
  • P=Post Only (Not routable)1
  • R=(Default) Routable
  • S=Super Aggressive - Cross or Lock (Order will be removed from book and routed to any quote that is crossing or locking the order)
  • X=Aggressive - Cross only (Order will be removed from book and routed to any quote that is crossing)
  • 2nd character (C1, C2, and EDGX Only)
  • L=Do not Expose order via Step-Up Mechanism (SUM)
  • S=(Default) Expose order via Step-Up Mechanism (SUM)2
  • 1Post Only orders with DisplayIndicator (9479) = R will be cancelled back even if they would be immediately executable with price improvement (C1, C2, and EDGX Only).
  • 2 Marketable, routable orders identified as RoutingInst (9303) = R, RS, S, SS, X or XS and RoutStrategy (9400) = ROUT and AuctionID (9370) not supplied or marketable non-routable orders identified as RoutingInst (9303) = BS and ExecInst (18) not ‘f’ and TimeInForce (59) not ‘4’ and MinQty (110) not supplied will be eligible to initiate a Step-Up Mechanism (SUM) auction before routing, posting to book with Price Adjust or cancelling off book.
9350RoutDeliveryMethodN
  • RTI=(Default) Route to Improve
  • RTF=Route to Fill
  • Route to Improve: Ability to receive price improvement will take priority over speed of execution.
  • Route to Fill: Speed of execution will take priority over potential price improvement.
  • Only applicable to RoutStrategy = ROUT.
9400RoutStrategyN
  • ROUT=Book + Street
  • DIRC=Book + Directed IOC or Directed ISO if ExecInst = f1
  • SWPA=Book + Sweep Street (Default)
  • 1 Must be specified when sending a non-Book Only ISO 9303=R, 18=f, otherwise the order will be rejected.
100ExDestinationN
  • Used to specify the designated away venue for RoutStrategy (9400) = DIRC.
  • A=NYSE Arca
  • E=Nasdaq ISE
  • F=MIAX Options Exchange
  • P=MIAX PEARL
  • D=MIAX Emerald
  • G=EDGX Options
  • H=C2
  • I=IEX Options
  • J=MX2 Options
  • K=BOX
  • M=MEMX
  • N=Nasdaq
  • S=Nasdaq Texas
  • U=NYSE American
  • W=CBOE
  • X=Nasdaq PHLX
  • Z=BZX Options
  • g=Nasdaq GEMX
  • m=Nasdaq MRX
  • w=MIAX Sapphire
9479DisplayIndicatorN
  • V=(Default) As determined by port level setting (defaults to "S" for BZX only and to "P" for C1, C2, and EDGX).
  • S=Display-Price Sliding (this is to override an opt-out of Display-Price Sliding at the port level).(BZX only)
  • L=Display-Price Sliding, but reject if order crosses NBBO on entry.(BZX only)
  • M=Multiple Display-Price Sliding(BZX only)
  • P=Price Adjust
  • m=Multiple Price Adjust
  • R=Reject the order if it cannot be booked and displayed without adjustment.
  • N=NoRescrapeAtLimit(BZX only)
  • See Display Indicator Features for more details on sliding options.
439ClearingFirmN
  • CMTA Number of the firm that will clear the trade.
  • Must be supplied for CMTA orders and left unspecified for non-CMTA orders.
440ClearingAccountN
  • When OrderCapacity (47) is set to a value of ‘M’ or ‘N’ this field should be filled with desired market maker ID.
  • When OrderCapacity (47) is set to a value of ‘M’ any unregistered Market Maker ID in this field will cause the quote or order to be rejected with a reason code of ‘A’ and sub-reason code ‘L’ .
  • When using CMTA, this value is the Market Maker ID for the CMTA member instead of the Cboe member executing the trade.
  • When FIX Port Attribute Reject Non-Market Maker With Clearing Account is set to 'Yes' (C1 and C2 only) orders with OrderCapacity (47) other than 'M' and 'N' with a specified value for ClearingAccount (440) will be rejected.
  • Field value is reflected on Execution Reports including FIX Drop.
9732AttributedQuoteN
  • Allow for order to be attributed to firm’s EFID in Cboe market data feeds. The order may also be included within attributed summary information displays related to quote/trade information on the Cboe web site. Must opt-in to support through the Cboe Trade Desk.
  • N=(Default) Do not attribute firm Executing Firm ID to this order.
  • Y=Attribute firm Executing Firm ID to this order.
  • C=Attribute ClientID (109) only.
  • Z=Attribute both EFID (115) and ClientID (109).
109ClientIDN
  • User defined identifier for quote attribution.
  • Four alpha characters or less.
9324ClearingOptionalDataN
  • Up to 16 characters in ASCII range 33-126 are allowed, except for comma, semicolon and pipe characters. Value will be reflected back on Execution Reports including FIX Drop.
  • FIX Port attribute Send ClearingOptionalData set to 'Yes' is required to pass value to clearing.
1462
  • TargetPartyID
  • (C1 and EDGX only)
NA valid ParentID of the Directed Market Maker (EDGX only) or Preferred Market Maker (C1 only) is required for Directed Orders.
9370
  • AuctionID
  • (C1, C2 and EDGX only)
NAuction order identifier supplied by Cboe. This identifier corresponds to the identifiers used in Cboe market data products.
7933RoutingFirmIDN
  • Used to optionally convey the routing firm of the order.
  • If supplied, value must be a valid EFID .
7699CustomGroupIDN
21097
  • FrequentTraderID
  • (C1 only)
N
  • Identifies the frequent trader program in which the order is participating.
  • Six alphanumeric characters or less (0-9, A-Z, or a-z).
22003
  • ORS
  • (C1 only)
N
  • Order router subsidy eligible (used for billing purposes).
  • N=No (Default)
  • Y=Yes
22006
  • Compression
  • (C1 only)
N
  • Order is a compression trade.
  • N=No (Default)
  • Y=Yes
22303
  • FloorRoutingInst
  • (C1 only)
N
  • D=Direct. Do not attempt to process electronically1
  • E=Electronic only (default)
  • X=Route to floor if unable to process electronically1
  • <blank> = Port level default
  • The default value for any given port can be changed by requesting an update to the Default FloorRoutingInst port attribute.
  • 1 When FloorRoutingInst is D or X, RoutingInst (9303) must be set to B or R for simple orders; or B for FLEX instruments.
22100
  • FloorDestination
  • (C1 only)
N
  • Floor route destination. Specifies a PAR workstation (ex. W001), or "PARO" to route to the Floor PAR Official of the underlying symbol.
  • 4 characters or less (ASCII 33-126).
423
  • PriceType
  • (C1 only)
N
  • 0=Fixed cabinet trade price
  • 1=Percentage (when trading FLEX percentage instruments)
  • 2=(default) Price per unit (contract)
  • D=FLEX DAC
9465
  • OrderOrigin
  • (C1 only)
NFloor acronym of Market Maker on whose behalf this order is being entered by a floor broker.
20012
  • Held
  • (C1 only)
N
  • Y=Mark order as Held
  • N=Mark order as Not Held
  • Default value is ‘N’ if the order is direct routed to a Non-PAR Official on the floor.
21010
  • FLEXAuctionDuration
  • (C1 only)
N
  • Duration of the FLEX Auction in milliseconds. The minimum valid value is 3,000 milliseconds. The maximum valid value is 300,000 milliseconds.
  • Applicable only to FLEX instruments.
21005
  • FLEXHedgeExecInst
  • (C1 only)
N
  • Hedge execution instruction to carry the hedge information for the order.
  • Applicable only the FLEX instruments.
21008
  • FLEXPreFacilPrice
  • (C1 only)
N
  • The pre-facilitation price for the hedge instruction.
  • Applicable only to FLEX instruments.
22021
  • TerminalOperatorId
  • (C1 only)
N
  • The ID associated with the operator logged into the terminal when an order is entered.
  • 20 characters or less (ASCII 32-126).
  • This field is recorded and returned in execution reports. Available via FIX Drop and Odrop.
22022
  • AdditionalClientInfo
  • (C1 only)
N
  • Client information populated by the Member during order entry via terminal.
  • 16 characters or less (ASCII 32-126).
  • This field is recorded and returned in execution reports. Available via FIX Drop and Odrop.
22023
  • Delta
  • (C1 only)
N
  • Designated delta of a FLEX DAC order.
  • Valid values for call options are 0.0001 to 1.0000.
  • Valid values for put options are -1.0000 to -0.0001.
22025
  • ReferencePrice
  • (C1 only)
N
  • Reference price for underlying security or index of a FLEX DAC order.
  • If a reference price is not specified, the system applies the current value of the underlying at the time of order entry.
Standard Message TrailerY
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