FIX Trading Specificationfor Bonds
Version 1.2
Updated 1 April 2020

Table of Contents
Introduction ........................................................................................................................................................ 3
Overview ............................................................................................................................................................ 3
Service Configuration......................................................................................................................................... 3
Fault Redundancy ............................................................................................................................................... 3
FIX Protocol ....................................................................................................................................................... 3
Data Types and Required Fields .................................................................................................................... 3
Limitations .................................................................................................................................................... 4
Order and Trade Identifiers ........................................................................................................................... 4
Client Order ID ........................................................................................................................................ 4
Order ID ................................................................................................................................................... 4
Trade Match ID ........................................................................................................................................ 4
Execution ID ............................................................................................................................................ 4
FIX Session Management................................................................................................................................... 5
FIX Messages ..................................................................................................................................................... 5Standard Header – Incoming Messages ........................................................................................................ 5Standard Header – Outgoing Messages......................................................................................................... 5Standard Trailer ............................................................................................................................................. 6
Administrative Messages .............................................................................................................................. 6
Logon ....................................................................................................................................................... 6
Heartbeat .................................................................................................................................................. 6
Test Request ............................................................................................................................................. 7
Resend Request ........................................................................................................................................ 7
Reject ....................................................................................................................................................... 7
Sequence Reset......................................................................................................................................... 7
Logout ...................................................................................................................................................... 8
Application Messages ................................................................................................................................... 8
New Order Single..................................................................................................................................... 8
Execution Report – Order Rejected ......................................................................................................... 9
Execution Report – Order Accepted....................................................................................................... 10
Execution Report – Order Status............................................................................................................ 11
Order Cancel Request ............................................................................................................................ 13
Order Cancel Reject ............................................................................................................................... 13
Execution Report – Order Canceled....................................................................................................... 14
Order Cancel Replace Request............................................................................................................... 15
Order Cancel Replace Reject ................................................................................................................. 16
Execution Report – Order Replaced....................................................................................................... 16
Execution Report – Trade....................................................................................................................... 17
Business Message Reject ....................................................................................................................... 19
Trading Session Status ........................................................................................................................... 19
Revision History ............................................................................................................................................... 20

FIX Trading Specification for Bonds

1.

2020-04-01

Introduction

This document explains access to the bonds trading services of Japannext PTS via the FIX protocol. It
describes the service's configuration and specifies the administrative and application messages. For further
information and inquiries regarding trading services or for questions concerning connectivity please contact
Japannext PTS Technical Support via email to: ito@japannext.co.jp.

2.

Overview

FIX is an industry standard protocol widely used across financial institutions to implement electronic
exchange of securities transactions. By using the FIX protocol, clients are able to access different markets
and liquidity pools operated by Japannext PTS. They can enter new orders, modify or cancel existing orders,
and receive execution reports in real-time.
The TCP/IP protocol is used for the point-to-point transport layer.

3.

Service Configuration

Access to the Japannext PTS bonds trading services can be configured to accept and maintain multiple FIX
sessions per client. However only one active connection is allowed for each particular FIX session.
Every FIX session is subject to a throttling rate limit of 500 messages per second.
The Cancel on Disconnect feature can be activated by request for any client's FIX session. If Cancel on
Disconnect is active, all open orders created over the FIX session that is subsequently disconnected due toany reason will be automatically withdrawn. For every withdrawn order an unsolicited cancellation message
will be sent to the client upon connection re-establishment. Cancel on Disconnect is performed on a best
effort basis.

4.

Fault Redundancy

Japannext PTS provides a single point of connection per FIX session. A robust FIX client application must
maintain sequence numbers as defined by the FIX protocol across all instances. In case of connectivity
failure, connection must be re-established to the same destination. A timeout of at least one second isrequired between re-connection attempts. Japannext PTS takes care of IP address migration during service
fail-over on its side.

5.

FIX Protocol

The messaging described in this specification complies with the standard FIX 4.2 protocol. For details pleaserefer to http://www.fixprotocol.org/specifications/FIX.4.2.
This specification follows the standard FIX specification as much as possible. However in limited cases
fields and field values have been extended by backporting from the FIX 4.4 specification.

5.1 Data Types and Required Fields
Field data types in this specification are the same as those defined in the standard FIX specification.
However, in certain places this specification further restricts field values from those specified in the standard.
All field values will be stated in the message specification details.
Fields that are marked as required in the standard FIX specification are also required in this specification,
denoted 'Y' in the message definitions. Exceptions to this are marked as not required, denoted 'N'. Additional
required fields of this specification over the standard are denoted 'R'.

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5.2 Limitations
This specification applies limitations on particular field lengths.
Tag

Field Name

Data Type

Comments

1

Account

StringLimited to 10 characters.

6

AvgPx

Price

Limited to 6 whole number digits and 6 decimal places.

11

ClOrdID

StringLimited to 32 characters.

14

CumQtyQty

Limited to 9 whole number digits.

17

ExecID

StringLimited to 20 characters.

31

LastPxPrice

Limited to 6 whole number digits and 3 decimal places.

32

LastShares

Qty

Limited to 9 whole number digits.

37

OrderID

StringLimited to 20 characters.

38

OrderQty

Qty

Limited to 9 whole number digits.

41

OrigClOrdID

StringLimited to 32 characters.

44

Price

Price

Limited to 6 whole number digits and 3 decimal places.

50

SenderSubID

StringLimited to 30 characters for incoming messages and 4 characters for outgoingmessages.

55

SymbolStringLimited to 9 digits.

57

TargetSubID

StringLimited to 4 characters for incoming messages and 30 characters for outgoingmessages.

109

ClientID

StringLimited to 9 digits.

110

MinQtyQty

Limited to 9 whole number digits.

151

LeavesQty

Qty

Limited to 9 whole number digits.

336

TradingSessionID

StringLimited to 20 characters.

375

ContraBroker

StringLimited to 12 characters.

880

TrdMatchID

StringLimited to 20 characters.

5.3 Order and Trade Identifiers
5.3.1 Client Order ID
ClOrdID validation for uniqueness is not guaranteed. Duplication with open orders will be checked. Clientsshould comply with the FIX protocol and ensure uniqueness of ClOrdIDs across all their messages.

5.3.2 Order ID
OrderID is set to the unique reference number assigned to the order by the trading system. Since this number
may be revisited by the system during an order's lifetime, an order's OrderID may change however it will
still be unique.

5.3.3 Trade Match ID
TrdMatchID is set to the unique reference number assigned to the trade by the trading system.

5.3.4 Execution ID
ExecID uniqueness is only guaranteed per individual FIX session.

4

FIX Trading Specification for Bonds

6.

2020-04-01

FIX Session Management

FIX sessions are uniquely defined by the SenderCompID and TargetCompID. Any attempt to establish an
additional FIX session using the same SenderCompID and TargetCompID will be rejected.
At logon, clients are identified by their SenderCompID.
Clients are required to log on to the service using the logon message. Once logged on, clients will need tosend heartbeat messages to keep the session active.
In case of connection loss clients are required to again log on using the next transmitted sequence numbers
while also taking care of any potential message loss in a FIX protocol compliant manner.
IP addresses, port numbers and CompIDs are issued upon application completion.

7.

FIX Messages

7.1 Standard Header – Incoming Messages
Tag

Field Name

Data Type Req’d

Comments

8

BeginString

StringY

Identifies beginning of new message and protocol version. Always first
field in message. Value is FIX.4.2.

9

BodyLengthintY

Message length, in bytes, forward to the CheckSum (10) field. Always
second field in message.

35

MsgType

StringY

Defines message type. Always third field in message.

34

MsgSeqNum

int

Y

Integer message sequence number.

43

PossDupFlag

Boolean49

SenderCompID

String50

SenderSubID

StringAssigned value used to identify specific message originator.

52

SendingTimeUTC
YTimestamp

Time of message transmission (always expressed in UTC).

56

TargetCompID

StringUsed to identify receiving firm. As assigned by Japannext PTS.

57

TargetSubID

StringAssigned value used to identify specific individual or unit intended toreceive message. If this field is omitted, the default value for the session
will be used.
Values:DJGB = JGB Market

97

PossResend

BooleanIndicates that message may contain information that has been sent underanother sequence number.
Values:Y = Possible resend
N = Original transmission

115

OnBehalfOfCompID

StringUsed to identify firm originating message if the message was delivered by athird party i.e. the third party firm identifier would be delivered in the
SenderCompID (49) field. As assigned by Japannext PTS.

122

OrigSendingTime

UTCTimestamp

Original time of message transmission (always expressed in UTC).

Indicates possible retransmission of message with this sequence number.
Values:Y = Possible duplicate
N = Original transmission
Y

Y

Used to identify firm sending message. As assigned by Japannext PTS.

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7.2 Standard Header – Outgoing Messages
Tag

Field Name

Data Type Req’d

Comments

8

BeginString

StringY

Identifies beginning of new message and protocol version. Always first
field in message. Value is FIX.4.2.

9

BodyLengthintY

Message length, in bytes, forward to the CheckSum (10) field. Always
second field in message.

35

MsgType

StringY

Defines message type. Always third field in message.

34

MsgSeqNum

int

Y

Integer message sequence number.

49

SenderCompID

StringY

Used to identify firm sending message. As assigned by Japannext PTS.

50

SenderSubID

StringAssigned value used to identify specific message originator.
Values:DJGB = JGB Market

52

SendingTimeUTC
YTimestamp

Time of message transmission (always expressed in UTC).

56

TargetCompID

StringUsed to identify receiving firm. As assigned by Japannext PTS.

57

TargetSubID

StringAssigned value used to identify specific individual or unit intended toreceive message.

122

OrigSendingTime

UTCTimestamp

Original time of message transmission (always expressed in UTC).

128

DeliverToCompID

StringUsed to identify the firm targeted to receive the message if the message isdelivered by a third party i.e. the third party firm identifier would bedelivered in the TargetCompID field. As assigned by Japannext PTS.

Y

7.3 Standard Trailer
Tag
10

Field Name
CheckSum

Data Type Req’d
StringY

Comments
Three byte, simple checksum. Always defined as three characters. Always
last field in message.

7.4 Administrative Messages
7.4.1 Logon
Tag

Field Name

Data Type Req’d

Standard header

Comments
MsgType (35) = A

98

EncryptMethod

intY

Method of encryption. Not supported.
Values:0 = None / other108

HeartBtInt

int

YHeartbeat interval (seconds). Recommended value is 30 seconds.

141

ResetSeqNumFlag

BooleanIndicates that both sides of the FIX session should reset sequence numbers.
Values:Y = Yes, reset sequence numbers
N = NoStandard trailer

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FIX Trading Specification for Bonds

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7.4.2 Heartbeat
Tag

Field Name

Data Type Req’d

Standard header
112

TestReqID

Comments
MsgType (35) = 0

StringRequired when the heartbeat is the result of a Test Request message.

Standard trailer

7.4.3 Test Request
Tag

Field Name

Data Type Req’d

Standard header
112

TestReqID

Comments
MsgType (35) = 1

StringY

Identifier to be returned in resulting Heartbeat.

Standard trailer

7.4.4 Resend Request
Tag

Field Name

Data Type Req’d

Standard header

Comments
MsgType (35) = 2

7

BeginSeqNo

int

Y

Message sequence number of first message in range to be resent.

16

EndSeqNo

int

Y

Message sequence number of last message in range to be resent.

Standard trailer

7.4.5 Reject
Tag

Field Name

Data Type Req’d

Standard header

Comments
MsgType (35) = 3

45

RefSeqNum

int

Y

58

Text

StringMessage explaining reject reason.

371

RefTagIDint

The tag number of the FIX field being referenced.

372

RefMsgType

String

The MsgType (35) of the FIX message being referenced.

373

SessionRejectReason

int

Code to identify reason for a session-level Reject message.
Values:0 = Invalid tag number
1 = Required tag missing
2 = Tag not defined for this message type
3 = Undefined tag
4 = Tag specified without a value
5 = Value is incorrect (out of range) for this tag
6 = Incorrect data format for value
9 = CompID problem
10 = SendingTime (52) accuracy problem
11 = Invalid MsgType (35)

MsgSeqNum (34) of rejected message

Standard trailer

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FIX Trading Specification for Bonds

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7.4.6 Sequence Reset
Tag

Field Name

Data Type Req’d

Standard header

Comments
MsgType (35) = 4

36

NewSeqNo

int

123

GapFillFlag

BooleanY

New sequence number.
Indicates replacing administrative or application messages which will not be
resent.
Values:Y = Gap Fill message, MsgSeqNum (34) field valid
N = Sequence Reset, ignore MsgSeqNum (34)Standard trailer

7.4.7 Logout
Tag

Field Name

Data Type Req’d

Standard header
58

Text

Comments
MsgType (35) = 5

StringMessage explaining logout reason.

Standard trailer

7.5 Application Messages
7.5.1 New Order Single
Tag

Field Name

Data Type Req’d

Standard header - Incoming

Comments
MsgType (35) = D

1

Account

StringAccount mnemonic as assigned by the institution.

11

ClOrdID

String18

ExecInst

Multiple
ValueString

21

HandlInstchar

N

Instructions for order handling on Broker trading floor.
Values:1 = Automated execution order, private, no Broker intervention

38

OrderQty

Qty

R

Quantity ordered.

40

OrdTypechar

YOrder type.
Values:2 = Limit

44

Price

Price

R

Yield per bond. Required for limit orders, OrdType (40) = 2 (Limit).

47

Rule80A

char

54

Side

char

Y

Unique identifier for the order as assigned by the institution.
Instructions for order handling on exchange trading floor. If more than one
instruction is applicable to an order, this field can contain multiple
instructions separated by space.
6 = Participate don't initiate (post-only)x = Ignore notional value checks

Designates the capacity of the firm placing the order. Absence of this field
is interpreted as Principal.
Values:A = Agency
P = Principal
Y

Side of order.
Values:1 = Buy
2 = Sell8FIX Trading Specification for Bonds
Tag

Field Name

Data Type Req’d
Y

2020-04-01

Comments

55

SymbolString59

TimeInForcechar

Specifies how long the order remains in effect. Absence of this field isinterpreted as Day.
Values:0 = Day
3 = Immediate or Cancel (IOC)4 = Fill or Kill (FOK)

60

TransactTimeUTC
YTimestamp

Time this order request was initiated.

109

ClientID

StringFirm identifier for the order entry firm. This field should be omitted unlessspecifying a client's MPID.

110

MinQtyQty

Minimum quantity of an order to be executed. Only to be used inconjunction with TimeInForce (59) = 3 (Immediate or Cancel).

423

PriceTypeint

R

Ticker symbol.
Value is the bond code per SICC definition.

Code to represent the price type.
Values:
9 = Yield

Standard trailer

7.5.2 Execution Report – Order Rejected
Tag

Field Name

Data Type Req’d

Standard header - Outgoing

Comments
MsgType (35) = 8

1

Account

StringAccount mnemonic as assigned by the institution.

6

AvgPx

Price

Y

Calculated average yield of all fills on this order.

11

ClOrdID

StringR

Unique identifier for the order as assigned by the institution.

14

CumQtyQty

Y

Total number of bonds filled.

17

ExecID

StringY

Unique identifier of execution message as assigned by Japannext PTS.

20

ExecTransType

char

Y

Identifies transaction type.
Values:0 = New

37

OrderID

StringY

Unique identifier for order as assigned by Japannext PTS.
Value is NONE if OrdRejReason (103) ≠ 6 (Duplicate Order).

38

OrderQty

Qty

R

Quantity ordered.

39

OrdStatuscharY

Identifies current status of this order.
Values:0 = New
1 = Partially filled
2 = Filled
4 = Canceled
5 = Replaced
6 = Pending Cancel
8 = Rejected
A = Pending New
E = Pending Replace

40

OrdTypechar

ROrder type.
Values:2 = Limit

44

Price

Price

R

Yield per bond entered.

9FIX Trading Specification for Bonds
Tag

Field Name

Data Type Req’d

2020-04-01

Comments

47

Rule80A

char

R

Designates the capacity of the firm placing the order.
Values:A = Agency
P = Principal

54

Side

char

Y

Side of order.
Values:1 = Buy
2 = Sell

55

SymbolStringY

Ticker symbol.
Value is the bond code per SICC definition.

58

Text

String59

TimeInForce

char

R

Specifies how long the order remains in effect.
Values:0 = Day
3 = Immediate or Cancel (IOC)4 = Fill or Kill (FOK)103

OrdRejReason

int

R

Code to identify reason for order rejection.
Values:0 = Broker / Exchange option
1 = Unknown symbol
2 = Exchange closed
3 = Order exceeds limit
6 = Duplicate Order (e.g. duplicate ClOrdID (11))
8 = Stale order
11 = Unsupported order characteristic
12 = Surveillance Option
13 = Incorrect quantity
16 = Price exceeds current price band
99 = Other

109

ClientID

StringFirm identifier for the order entry firm if specified.

110

MinQtyQty

Minimum quantity of an order to be executed.

150

ExecTypechar

Y

Describes the specific Execution Report.
Values:8 = Rejected151

LeavesQty

Qty

YAmount of bonds open for further execution.

423

PriceTypeint

R

Code to represent the price type.
Values:
9 = Yield

Message explaining reject reason.

Standard trailer

7.5.3 Execution Report – Order Accepted
Tag

Field Name

Data Type Req’d

Standard header - Outgoing

Comments
MsgType (35) = 8

1

Account

StringAccount mnemonic as assigned by the institution.

6

AvgPx

Price

Y

Calculated average price of all fills on this order.
Value is 0.

11

ClOrdID

StringR

Unique identifier for the order as assigned by the institution.

14

CumQtyQty

Y

Total number of bonds filled.
Value is 0.

17

ExecID

StringY

Unique identifier of execution message as assigned by Japannext PTS.

10

FIX Trading Specification for Bonds
Tag

Field Name

Data Type Req’d

Comments

20

ExecTransType

char

Y

Identifies transaction type.
Values:0 = New

37

OrderID

StringY

Unique identifier for order as assigned by Japannext PTS.

38

OrderQty

Qty

R

Quantity accepted.

39

OrdStatuscharY

Identifies current status of this order.
Values:0 = New

40

OrdTypechar

ROrder type.
Values:2 = Limit

44

Price

Price

R

Price per bond accepted.

47

Rule80A

char

R

Designates the capacity of the firm placing the order.
Values:A = Agency
P = Principal

54

Side

char

Y

Side of order.
Values:1 = Buy
2 = Sell

55

SymbolStringY

Ticker symbol.
Value is the bond code per SICC definition.

59

TimeInForce

char

R

Specifies how long the order remains in effect.
Values:0 = Day
3 = Immediate or Cancel (IOC)4 = Fill or Kill (FOK)

60

TransactTime

UTC
R
Timestamp

Time the transaction represented by this message occurred.

109

ClientID

StringFirm identifier for the order entry firm if specified.

110

MinQtyQty

Minimum quantity of an order to be executed.

150

ExecTypechar

Y

Describes the specific Execution Report.
Values:0 = New

151

LeavesQty

Qty

YAmount of bonds open for further execution.
Value is the same as that of OrderQty (38).

423

PriceTypeint

R

Code to represent the price type.
Values:
9 = Yield

Standard trailer

7.5.4 Execution Report – Order Status
Tag

Field Name

Data Type Req’d

Standard header - Outgoing

Comments
MsgType (35) = 8

1

Account

StringAccount mnemonic as assigned by the institution.

6

AvgPx

Price

Y

Calculated average yield of all fills on this order.

11

ClOrdID

StringR

Unique identifier for the order as assigned by the institution.

14

CumQtyQty

Y

Total number of bonds filled.

11

2020-04-01

FIX Trading Specification for Bonds
Tag

Field Name

Data Type Req’d

2020-04-01

Comments

17

ExecID

StringY

Unique identifier of execution message as assigned by Japannext PTS.

20

ExecTransType

char

Y

Identifies transaction type.
Values:3 = Status

37

OrderID

StringY

Unique identifier for order as assigned by Japannext PTS.

38

OrderQty

Qty

R

Quantity accepted.

39

OrdStatuscharY

Identifies current status of this order.
Values:0 = New
1 = Partially filled
2 = Filled
4 = Canceled
5 = Replaced
6 = Pending Cancel
8 = Rejected
A = Pending New
E = Pending Replace

40

OrdTypechar

ROrder type.
Values:2 = Limit

44

Price

Price

R

Price per bond accepted.

47

Rule80A

char

R

Designates the capacity of the firm placing the order.
Values:A = Agency
P = Principal

54

Side

char

Y

Side of order.
Values:1 = Buy
2 = Sell

55

SymbolStringY

Ticker symbol.
Value is the bond code per SICC definition.

59

TimeInForce

char

R

Specifies how long the order remains in effect.
Values:0 = Day
3 = Immediate or Cancel (IOC)4 = Fill or Kill (FOK)109

ClientID110

MinQtyQty

150

ExecTypechar

Y

Describes the specific Execution Report.
Values:I = Order Status

151

LeavesQty

Qty

YAmount of bonds open for further execution.

423

PriceTypeint

R

Code to represent the price type.
Values:
9 = Yield

Firm identifier for the order entry firm if specified.
Minimum quantity of an order to be executed.

Standard trailer

7.5.5 Order Cancel Request
Tag

Field Name

Standard header - Incoming

Data Type Req’d

Comments
MsgType (35) = F

12

FIX Trading Specification for Bonds
Tag

Field Name

Data Type Req’d

2020-04-01

Comments

11

ClOrdID

StringY

Unique identifier for the order as assigned by the institution.

38

OrderQty

Qty

R

Value will be ignored. Recommended to set to the current total order
quantity (including the amount already executed for this chain of orders).

41

OrigClOrdID

StringY

ClOrdID (11) of the previous order (not the initial order) as assigned by theinstitution.

54

Side

char

Y

Side of order. Must match original side.
Values:1 = Buy
2 = Sell

55

SymbolStringY

Ticker symbol. Must match original symbol.
Value is the bond code per SICC definition.

60

TransactTimeUTC
YTimestamp

Time this order request was initiated .

Standard trailer

7.5.6 Order Cancel Reject
Tag

Field Name

Data Type Req’d

Standard header - Outgoing

Comments
MsgType (35) = 9

11

ClOrdID

StringY

Unique identifier for the order as assigned by the institution.

37

OrderID

StringY

Unique identifier for order as assigned by Japannext PTS.
Value is NONE if CxlRejReason (102) = 1 (Unknown order).

39

OrdStatuscharY

Identifies current status of this order.
Values:0 = New
1 = Partially filled
2 = Filled
4 = Canceled
5 = Replaced
6 = Pending Cancel
8 = Rejected
A = Pending New
E = Pending Replace

41

OrigClOrdID

StringY

ClOrdID (11) of the previous order (not the initial order) as assigned by theinstitution.

58

Text

String102

CxlRejReason

int

R

Code to identify reason for cancel rejection.
Values:0 = Too late to cancel
1 = Unknown order
3 = Order already in Pending Cancel or Pending Replace status
6 = Duplicate ClOrdID (11) received
99 = Other

434

CxlRejResponseTo

char

Y

Identifies the type of request that a Cancel Reject is in response to.
Values:
1 = Order Cancel Request

Message explaining reject reason.

Standard trailer

7.5.7 Execution Report – Order Canceled
Tag

Field Name

Standard header - Outgoing

Data Type Req’d

Comments
MsgType (35) = 8

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FIX Trading Specification for Bonds
Tag

Field Name

Data Type Req’d

2020-04-01

Comments

1

Account

StringAccount mnemonic as assigned by the institution.

6

AvgPx

Price

Y

Calculated average yield of all fills on this order.

11

ClOrdID

StringR

Unique identifier for the order as assigned by the institution.

14

CumQtyQty

Y

Total number of bonds filled.

17

ExecID

StringY

Unique identifier of execution message as assigned by Japannext PTS.

20

ExecTransType

char

Y

Identifies transaction type.
Values:0 = New

37

OrderID

StringY

Unique identifier for order as assigned by Japannext PTS.

38

OrderQty

Qty

R

Quantity accepted.

39

OrdStatuscharY

Identifies current status of this order.
Values:
4 = Canceled40

OrdTypechar

ROrder type.
Values:2 = Limit

41

OrigClOrdID

String

44

Price

Price

R

Price per bond accepted.

47

Rule80A

char

R

Designates the capacity of the firm placing the order.
Values:A = Agency
P = Principal

54

Side

char

Y

Side of order.
Values:1 = Buy
2 = Sell

55

SymbolStringY

Ticker symbol.
Value is the bond code per SICC definition.

59

TimeInForce

char

R

Specifies how long the order remains in effect.
Values:0 = Day
3 = Immediate or Cancel (IOC)4 = Fill or Kill (FOK)

60

TransactTime

UTC
R
Timestamp

Time the transaction represented by this message occurred.

109

ClientID

StringFirm identifier for the order entry firm if specified.

110

MinQtyQty

Minimum quantity of an order to be executed.

150

ExecTypechar

Y

Describes the specific Execution Report.
Values:
4 = Canceled

151

LeavesQty

Qty

YAmount of bonds open for further execution.
Value is 0.

378

ExecRestatement
Reasonint

ClOrdID (11) of the previous order (not the initial order) as assigned by theinstitution.

Code to identify reason for unsolicited cancel.
Values:2 = Verbal change
7 = Cancel on System Failure
12 = Cancel on connection loss
99 = Other
100 = Trade prevention

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FIX Trading Specification for Bonds
Tag
423

Field Name
PriceType

Data Type Req’d
intR

2020-04-01

Comments
Code to represent the price type.
Values:
9 = Yield

Standard trailer

7.5.8 Order Cancel Replace Request
Tag

Field Name

Data Type

Req’dStandard header - Incoming

Comments
MsgType (35) = G

11

ClOrdID

StringY

Unique identifier for the order as assigned by the institution.

18

ExecInst

Multiple
ValueString

21

HandlInstchar

N

Instructions for order handling on Broker trading floor.
Values:1 = Automated execution order, private, no Broker intervention

38

OrderQty

Qty

R

The new intended total order quantity (including the amount alreadyexecuted for this chain of orders).

40

OrdTypechar

YOrder type.
Values:2 = Limit

41

OrigClOrdID

StringY

ClOrdID (11) of the previous order (not the initial order) as assigned by theinstitution.

44

Price

Price

R

Yield per bond. Required for limit orders, i.e. if OrdType = 2 (Limit).

47

Rule80A

char

54

Side

char

Y

Side of order. Must match original side.
Values:1 = Buy
2 = Sell

55

SymbolStringY

Ticker symbol. Must match original symbol.
Value is the bond code per SICC definition.

59

TimeInForcechar

Specifies how long the order remains in effect. Absence of this field isinterpreted as Day.
Values:0 = Day
3 = Immediate or Cancel (IOC)4 = Fill or Kill (FOK)

60

TransactTimeUTC
YTimestamp

Time this order request was initiated.

110

MinQtyQty

Minimum quantity of an order to be executed. Only to be used inconjunction with TimeInForce (59) = 3 (Immediate or Cancel).

423

PriceTypeint

Instructions for order handling on exchange trading floor. If more than one
instruction is applicable to an order, this field can contain multiple
instructions separated by space.
6 = Participate don't initiate (post-only)x = Ignore notional value checks

Designates the capacity of the firm placing the order. Absence of this field
is interpreted as Principal. Must match original order capacity.
Values:A = Agency
P = Principal

R

Code to represent the price type.
Values:
9 = Yield

Standard trailer

15

FIX Trading Specification for Bonds

2020-04-01

7.5.9 Order Cancel Replace Reject
Tag

Field Name

Data Type Req’d

Standard header - Outgoing

Comments
MsgType (35) = 9

11

ClOrdID

StringY

Unique identifier for the order as assigned by the institution.

37

OrderID

StringY

Unique identifier for order as assigned by Japannext PTS.
Value is NONE if CxlRejReason (102) = 1 (Unknown order).

39

OrdStatuscharY

Identifies current status of this order.
Values:0 = New
1 = Partially filled
2 = Filled
4 = Canceled
5 = Replaced
6 = Pending Cancel
8 = Rejected
A = Pending New
E = Pending Replace

41

OrigClOrdID

StringY

ClOrdID (11) of the previous order (not the initial order) as assigned by theinstitution.

58

Text

String102

CxlRejReason

int

R

Code to identify reason for cancel rejection.
Values:0 = Too late to cancel
1 = Unknown order
2 = Broker / Exchange Option
3 = Order already in Pending Cancel or Pending Replace status
6 = Duplicate ClOrdID (11) received
8 = Price exceeds current price band
99 = Other

434

CxlRejResponseTo

char

Y

Identifies the type of request that a Cancel Reject is in response to.
Values:2 = Order Cancel/Replace Request

Message explaining reject reason.

Standard trailer

7.5.10 Execution Report – Order Replaced
Tag

Field Name

Data Type Req’d

Standard header - Outgoing

Comments
MsgType (35) = 8

1

Account

StringAccount mnemonic as assigned by the institution.

6

AvgPx

Price

Y

Calculated average yield of all fills on this order.

11

ClOrdID

StringR

Unique identifier for the order as assigned by the institution.

14

CumQtyQty

Y

Total number of bonds filled.

17

ExecID

StringY

Unique identifier of execution message as assigned by Japannext PTS.

20

ExecTransType

char

Y

Identifies transaction type.
Values:0 = New

37

OrderID

StringY

Unique identifier for order as assigned by Japannext PTS.

38

OrderQty

Qty

R

Quantity accepted.

16

FIX Trading Specification for Bonds
Tag

Field Name

Data Type Req’d

2020-04-01

Comments

39

OrdStatuscharY

Identifies current status of this order.
Values:
1 = Partially filled
2 = Filled
5 = Replaced40

OrdTypechar

ROrder type.
Values:2 = Limit

41

OrigClOrdID

StringR

ClOrdID (11) of the previous order (not the initial order) as assigned by theinstitution.

44

Price

Price

R

Yield per bond accepted.

47

Rule80A

char

R

Designates the capacity of the firm placing the order.
Values:A = Agency
P = Principal

54

Side

char

Y

Side of order.
Values:1 = Buy
2 = Sell

55

SymbolStringY

Ticker symbol.
Value is the bond code per SICC definition.

59

TimeInForce

char

R

Specifies how long the order remains in effect.
Values:0 = Day
3 = Immediate or Cancel (IOC)4 = Fill or Kill (FOK)

60

TransactTime

UTC
R
Timestamp

Time the transaction represented by this message occurred.

109

ClientID

StringFirm identifier for the order entry firm if specified.

110

MinQtyQty

Minimum quantity of an order to be executed.

150

ExecTypechar

Y

Describes the specific Execution Report.
Values:5 = Replaced

151

LeavesQty

Qty

YAmount of bonds open for further execution.

423

PriceTypeint

R

Code to represent the price type.
Values:
9 = Yield

Standard trailer

7.5.11 Execution Report – Trade
Tag

Field Name

Data Type Req’d

Standard header - Outgoing

Comments
MsgType (35) = 8

1

Account

StringAccount mnemonic as assigned by the institution.

6

AvgPx

Price

Y

Calculated average yield of all fills on this order.

11

ClOrdID

StringR

Unique identifier for the order as assigned by the institution.

14

CumQtyQty

Y

Total number of bonds filled.

17

ExecID

StringY

Unique identifier of execution message as assigned by Japannext PTS.

17

FIX Trading Specification for Bonds
Tag

Field Name

Data Type Req’d

2020-04-01

Comments

20

ExecTransType

Char

Y

Identifies transaction type.
Values:0 = New

31

LastPxPrice

R

Yield of this (last) fill.

32

LastShares

Qty

R

Number of bonds bought/sold on this (last) fill.

37

OrderID

StringY

Unique identifier for order as assigned by Japannext PTS.

38

OrderQty

Qty

R

Quantity accepted.

39

OrdStatuscharY

Identifies current status of this order.
Values:
1 = Partially filled
2 = Filled
6 = Pending Cancel
E = Pending Replace

40

OrdTypechar

ROrder type.
Values:2 = Limit

44

Price

Price

R

Price per bond accepted.

47

Rule80A

char

R

Designates the capacity of the firm placing the order.
Values:A = Agency
P = Principal

54

Side

char

Y

Side of order.
Values:1 = Buy
2 = Sell

55

SymbolStringY

Ticker symbol.
Value is the bond code per SICC definition.

59

TimeInForce

char

R

Specifies how long the order remains in effect.
Values:0 = Day
3 = Immediate or Cancel (IOC)4 = Fill or Kill (FOK)

60

TransactTime

UTC
R
Timestamp

Time the transaction represented by this message occurred.

109

ClientID

StringFirm identifier for the order entry firm if specified.

110

MinQtyQty

Minimum quantity of an order to be executed.

150

ExecTypechar

Y

Describes the specific Execution Report.
Values:
1 = Partial fill
2 = Fill

151

LeavesQty

Qty

YAmount of bonds open for further execution.

375

ContraBroker

StringR

Used to identify the counter party of the trade. Value is the PSMS code per
JASDEC definition.

382

NoContraBrokers

intR

Number of ContraBroker (375) entries. Value is 1.

423

PriceTypeint

R

Code to represent the price type.
Values:
9 = Yield

18

FIX Trading Specification for Bonds
Data Type Req’d

2020-04-01

Tag

Field Name

Comments

851

LastLiquidityInd

intR

Indicator to identify whether this fill was a result of a liquidity provider
providing or liquidity taker taking the liquidity.
Values:1 = Added liquidity
2 = Removed liquidity880

TrdMatchID

StringR

Identifier assigned to a trade by a matching system.

Standard trailer

7.5.12 Business Message Reject
Tag

Field Name

Data Type Req’d

Standard header - Outgoing

Comments
MsgType (35) = j

45

RefSeqNum

int

MsgSeqNum (34) of rejected message

58

Text

StringMessage explaining reject reason.

372

RefMsgType

String379

BusinessRejectRefID

String380

BusinessRejectReason

int

Y

The MsgType (35) of the FIX message being referenced.
The ClOrdID (11) of the FIX message being referenced.

Y

Code to identify reason for a Business Message Reject message.
Values:0 = Other
3 = Unsupported Message Type
5 = Conditionally Required Field Missing

Standard trailer

7.5.13 Trading Session Status
Tag

Field Name

Req’dStandard header - Outgoing

Comments
MsgType (35) = h

336

TradingSessionID

StringY

Identifier for Trading Session.

339

TradSesMode

int

R

Trading Session Mode.
Values:
1 = Testing
3 = Production

340

TradSesStatus

int

Y

State of the trading session.
Values:1 = Halted
2 = Open
3 = ClosedStandard trailer

19

FIX Trading Specification for Bonds

2020-04-01

Revision History
Date

VersionDescription

2016-12-05 1.0

Initial revision.

2017-08-31 1.1

Decreased Account (1) field's length limitation from 16 to 10.
Decreased ExecID (17) field's length limitation from 30 to 20.
Increased SenderSubID (50) field's length limitation from 10 to 30 for incoming messages.
Decreased TargetSubID (57) field's length limitation from 10 to 4 for incoming messages.
Added TrdMatchID (880) to field length limitations table with value 20.
Removed OrderID (37) field from Order Cancel Replace Request and Order Cancel Request messages.

2017-11-21 1.2

Added Data Type column to message definition tables.
Added values for boolean fields.
Changed order of fields listed in header to group first three required fields.
Add parenthesized tag numbers to field names appearing in comments of message definition tables.
Differentiated between Incoming and Outgoing standard headers in Application Messages.
Price (44) is marked as required 'R' in Execution Reports.

20