The presence of DiscretionInstructions component block on an order indicates that the trader wishes to display one price but will accept trades at another price.
Added in protocol FIX.4.4
See in: FIX.4.4, FIX.5.0, FIX.5.0SP1, FIX.5.0SP2.
| Field or Component | Name | Description | Is Required | Added | Is Deprecated |
|---|---|---|---|---|---|
| 388 | DiscretionInst | What the discretionary price is related to (e.g. primary price, display price etc) | FIX.4.4 | ||
| 389 | DiscretionOffsetValue | Amount (signed) added to the “related to” price specified via DiscretionInst, in the context of DiscretionOffsetType | FIX.4.4 | ||
| 841 | DiscretionMoveType | Describes whether discretion price is static/fixed or floats | FIX.4.4 | ||
| 842 | DiscretionOffsetType | Type of Discretion Offset (e.g. price offset, tick offset etc) | FIX.4.4 | ||
| 843 | DiscretionLimitType | Specifies the nature of the resulting discretion price (e.g. or better limit, strict limit etc) | FIX.4.4 | ||
| 844 | DiscretionRoundDirection | If the calculated discretion price is not a valid tick price, specifies how to round the price (e.g. to be more or less aggressive) | FIX.4.4 | ||
| 846 | DiscretionScope | The scope of “related to” price of the discretion (e.g. local, global etc) | FIX.4.4 |