Indication of interest messages are used to market merchandise which the broker is buying or selling in either a proprietary or agency capacity. The indications can be time bound with a specific expiration value. Indications are distributed with the understanding that other firms may react to the message first and that the merchandise may no longer be available due to prior trade.
Indication messages can be transmitted in various transaction types; NEW, CANCEL, and REPLACE. All message types other than NEW modify the state of the message identified in IOIRefID.

Added in protocol FIX.2.7

See in: FIX.4.0, FIX.4.1, FIX.4.2, FIX.4.3, FIX.4.4, FIX.5.0SP1, FIX.5.0SP2, FIX.5.0SP2 EP240.

Field or Component Name Description Is Required Added Is Deprecated
Block StandardHeader MsgType = 6 Y FIX.2.7
23 IOIID Y FIX.2.7
28 IOITransType Y FIX.2.7
26 IOIRefID Required for Cancel and Replace IOITransType messages FIX.2.7
Block Instrument Insert here the set of “Instrument” (symbology) fields defined in “Common Components of Application Messages” Y FIX.4.3
BlockRepeating Parties Insert here the set of “Parties” (firm identification) fields defined in “Common Components of Application Messages”. FIX.4.4
Block FinancingDetails Insert here the set of “FinancingDetails” (symbology) fields defined in “Common Components of Application Messages” FIX.4.4
OptimisedImplicitBlockRepeating UndInstrmtGrp Number of underlyings FIX.4.4
54 Side Side of Indication
Valid values:
1 = Buy
2 = Sell
7 = Undisclosed (for IOIs)
B = As Defined (for multilegs)
C = Opposite (for multilegs)
Y FIX.2.7
854 QtyType FIX.4.4
Block OrderQtyData Insert here the set of “Instrument” (symbology) fields defined in “Common Components of Application Messages”
The value zero is used if NoLegs repeating group is used
Applicable if needed to express CashOrder Qty (tag 152)
FIX.4.4
27 IOIQty The value zero is used if NoLegs repeating group is used Y FIX.2.7
15 Currency FIX.2.7
BlockRepeating Stipulations Insert here the set of “Stipulations” (symbology) fields defined in “Common Components of Application Messages” FIX.4.4
ImplicitBlockRepeating InstrmtLegIOIGrp Required for multileg IOIs FIX.4.4
423 PriceType FIX.4.3
44 Price FIX.2.7
62 ValidUntilTime FIX.2.7
25 IOIQltyInd FIX.2.7
130 IOINaturalFlag FIX.4.0
ImplicitBlockRepeating IOIQualGrp Required if any IOIQualifiers are specified. Indicates the number of repeating IOIQualifiers. FIX.4.4
58 Text FIX.2.7
354 EncodedTextLen Must be set if EncodedText (355) field is specified and must immediately precede it. FIX.4.2
355 EncodedText Encoded (non-ASCII characters) representation of the Text (58) field in the encoded format specified via the MessageEncoding (347) field. FIX.4.2
60 TransactTime FIX.4.1
149 URLLink A URL (Uniform Resource Locator) link to additional information (i.e. http://www.XYZ.com/research.html) FIX.4.1
ImplicitBlockRepeating RoutingGrp Required if any RoutingType and RoutingIDs are specified. Indicates the number within repeating group. FIX.4.4
Block SpreadOrBenchmarkCurveData Insert here the set of “SpreadOrBenchmarkCurveData” (Fixed Income spread or benchmark curve) fields defined in “Common Components of Application Messages” FIX.4.3
Block YieldData FIX.4.4
Block StandardTrailer Y FIX.2.7