Trader OMS FIX API Specs

PROGRAMMING GUIDE

Copyright © 2025

Introduction

FIX API for trading is based on version 4.3 of the FIX protocol. The API is used to trade instruments available in the system. Throughout the document, it's assumed that you have a general understanding of FIX protocol version 4.3.

NOTE: FIX Server also supports FIX versions higher than 4.3. Please contact support in case of version mismatch problems or for specific conditions and appropriate configurations.

Technical Support

Please contact devcenter@koala.markets for all kinds of technical support and troubleshooting inquiries.

General Considerations

Time Zone

The system uses Coordinated Universal Time (UTC). You should handle any time zone conversions that may be required on your side.

Payload Security

The host communicates using SSL-encrypted TCP sockets. No special SSL certificates are needed for now. The client can use an SSL-enabled FIX initiator/client or use SSL tunneling. SSL-tunneling functionality is provided by freely available open-source products. For additional support or consultancy regarding SSL tunneling, contact our technical support team.

IP Filtering

Clients are identified by their IP addresses in the system. To connect, the following prerequisites should be met:

• The static IP set of the client should be cleared at the host.
• The client should use the provided host address and port.

Credentials

To connect to FIX API host, the client must obtain the following:

• TargetCompId
• SenderCompId
• User Name
• Password
• Price Feed URL (or IP) and Port
• Trading URL (or IP) and Port

Instrument Identification

The system supports the following for identifying an instrument between the client and the host:

• Tag 55 – Symbol: Common, "human understood" representation of the security. If you use "Tag 48 – SecurityID + Tag 22 – SecurityIDSource," then please provide "[N/A]" as the value for Tag 55.
• Tag 48 – SecurityID + Tag 22 - SecurityIDSource: International Securities Identification Number (ISIN) which uniquely identifies a security. Its structure is defined in ISO 6166.

Please contact our technical support team for the latest list of instruments available for trading.

Multi Session

FIX API is configured to provide two sessions per client; one for price feed, one for order management. Both sessions should be configured to reset sequence numbers on login. Additionally, for price feed sessions, FIX messages should not be persisted to facilitate maximum throughput.

Trading and Price Feed Session Times

Currently, the system provides securities only from Börse Düsseldorf (Quotrix). Börse Düsseldorf working hours for price feeds and trading sessions are as follows:

Price Feed Sessions:

Monday – Friday: 07:00 – 22:05 Germany Time

Trading Sessions:

Monday – Friday: 08:00 – 22:00 Germany Time

Session Administration Messages

Login

The Login message is sent by a client to initiate a FIX session. The Login message establishes the communication session, authenticates the connecting client, and initializes the message sequence number. FIX session login message type "A" should be the first message sent by the FIX API client to the server after establishing a network connection. Note that the password in the client's login message should match the expected value; otherwise, the session will be terminated. The login message is needed for both Data feed session and trading session.

Tag	Field Name	Required	Comments
	Standard Header	Y	MsgType = Login (A)
98	Encrypt Method	Y	Always unencrypted
108	HeartBtInt	Y	Heartbeat interval in seconds
141	ResetSeqNumFlag	N	Set to 'Y' to indicate both sides of a FIX session should reset sequence numbers. Must be 'Y' on pricing feed sessions.
553	Username	Y
554	Password	Y
	Standard Trailer	Y

Example Login

8=FIX.4.3 9=133 35=A 34=1 49=TRADE-DEV-DESKTOP-CLIENT 52=20220412-09:54:08.496 56=TRADE 98=0 108=30 141=Y 553=username 554=password 10=215

Heartbeat

Message sent during quite intervals on the connection to ensure that connection is still alive.

Tag	Field Name	Required	Comments
	Standard Header	Y	MsgType = Heartbeat (0)
112	TestReqId	C	Required when the heartbeat is the result of a test request message
	Standard Trailer	Y

Logout

Message used to terminate a FIX connection. Can be sent by the client or the host.

Tag	Field Name	Required	Comments
	Standard Header	Y	MsgType = Logout (5)
58	Text	N
	Standard Trailer	Y

Remark: Either a logout message followed by a disconnection or a disconnection will suffice for logout.

Trading Message Types

Session Flow

• API Client submits an order with NewOrderSingle message
• FIX API responds with one or more ExecutionReport messages

NewOrderSingle (Tag 35=D)

Tag	Field Name	Required	Comments
	Standard Header	Y	MsgType = NewOrderSingle (D)
11	ClOrdID	Y	Unique ID for the session
1	Account	N	Account ID of client-side customer (may be required in some cases depending on the client)
583	ClOrdLinkID	N	Used to indicate client-side customer Account, Ticket ID and Group name (eg. string "1000-12384-DemoGrp1"). Account and Ticket ID must be numbers. All three fields must be populated with a default value even if it is not used/available.
55	Symbol	C	Either Tag 55 or Tag 48 & 22 will be sent based on how market data is requested initially. If only Tag 48 & 22 will be used, then use 55="[N/A]"
48	SecurityID	C	Either Tag 55 or Tag 48 & 22 will be sent based on how market data is requested initially.
22	SecurityIDSource	C	ISIN number (4)Either Tag 55 or Tag 48 & 22 will be sent based on how market data is requested initially.
54	Side	Y	1=Buy 2=Sell
60	TransactTime	Y	Time this order request was initiated/released by the trader, trading system, or intermediary.
38	OrderQty	Y	Quantity of order.
40	OrdType	Y	1 = Market2 = Limit
44	Price	C	Required on OrdType Limit or Previously Quoted. Price combined with Slippage (if any) represents the worst price the client will accept.
15	Currency	N	Identifies the currency used for price (3-character ISO 4217 currency code value)
59	TimeInForce	Y	Immediate or Cancel (3)Fill or Kill (4)Good Till Date (6) – ExpireDate tag 432 required
432	ExpireDate	C	Date of order expiration (the local market date at which the order can be traded last). If TimeInForce is Good Till Date (6), this is required. Format: 'YYYYMMDD'
21	HandInst	Y	1
	Standard Trailer	Y

ExecutionReport (Tag 35=8, after NewOrderSingle)

After NewOrderSingle message, one or more ExecutionReport messages can be sent by FIX API.

ExecutionReport can be just for acknowledgement (ack.) about the NewOrderSingle message received without having any order filling execution. Therefore, OrdStatus (tag 39) must be checked about the order status within ExecutionReport.

Some of the possible scenarios:

• rejected, i.e. OrdStatus (tag 39=8)
• accepted as new, i.e. OrdStatus (tag 39=0)
• accepted as pending new, i.e. OrdStatus (tag 39=A)
• canceled, i.e. OrdStatus (tag 39=4)
• expired, i.e. OrdStatus (tag 39=C)
• partially filled, i.e. OrdStatus (tag 39=1)
• filled, i.e. OrdStatus (tag 39=2)

An ExecutionReport will be reporting the execution alongside the status of the order type if any happens.

Tag	Field Name	Required	Comments
	Standard Header	Y	MsgType = ExecutionReport (8)
37	OrderID	Y	Represents the unique order ID provided by FIX API
11	ClOrdID	Y	ClOrdID from preceding NewOrderSingle message
17	ExecID	Y	Represents the unique execution ID
150	ExecType	Y	New (0)Pending New (A) Fill (2)Rejected (8)
39	OrdStatus	Y	New (0) – when order accepted / this msg is ack. Pending New (A) – when order accepted / waiting Partially Filled (1), Filled (2) – when complete quantity filled, Done for Day (3) – when day completes un-filled, Canceled (4), Rejected (8), Calculated (B), Expired (C) – when unfilled within provided TimeInForce or based on venue deadline
58	Text	N	Provided for information about the result with human readable text
55	Symbol	C	Either Tag 55 or Tag 48 & 22 will be sent based on how market data is requested initially.
48	SecurityID	C	Either Tag 55 or Tag 48 & 22 will be sent based on how market data is requested initially.
22	SecurityIDSource	C	ISIN number (4)Either Tag 55 or Tag 48 & 22 will be sent based on how market data is requested initially.
54	Side	Y	1=Buy 2=Sell
38	OrderQty	Y	Order quantity from order (in same denomination)
44	Price	N	Order price from order. If the order is filled completely or partially
32	LastQty	N	Fill quantity if ExecType=F, in same denomination as OrderQty
31	LastPx	N	Fill price if ExecType=F
151	LeavesQty	Y	Unfilled quantity remaining (0 if ExecType=F, OrderQty otherwise)
14	CumQty	Y	Filled quantity (OrderQty if ExecType=F, 0 otherwise)
6	AvgPx	Y	Filled price.
60	TransactTime	N	Time the transaction represented by this ExecutionReport occurred
526	SecondaryClOrdID	N	Additional order ID, used for reporting purposes
	Standard Trailer	Y

OrderCancelRequest (35=F)

Tag	Field Name	Required	Comments
	Standard Header	Y	MsgType = OrderCancelRequest (F)
11	ClOrdID	Y	Unique ID for order to cancel which was assigned by client when creating order with NewOrderSingle.
41	OrigClOrdID	N	original identifier of the order as assigned in NewOrderSingle message by client in field ClOrdID
37	OrderID	Y	Unique ID for order to cancel which was assigned by the FIX API in ExecutionReport after creating order with NewOrderSingle
55	Symbol	C	Either Tag 55 or Tag 48 & 22 will be sent based on how market data is requested initially. If only Tag 48 & 22 will be used, then use 55="[N/A]"
48	SecurityID	C	Either Tag 55 or Tag 48 & 22 will be sent based on how market data is requested initially.
22	SecurityIDSource	C	ISIN number (4)Either Tag 55 or Tag 48 & 22 will be sent based on how market data is requested initially.
54	Side	Y	1=Buy 2=Sell
38	OrderQty	Y	Quantity of order.
40	OrdType	Y	1 = Market2 = Limit
60	TransactTime	Y	Time this order request was initiated/released by the trader, trading system, or intermediary.
	Standard Trailer	Y

ExecutionReport (Tag 35=8, after OrderCancelRequest)

After OrderCancelRequest message, if the request is put into processing, it may respond with one or more ExecutionReport messages by FIX API.

If the OrderCancelRequest message is rejected, then it’ll not respond with ExecutionReport, but it’ll be rejected via OrderCancelReject (35=9) message. In this case, please see the section for OrderCancelReject (35=9).

ExecutionReport can be just for acknowledgement (ack.) about the OrderCancelRequest message received without canceling at first. Therefore, OrdStatus (tag 39) has to be checked about the order status within the ExecutionReport.

Some of the possible scenarios:

• pending cancel, i.e. OrdStatus (tag 39=6)
• canceled, i.e. OrdStatus (tag 39=4)

An ExecutionReport will be reporting the execution type alongside the status of the order if any happens.

Tag	Field Name	Required	Comments
	Standard Header	Y	MsgType = ExecutionReport (8)
37	OrderID	Y	Represents the unique order ID provided by FIX API
11	ClOrdID	Y	ClOrdID from preceding NewOrderSingle message
41	OrigClOrdID	N	original identifier of the order as assigned in NewOrderSingle message by client in field ClOrdID
17	ExecID	Y	Represents the unique execution ID
150	ExecType	Y	Canceled (4)Pending Cancel (6)
39	OrdStatus	Y	Canceled (4)Pending Cancel (6) – notifies that it’s in canceling
58	Text	N	Provided for information about the result with human readable text
55	Symbol	C	Either Tag 55 or Tag 48 & 22 will be sent based on how market data is requested initially.
48	SecurityID	C	Either Tag 55 or Tag 48 & 22 will be sent based on how market data is requested initially.
22	SecurityIDSource	C	ISIN number (4)Either Tag 55 or Tag 48 & 22 will be sent based on how market data is requested initially.
54	Side	Y	1=Buy 2=Sell
38	OrderQty	Y	Order quantity from order (in same denomination)
40	OrdType	Y
44	Price	N	Order price from order. If the order is filled completely or partially
32	LastQty	N	Fill quantity if ExecType=F, in same denomination as OrderQty
31	LastPx	N	Fill price if ExecType=F
151	LeavesQty	Y	Unfilled quantity remaining (0 if ExecType=F, OrderQty otherwise)
14	CumQty	Y	Filled quantity (OrderQty if ExecType=F, 0 otherwise)
6	AvgPx	Y	Filled price.
60	TransactTime	N	Time the transaction represented by this ExecutionReport occurred
	Standard Trailer	Y

OrderCancelReject (Tag 35=9, after OrderCancelRequest)

After OrderCancelRequest message, if the request is rejected, it’ll be rejected via OrderCancelReject (35=9) message. In this case

OrdStatus (tag 39) has to be checked about the order status within the OrderCancelReject.

An ExecutionReport will be reporting the execution type alongside the status of the order if any happens.

Tag	Field Name	Required	Comments
	Standard Header	Y	MsgType = ExecutionReport (8)
37	OrderID	Y	Represents the unique order ID provided by FIX API
11	ClOrdID	Y	ClOrdID from preceding NewOrderSingle message
41	OrigClOrdID	N	original identifier of the order as assigned in NewOrderSingle message by client in field ClOrdID
39	OrdStatus	Y	Rejected (8) – order cancel is rejected
434	CxlRejResponseTo	Y	identifies the type of request that this OrderCancelReject is in response to
102	CxlRejReason	Y	int code to identify reason for the reject
1	Account	N
58	Text	N	Provided for information about the result with human readable text
60	TransactTime	N	Time the transaction occurred
	Standard Trailer	Y

Examples

FIX API – market order buy - TimeInForce - Immediate Or Cancel - ISIN DE000PAH0038 example – filled order

Sent to FIX API

Note that your SenderCompID and TargetCompID may differ. Below is just an example.

ClOrdID=11=1649763811406

SenderCompID=49= TRADE-DEV-DESKTOP-CLIENT

TargetCompID=56= TRADE

Symbol=55=[N/A]

SecurityID=48= DE000PAH0038

SecurityIDSource=22=4 (ISIN)

OrderType=40=1 (Market)

Side=54=1 (Buy)

Currency=15=EUR

OrderQty=38=1

TimeInForce=59=3 (Immediate or Cancel)

TransactTime=60=20220412-11:43:31.426 (UTC)

HandlInst=21=1

8=FIX.4.3
9=202
35=D
34=3
49=TRADE-DEV-DESKTOP-CLIENT
52=20220412-11:43:31.427
56=TRADE
11=1649763811406
15=EUR
21=1
22=4
38=1
40=1
48=DE000PAH003854=1
55=[N/A]
59=3
60=20220412-11:43:31.426
100=
10=146

Received from FIX API

An acknowledgement ExecutionReport message (accepted order with OrdStatus=39=0)

8=FIX.4.3
9=259
35=8
34=3
49=TRADE
52=20220412-11:43:30.888
56=TRADE-DEV-DESKTOP-CLIENT
6=0
11=1649763811406
14=0
15=EUR
17=b184143d-7fc8-4a9a-f05c-08da1c6ae866
22=4
37=eed8c58f-ae9c-4bef-f539-08da1c6ae6ec
38=1
39=0
40=1
48=DE000PAH0038
54=1
55=[N/A]
58=ORDER ENTERED SUCCESSFULLY
150=0
151=1
10=253

A filled ExecutionReport message

• filled order with status OrdStatus=39=2
• filled at Price=44=81.08
• filled AvgPx=6=0
• filled CumQty=14=1 (fully filled in this example)
• ExecType=150=F (filled fully or partialy)
• LeavesQty=151=0 (no quantity left to fill, because it filled completely)

8=FIX.4.3
9=268
35=8
34=4
49=TRADE
52=20220412-11:43:31.149
56=TRADE-DEV-DESKTOP-CLIENT
6=0
11=1649763811406
14=1
15=EUR
17=8b31cd0f-7f5e-4916-f05d-08da1c6ae866
22=4
37=eed8c58f-ae9c-4bef-f539-08da1c6ae6ec
38=1
39=2
40=1
44=81.08
48=DE000PAH0038
54=1
55=[N/A]
58=ORDER EXECUTED
60=20220412-11:43:30.560
150=F
151=0
10=224

FIX API – market order buy - TimeInForce - Immediate Or Cancel - ISIN DE000PAH0038 example – canceled by venue

Sent to FIX API

Note that your SenderCompID and TargetCompID may differ. Below is just an example.

ClOrdID=11=1649758221291

SenderCompID=49= TRADE-DEV-DESKTOP-CLIENT

TargetCompID=56= TRADE

Symbol=55=[N/A]

SecurityID=48= DE000PAH0038

SecurityIDSource=22=4 (ISIN)

OrderType=40=1 (Market)

Side=54=1 (Buy)

Currency=15=EUR

OrderQty=38=1

TimeInForce=59=3 (Immediate or Cancel)

TransactTime=60=20220412-10:10:21.290 (UTC)

HandlInst=21=1

8=FIX.4.3
9=203
35=D
34=5
49=TRADE-DEV-DESKTOP-CLIENT
52=20220412-10:10:21.290
56=TRADE
11=1649758221291
15=EUR
21=1
22=4
38=1
40=1
48=DE000PAH0038
54=1
55=[N/A]
59=3
60=20220412-10:10:21.290
10=181

Received from FIX API

An acknowledgement ExecutionReport message

8=FIX.4.3
9=293
35=8
34=6
49=TRADE
52=20220412-10:10:28.115
56=TRADE-DEV-DESKTOP-CLIENT
6=0
11=1649758221291
14=0
15=EUR
17=b184143d-7fc8-4a9a-f05c-08da1c6ae866
22=43
7=eed8c58f-ae9c-4bef-f539-08da1c6ae6ec
38=1
39=0
40=1
48=DE000PAH0038
54=1
55=DE000PAH0038
58=ORDER ENTERED SUCCESSFULLY
150=0
151=1
10=143

A canceled ExecutionReport message

8=FIX.4.3
9=315
35=8
34=7
49=TRADE
52=20220412-10:10:43.143
56=TRADE-DEV-DESKTOP-CLIENT
6=0
11=1649758221291
14=0
15=EUR
17=8b31cd0f-7f5e-4916-f05d-08da1c6ae866
22=4
37=eed8c58f-ae9c-4bef-f539-08da1c6ae6ec
38=1
39=4
40=1
48=DE000PAH0038
54=B
55=DE000PAH0038
58=LO DELETED BY CANCEL-COND. RAISED (EXECADDON=2).
150=4
151=1
10=098

FIX API – cancel order - ISIN DE000PAH0038 example – canceled by venue

Sent to FIX API

Note that your SenderCompID and TargetCompID may differ. Below is just an example.

ClOrdID=11=1649767541802

SenderCompID=49= TRADE-DEV-DESKTOP-CLIENT

TargetCompID=56= TRADE

Symbol=55=[N/A]

SecurityID=48= DE000PAH0038

SecurityIDSource=22=4 (ISIN)

OrderType=40=1 (Market)

Side=54=1 (Buy)

Currency=15=EUR

OrderQty=38=1

TransactTime=60=20220412-12:45:59.697 (UTC)

8=FIX.4.3
9=226
35=F
34=101
49=TRADE-DEV-DESKTOP-CLIENT
52=20220412-12:46:02.310
56=TRADE
11=1649767541802
22=4
37=61287aa8-e31e-41d1-f53a-08da1c6ae6ec
38=1
40=1
41=1649767541802
48=DE000PAH0038
54=1
55=[N/A]
60=20220412-12:45:59.697
10=088

Received from FIX API

A canceled ExecutionReport message

8=FIX.4.3
9=310
35=8
34=101
49=TRADE
52=20220412-12:46:06.823
56=TRADE-DEV-DESKTOP-CLIENT
6=0
11=1649767541802
14=0
15=EUR
17=dd266635-fa06-433e-f05f-08da1c6ae866
22=4
37=61287aa8-e31e-41d1-f53a-08da1c6ae6ec
38=1
39=4
40=1
41=61287aa8-e31e-41d1-f53a-08da1c6ae6ec
48=DE000PAH0038
54=1
55=DE000PAH0038
58=OK
150=4
151=1
10=04