FIX Protocol Tag 103: OrdRejReason
Reason an order was rejected, such as unknown symbol, exchange closed or order exceeds limit.
- Tag number
- 103
- Data type
- INT
- FIX versions
- FIX 4.0 to 5.0 SP2
- Used in
- 3 message types
Practical notes on OrdRejReason
OrdRejReason gives the reason on an Execution Report that rejects an order (ExecType 150=8, OrdStatus 39=8).
- Frequent codes: 1 Unknown symbol, 2 Exchange closed, 3 Order exceeds limit, 6 Duplicate order, 11 Unsupported order characteristic, 15 Unknown account, 99 Other.
- Many sell sides send 0 or 99 and put the real reason in Text (58).
Changes between FIX versions
- FIX 4.2 has codes 0 to 8. FIX 4.3 adds 9 to 12, FIX 4.4 adds 13 to 15 and 99, and FIX 5.0 SP2 adds risk and price-band codes up to 29.
See also:Order rejected (103 reasons)
Tag 103 in each FIX version
Values and message usage as defined in a specific version.
Data type
INT: A whole number without a decimal point. It may be negative.
Valid values
30 enumerated values across all FIX versions.
| Value | Meaning | FIX versions |
|---|---|---|
| 0 | Broker / exchange option | All |
| 1 | Unknown symbol | All |
| 2 | Exchange closed | All |
| 3 | Order exceeds limit | All |
| 4 | Too late to enter | All |
| 5 | Unknown order | 4.1, 4.2, 4.3, 4.4, 5.0, 5.0 SP1, 5.0 SP2 |
| 6 | Duplicate order | 4.1, 4.2, 4.3, 4.4, 5.0, 5.0 SP1, 5.0 SP2 |
| 7 | Duplicate of a verbally communicated order | 4.2, 4.3, 4.4, 5.0, 5.0 SP1, 5.0 SP2 |
| 8 | Stale order | 4.2, 4.3, 4.4, 5.0, 5.0 SP1, 5.0 SP2 |
| 9 | Trade along required | 4.3, 4.4, 5.0, 5.0 SP1, 5.0 SP2 |
| 10 | Invalid investor ID | 4.3, 4.4, 5.0, 5.0 SP1, 5.0 SP2 |
| 11 | Unsupported order characteristic | 4.3, 4.4, 5.0, 5.0 SP1, 5.0 SP2 |
| 12 | Surveillance option | 4.3, 5.0, 5.0 SP1, 5.0 SP2 |
| 13 | Incorrect quantity | 4.4, 5.0, 5.0 SP1, 5.0 SP2 |
| 14 | Incorrect allocated quantity | 4.4, 5.0, 5.0 SP1, 5.0 SP2 |
| 15 | Unknown account | 4.4, 5.0, 5.0 SP1, 5.0 SP2 |
| 16 | Price exceeds current price band | 5.0 SP1, 5.0 SP2 |
| 18 | Invalid price increment | 5.0, 5.0 SP1, 5.0 SP2 |
| 19 | Reference price not available | 5.0 SP2 |
| 20 | Notional value exceeds threshold | 5.0 SP2 |
| 21 | Algorithm risk threshold breached | 5.0 SP2 |
| 22 | Short sell not permitted | 5.0 SP2 |
| 23 | Short sell security pre borrow restriction | 5.0 SP2 |
| 24 | Short sell account pre borrow restriction | 5.0 SP2 |
| 25 | Insufficient credit limit | 5.0 SP2 |
| 26 | Exceeded clip size limit | 5.0 SP2 |
| 27 | Exceeded max notional order amt | 5.0 SP2 |
| 28 | Exceeded DV01 PV01 limit | 5.0 SP2 |
| 29 | Exceeded CS01 limit | 5.0 SP2 |
| 99 | Other | 4.4, 5.0, 5.0 SP1, 5.0 SP2 |
Example
103=0
Illustrative value. In a message, fields are separated by the SOH character (0x01), often shown as | or ^ in logs.
Decode a message with this tagMessage types that use tag 103
- Execution Report 35=8
- List Status 35=N
- Mass Order Ack 35=DK
Covers every version from FIX 4.0 to 5.0 SP2, including fields reached through components and repeating groups. The version pages above show whether the tag is required in each message.
Field and message data comes from the QuickFIX data dictionaries for FIX 4.0 to 5.0 SP2 and FIXT 1.1, used under the QuickFIX Software License. This product includes software developed by quickfixengine.org (http://www.quickfixengine.org/). Enumerated value names are converted to plain text for reading.