Messages

Session

FIX messages

Sender	Message Name	Type	Comments
Client	Logon	A	Logon with username and password
Server	Logon	A	Logon confirmation
Both	Logout	5	Logout request/confirmation
Both	Heartbeat	0	Heart beat message sent periodically by each party to verify connection is still up, in the event no data has been received after (default) 30 seconds
Both	TestRequest	1	Test request

Logon - A

Tag	Field Name	Required	Type	Comments
98	EncryptMethod	Y	int	0=None
108	HeartBtInt	Y	int	Heart beat interval, seconds
553	UserName	Y	string	Client user name
554	Password	Y	string	Client password
141	ResetSeqNumFlag	Y	bool	Yes (true), FIX message sequence numbers will start from 1 on each session

Reject - 3

Tag	Field Name	Required	Type	Comments
45	RefSeqNum	Y	int	MsqSeqNum<34> of the rejected message
371	RefTagID	N	int	Tag number of the offending tag in the rejected message
372	RefMsgType	N	string	MsgType<35> of the rejected message
373	SessionRejectReason	N	int	Rejection code
58	Text	N	string	Error message

Logout - 5

Tag	Field Name	Required	Type	Comments
58	Text	N	string	Logout text message

Test - 1

Tag	Field Name	Required	Type	Comments
112	TestReqID	Y	string	Identifier, or 'hello world' text to be returned in ensuing Heartbeat

Heartbeat - 0

Tag	Field Name	Required	Type	Comments
112	TestReqID	N	string	Only required if it is in a reply to a Test message

Orders

Instant Execution

BTCS supports three order types for instant execution; all with FOK (Fill or Kill) as Time-in-Force:

Market: Plain vanilla market order.
Limit: Either the entire order can be filled within the limit set on the order, or it will be rejected.
Quote: The client asks for a quote, i.e. a guaranteed price to buy or sell a given quantity of an instrument. Given a quote id, the client can then submit an order and will be filled accordingly.

Event Driven Execution

BTCS supports two order types for market price driven execution; both with GTC (Good Till Cancel) as Time-in-Force:

Limit:
- For sell orders: Sell the entire order quantiy at a minimum price.
- For buy orders: Buy the entire order quantity at a maximum price.
Stop:
- For sell orders: If the top-of-book bid price touches the order stop price, or is lower, then the order will be filled as plain vanilla market order.
- For buy orders: If the top-of-book offer price touches the order stop price, or is higher, then the order will be filled as plain vanilla market order.

Strategy Execution

For execution strategies beyond the vanilla types above, BTCS supports Smart target strategy for advanced execution. Here, the order is fed to the market bit-by-bit throughout a time period which aims to give the client, on average, the best price in the market. This is intended for larger orders.

Cancellation

The client can at any time cancel an open order, which will cancel any attempts to fill the remaining quantity on the order.

Best Execution Policy

All orders are executed according to our Best Execution policy.

FIX messages

Sender	Message Name	Type	Comments
Client	QuoteRequest	R	Request for tradeable quote
Server	Quote	S	Tradeable quote
Server	QuoteRequestReject	AG	Rejection of quote request
Client	NewOrderSingle	D	New order
Server	ExecutionReport	8	Status on an order, including acceptance, fills, cancellations and rejects
Client	OrderStatusRequest	H	Request for status on an individual order
Client	OrderMassStatusRequest	AF	Request for status on all orders
Client	OrderCancelRequest	F	Request to cancel an order
Server	OrderCancelReject	9	Rejection message, if an order could not be cancelled or modified

Quote trading

Market and Limit Orders (FOK)

Limit, Stop, and Strategy Orders (GTC) - full accept

Limit, Stop, and Strategy Orders (GTC) - pending accept

Order Status

OrderStatusRequestOrderMassStatusRequest

Cancellation

QuoteRequest - R

Tag	Field Name	Required	Type	Comments
1	Account	Y	string	Account where the amount is to be deducted from; debited
131	QuoteReqID	Y	string	Unique identifier for this request
146	NoRelatedSym	Y	int	1. Number of symbols in this request. BTCS only supports a quote for a single instrument
>55	Symbol	Y	string	ccyA/ccyB
>38	OrderQty	Y	decimal	Must be positive and specifies the quantity in currency the client wants to buy or sell
>15	Currency	Y	string	Either ccyA or ccyB
>54	Side	N	char	1=Buy 2=Sell If set, the calculated commission amount is an exact amount otherwise an estimate
>8007	QtyIncludesComm	N	bool	Quantity should include the commission amount

Quote - S

The quote defines the bid- and offer prices that the client can expect to be filled at for the requested quantity and currency.

Tag	Field Name	Required	Type	Comments
117	QuoteID	Y	string	BTCS assigned id for this quote
131	QuoteReqID	Y	string	Client's QuoteRequest ID this quote refers to
15	Currency	Y	string	Either ccyA or ccyB
38	OrderQty	Y	decimal	The quantity to be traded
55	Symbol	Y	string	ccyA/ccyB
132	BidPx	Y	decimal	Bid price
133	OfferPx	Y	decimal	Offer price
126	ExpireTime	Y	UTC Timestamp	When the quote expires
60	TransactTime	Y	UTC Timestamp	Timestamp with 3 decimals when the report was created

QuoteRequestReject -AG

Tag	Field Name	Required	Type	Comments
131	QuoteReqID	Y	string	Client's QuoteRequest ID this quote refers to
658	QuoteRequestRejectReason	Y	int	Unique rejection code
58	Text	N	string	Error description

NewOrderSingle Fields

The below is a summary of the various mandatory (m) and optional (o) order fields to support the different order and execution types.

Tag	Field Name	Market Instant	Limit Instant	RFQ Instant	Smart	Limit	Stop
1	Account	m	m	m	m	m	m
11	ClOrdID	m	m	m	m	m	m
15	Currency	m	m	m	m	m	m
38	OrderQty	m	m	m	m	m	m
55	Symbol	m	m	m	m	m	m
54	Side	m	m	m	m	m	m
60	TransactionTime	m	m	m	m	m	m
117	QuoteID			m
40	OrdType	Market	Limit	PreivouslyQuoted	Market	Limit	Stop
59	TimeInForce	FOK	FOK	FOK	GTC	GTC	GTC
847	TargetStrategy				Smart
126	ExpireTime				o	m	m
44	Price		m			m
99	StopPx						m

NewOrderSingle - D

Tag	Field Name	Required	Type	Comments
1	Account	Y	string	Account where the amount is to be deducted from; debited
11	ClOrdID	Y	string	Unique client order
15	Currency	Y	string	Either ccyA or ccyB
38	OrderQty	Y	decimal	Must be positive, and specifies the quantity the client wants to buy or sell, in currency
40	OrdType	Y	char	1=Market 2=Limit 3=Stop D=Previously quoted
44	Price	N	decimal	Limit price
99	StopPx	N	decimal	Stop price
54	Side	Y	char	1=Buy 2=Sell
55	Symbol	Y	string	ccyA/ccyB
59	TimeInForce	Y	char	4=Fill or Kill 1=Good Till Cancel
60	TransactTime	Y	UTC Timestamp	Timestamp with 3 decimals when the order was created
117	QuoteID	N	string	BTCS assigned id for quote that should be executed. Only relevant when OrdType=D=Previously quoted
126	ExpireTime	N	UTC Timestamp	ExpireTime (UTC) (For GTC)
847	TargetStrategy	N	int	0=None 100=Smart 101=TWAP 102=Scheduled 103=SoftLimit 104=DCA
8004	ToAccount	N	string	2nd account, if it cannot be deduced from the symbol. Account where the amount will be credited to
8007	QtyIncludesComm	N	bool	Quantity should include the commission amount

ExecutionReport - 8 - Normal case

Tag	Field Name	Required	Type	Comments
1	Account	Y	string	Account where the amount is to be deducted from; debited
11	ClOrdID	Y	string	Unique client order, eiter from NewOrderSingle, OrderCancelRequest, or OrderCancelReplaceRequest
41	OrigClOrdID	Y	string	Original client order that was cancelled or modified
37	OrderID	Y	string	BTCS assigned order Id
117	QuoteID	N	string	BTCS assigned quote Id
40	OrdType	Y	char	1=Market 2=Limit 3=Stop D=Previously quoted
44	Price	N	decimal	Limit price
99	StopPx	N	decimal	Stop price
54	Side	Y	char	1=Buy 2=Sell
55	Symbol	Y	string	ccyA/ccyB
59	TimeInForce	Y	char	4=Fill or Kill (Market, Limit, PreviouslyQuoted) 1=Good Till Cancel (Market, Limit, Stop, StopLimit)
15	Currency	Y	string	Original order currency
38	OrderQty	Y	decimal	Original order quantity
17	ExecID	Y	string	BTCS assigned execution ID to uniquely identify this execution
150	ExecType	Y	char	0=New 4=Cancelled 5=Replaced 8=Rejected F=Trade (fill or partial fill) I=Order status
39	OrdStatus	Y	char	A=PendingNew 0=New 1=PartiallyFilled 2=Filled 4=Cancelled 6=PendingCancel 8=Rejected
31	LastPx	N	decimal	The price for this particular fill
32	LastQty	N	decimal	The quantity in currency for this particular fill
14	CumQty	N	decimal	Cumulative sum of the fills for this order
151	LeavesQty	N	decimal	Quantity - Cumulative quantity
60	TransactTime	Y	UTC Timestamp	Timestamp with 3 decimals when the report was created
126	ExpireTime	N	UTC Timestamp	ExpireTime (UTC)
847	TargetStrategy	N	int	0=None 100=Smart
103	OrdRejReason	N	int	Unique error code if the order was rejected
58	Text	N	string	Error description
8012	AvailableToTrade	N	decimal	If TradingPolicy is violated, this is a hint what could be traded instead
479	CommCurrency	N	string	Commission currency
12	Commission	N	decimal	Commission amount
584	MasStatusReqID	N	string	Client provided request ID, if in a reply to OrderMassStatusRequest
911	TotNumReports	N	int	Total number of reports to be replied, if in a reply to OrderMassStatusRequest
912	LastRptRequested	N	bool	Is this the last report, if in a reply to OrderMassStatusRequest

ExecutionReport - 8 - Empty reply to OrderMassStatusRequest

Tag	Field Name	Required	Type	Comments
17	ExecID	Y	string	BTCS assigned execution ID to uniquely identify this execution
150	ExecType	Y	char	I=Order status
60	TransactTime	Y	UTC Timestamp	Timestamp with 3 decimals when the report was created
584	MasStatusReqID	Y	string	Client provided request ID, if in a reply to OrderMassStatusRequest
911	TotNumReports	Y	int	0
912	LastRptRequested	Y	bool	Y

OrderStatusRequest - H

Tag	Field Name	Required	Type	Comments
1	Account	Y	string	Account used for the order
11	ClOrdID	Y	string	Client order Id this request refers to

OrderMassStatusRequest - AF

Tag	Field Name	Required	Type	Comments
1	Account	Y	string	An account that was used for one of the orders
584	MasStatusReqID	Y	string	Client provided request ID
585	MassStatusReqType	Y	int	7=All orders 11=Open orders

OrderCancelRequest - F

Tag	Field Name	Required	Type	Comments
1	Account	Y	string	Account used for the order
11	ClOrdID	Y	string	Unique identifier for this request
41	OrigClOrdID	Y	string	Client order Id of the order that should be cancelled
60	TransactTime	Y	UTC Timestamp	Timestamp with 3 decimals when the request was created

OrderCancelReject - 9

Tag	Field Name	Required	Type	Comments
11	ClOrdID	Y	string	Unique identifier for the cancellation request
41	OrigClOrdID	Y	string	Client order Id of the order that should be cancelled
39	OrdStatus	Y	char	8=Rejected
102	CxlRejReason	N	int	Rejection code
58	Text	N	string	Rejection description
434	CxlRejResponseTo	Y	char	1=OrderCancelRequest 2=OrderCancelReplaceRequest

Market Data

Sender	Message Name	Type	Comments
Client	MarketDataRequest	V	Request to subscribe and unsubscribe to market data
Server	MarketDataRequestReject	Y	Rejection of market data request
Server	MarketDataSnapshotFullRefresh	W	Market data with the option to inlcude only top-of-book or full-book

SubscribeUnsubscribe

MarketDataRequest - V

Tag	Field Name	Required	Type	Comments
262	MDReqID	Y	string	Unique identifier for the market data request. It is allowed to use the symbol, e.g. BTCUSD, as request id
263	SubscriptionRequestType	Y	char	1=Subsribe 2=Unsubscribe
264	MarketDepth	Y	int	0=Full Book 1=Top of Book
265	MDUpdateType	Y	int	0=Full Refresh
267	NoMDEntryTypes	Y	int	2. Client wants both Bid and Offer prices. Client must specify two MDEntryType fields
>269	MDEntryType	Y	char	0=Bid 1=Offer
146	NoRelatedSym	Y	int	1. Number of symbols in this request.
>55	Symbol	Y	string	ccyA/ccyB

MarketDataRequestReject - Y

Tag	Field Name	Required	Type	Comments
262	MDReqID	Y	string	Unique identifier for the market data request
58	Text	N	string	Reject reason
8001	MarketDataRejectionCode	N	int	Unique code for the reason for the rejection

MarketDataSnapshotFullRefresh - W

Tag	Field Name	Required	Type	Comments
262	MDReqID	Y	string	Unique identifier for the market data request
55	Symbol	Y	string	ccyA/ccyB
268	NoMDEntries	Y	int	Number of market data entries in this message
>269	MDEntryType	Y	char	0=Bid 1=Offer
>270	MDEntryPx	Y	decimal	Price
>271	MDEntrySize	Y	decimal	Quantity
>8002	VenueID	N	int	Id of the execution venue offering this price

Custom FIX Fields

These fields are in addition to the FIX standard.

Tag	Field Name	Type	Comments
8001	MarketDataRejectionCode	int	Unique code for the reason for the rejection
8002	VenueID	int	Id of the execution venue offering this price
8004	ToAccount	string	2nd account, if it cannot be deduced from the symbol. Account where the amount will be credited to
8007	QtyIncludesComm	bool	Quantity should include the commission amount
8012	AvailableToTrade	decimal	If TradingPolicy is violated, this is a hint what could be traded instead