TradeCondition (FIX tag 277)

MultipleValueStringFIX 4.4FIX 4.2

TradeCondition (tag 277) is a MultipleValueString field defined in FIX 4.4 and FIX 4.2. It appears in 2 message types, always optionally. It is an enumerated field with 17 defined values.

At a glance

Tag
277
Name
TradeCondition
Datatype
MultipleValueString (String)
Dialects
FIX 4.4 and FIX 4.2
Messages
2
Valid values
17

What the specification says

Space-delimited list of conditions describing a trade

Descriptions are quoted from the FIX Orchestra sources under the Apache 2.0 licence.

A real message using tag 277

MarketDataSnapshotFullRefresh · FIX 4.4
TagFieldWire valueMeaning
8BeginStringFIX.4.4
9BodyLength93
35MsgTypeWMarket Data-Snapshot/Full Refresh
49SenderCompIDBOARTEAM
56TargetCompIDCOUNTERPARTY
34MsgSeqNum2
52SendingTime20240101-12:00:00.000
268NoMDEntries2 entries2repeating group
269MDEntryType0Bid
277TradeConditionACash (only) Market
269MDEntryType0Bid
277TradeConditionACash (only) Market
10CheckSum068
Edit and decode it yourself

Shown with | separators for readability. On the wire FIX uses SOH (0x01), an invisible control byte — and because BodyLength and CheckSum are computed over the actual bytes, the two forms have different checksums. Both are valid and both decode here.

Open in the full decoder →

Generated from the FIX 4.4 dictionary and verified at build time: it parses and validates with no issues. Open the decoder to try your own message.

Valid values

A value outside this list is not a parse error — the message still decodes — but validate() reports it as validate/value-not-in-enum.

ValueMeaningSymbolic nameDialects
ACash (only) MarketCASH / CashFIX 4.4, FIX 4.2
BAverage Price TradeAVERAGE_PRICE_TRADE / AveragePriceTradeFIX 4.4, FIX 4.2
CCash Trade (same day clearing)CASH_TRADE / CashTradeFIX 4.4, FIX 4.2
DNext Day (only) MarketNEXT_DAY / NextDayFIX 4.4, FIX 4.2
EOpening / Reopening Trade DetailOPENING / OpeningFIX 4.4, FIX 4.2
FIntraday Trade DetailINTRADAY_TRADE_DETAIL / IntradayTradeDetailFIX 4.4, FIX 4.2
GRule 127 Trade (NYSE)RULE_127_TRADE / Rule127TradeFIX 4.4, FIX 4.2
HRule 155 Trade (Amex)RULE_155_TRADE / Rule155TradeFIX 4.4, FIX 4.2
ISold Last (late reporting)SOLD_LAST / SoldLastFIX 4.4, FIX 4.2
JNext Day Trade (next day clearing)NEXT_DAY_TRADE / NextDayTradeFIX 4.4, FIX 4.2
KOpened (late report of opened trade)OPENED / OpenedFIX 4.4, FIX 4.2
LSellerSELLER / SellerFIX 4.4, FIX 4.2
MSold (out of sequence)SOLD / SoldFIX 4.4, FIX 4.2
NStopped Stock (guarantee of price but does not execute the order)STOPPED_STOCK / StoppedStockFIX 4.4, FIX 4.2
PImbalance More Buyers (Cannot be used in combination with Q)IMBALANCE_MORE_BUYERSFIX 4.4
QImbalance More Sellers (Cannot be used in combination with P)IMBALANCE_MORE_SELLERSFIX 4.4
ROpening PriceOPENING_PRICEFIX 4.4

Where tag 277 appears

Requiredness is a property of the message, not of the field: the same tag can be optional in one message and conditionally required in another.

MessageMsgTypeFIX 4.4FIX 4.2Where in the message
MarketDataIncrementalRefreshXOptionalOptionalinside the MDIncGrp component
MarketDataSnapshotFullRefreshWOptionalOptionalinside the MDFullGrp component

Wire format

Several values in one field, separated by spaces. Decoders return an array. @boarteam/fix splits the value on its delimiter and returns an array of strings.

Read tag 277 in TypeScript

decode.tsts
import { createFixEngine } from "@boarteam/fix";import { dictionary } from "@boarteam/fix-dict-fix44";const fix = createFixEngine(dictionary);const { message, issues } = fix.parse(raw);const tradeCondition = message.fields[277]?.raw;// e.g. "A" — Cash (only) Market// The dictionary also carries the labels:const label = fix.dictionary  .fieldByTag(277)  ?.enumValues?.find((e) => e.value === tradeCondition)  ?.description;

Other MultipleValueString fields

Decode this in your own code

The same engine that produced the decoded example above is an Apache-2.0 npm package with zero runtime dependencies. It runs in Node and in the browser, and parse() returns problems as data instead of throwing.

npm i @boarteam/fix @boarteam/fix-dict-fix44