OrderPercent (FIX tag 516)

PercentageFIX 4.4

OrderPercent (tag 516) is a Percentage field defined in FIX 4.4. It appears in 18 message types, always optionally.

At a glance

Tag: 516
Name: OrderPercent
Datatype: Percentage (float)
Dialects: FIX 4.4
Messages: 18

What the specification says

For CIV specifies the approximate order quantity desired. For a CIV Sale it specifies percentage of investor’s total holding to be sold. For a CIV switch/exchange it specifies percentage of investor’s cash realised from sales to be re-invested. The executing broker, intermediary or fund manager is responsible for converting and calculating OrderQty (38) in shares/units for subsequent messages.

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

A real message using tag 516

NewOrderSingle · FIX 4.4

Tag	Field	Wire value	Meaning
8	BeginString	FIX.4.4
9	BodyLength	120
35	MsgType	D	Order – Single
49	SenderCompID	BOARTEAM
56	TargetCompID	COUNTERPARTY
34	MsgSeqNum	2
52	SendingTime	20240101-12:00:00.000
11	ClOrdID	ORD-10042
54	Side	1	Buy
60	TransactTime	20240101-12:00:00.000
516	OrderPercent	0.05
40	OrdType	1	Market
10	CheckSum	141

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.

Where tag 516 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.

Message	MsgType	Requiredness	Where in the message
CrossOrderCancelReplaceRequest	t	Conditional	inside SideCrossOrdModGrp › OrderQtyData
CrossOrderCancelRequest	u	Conditional	inside SideCrossOrdCxlGrp › OrderQtyData
DontKnowTrade	Q	Conditional	inside the OrderQtyData component
ExecutionReport	8	Conditional	inside the OrderQtyData component
IOI	6	Conditional	inside the OrderQtyData component
MultilegOrderCancelReplace	AC	Conditional	inside the OrderQtyData component
NewOrderCross	s	Conditional	inside SideCrossOrdModGrp › OrderQtyData
NewOrderList	E	Conditional	inside ListOrdGrp › OrderQtyData
NewOrderMultileg	AB	Conditional	inside the OrderQtyData component
NewOrderSingle	D	Conditional	inside the OrderQtyData component
OrderCancelReplaceRequest	G	Conditional	inside the OrderQtyData component
OrderCancelRequest	F	Conditional	inside the OrderQtyData component
Quote	S	Conditional	inside the OrderQtyData component
QuoteRequest	R	Conditional	inside QuotReqGrp › OrderQtyData
QuoteRequestReject	AG	Conditional	inside QuotReqRjctGrp › OrderQtyData
QuoteResponse	AJ	Conditional	inside the OrderQtyData component
QuoteStatusReport	AI	Conditional	inside the OrderQtyData component
TradeCaptureReport	AE	Conditional	inside the OrderQtyData component

Wire format

A decimal rate where 1.0 means 100%, not 1%. @boarteam/fix parses the value as a number and reports parse/invalid-float when it does not lex as one; the raw string is kept so precision and trailing zeros are never lost.

Read tag 516 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 field = message.fields[516];field?.name;   // "OrderPercent"field?.raw;    // the verbatim wire stringfield?.value;  // coerced to a number

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

Try the decoder Source on GitHub