ExpirationCycle (FIX tag 827)
ExpirationCycle (tag 827) is an int field defined in FIX 4.4 and FIX 5.0 SP2. It appears in 4 message types, always optionally. It is an enumerated field with 2 defined values.
At a glance
- Tag
- 827
- Name
- ExpirationCycle
- Datatype
- int
- Dialects
- FIX 4.4 and FIX 5.0 SP2
- Messages
- 4
- Valid values
- 2
What the specification says
Part of trading cycle when an instrument expires. Field is applicable for derivatives.
Descriptions are quoted from the FIX Orchestra sources under the Apache 2.0 licence.
A real message using tag 827
| Tag | Field | Wire value | Meaning |
|---|---|---|---|
| 8 | BeginString | FIX.4.4 | |
| 9 | BodyLength | 87 | |
| 35 | MsgType | c | Security Definition Request |
| 49 | SenderCompID | BOARTEAM | |
| 56 | TargetCompID | COUNTERPARTY | |
| 34 | MsgSeqNum | 2 | |
| 52 | SendingTime | 20240101-12:00:00.000 | |
| 320 | SecurityReqID | EXAMPLE | |
| 321 | SecurityRequestType | 0 | Request Security identity and specifications |
| 827 | ExpirationCycle | 0 | Expire on trading session close (default) |
| 10 | CheckSum | 217 |
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.
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.
| Value | Meaning | Symbolic name | Dialects |
|---|---|---|---|
| 0 | Expire on trading session close (default) | EXPIRE_ON_TRADING_SESSION_CLOSE | FIX 4.4, FIX 5.0 SP2 |
| 1 | Expire on trading session open | EXPIRE_ON_TRADING_SESSION_OPEN | FIX 4.4, FIX 5.0 SP2 |
| 2 | Trading eligibility expiration specified in the date and time fields [EventDate(866) and EventTime(1145)] associated with EventType(865)=7(Last Eligible Trade Date) | TRADING_ELIGIBILITY_EXPIRATION_SPECIFIED_IN_THE_DATE_AND_TIME_FIELDS_EVENTDATE | FIX 5.0 SP2 |
Where tag 827 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 | FIX 4.4 | FIX 5.0 SP2 | Where in the message |
|---|---|---|---|---|
| DerivativeSecurityList | AA | Optional | Optional | inside the RelSymDerivSecGrp component |
| DerivativeSecurityListUpdateReport | BR | — | Optional | inside DerivativeSecurityDefinition › MarketSegmentGrp › SecurityTradingRules › BaseTradingRules |
| MarketDefinition | BU | — | Optional | inside the BaseTradingRules component |
| MarketDefinitionUpdateReport | BV | — | Optional | inside the BaseTradingRules component |
| SecurityDefinition | d | Optional | Optional | directly on the message body |
| SecurityDefinitionRequest | c | Optional | Optional | directly on the message body |
| SecurityDefinitionUpdateReport | BP | — | Optional | inside MarketSegmentGrp › SecurityTradingRules › BaseTradingRules |
| SecurityList | y | Optional | Optional | inside the SecListGrp component |
| SecurityListUpdateReport | BK | — | Optional | inside SecLstUpdRelSymGrp › SecurityTradingRules › BaseTradingRules |
Wire format
A whole number, optionally signed. Leading zeros are legal on the wire and are preserved in the raw value. @boarteam/fix parses the value as a number and reports parse/invalid-int when it does not lex as one; the raw string is kept either way.
Read tag 827 in TypeScript
import { createFixEngine } from "@boarteam/fix";import { dictionary } from "@boarteam/fix-dict-fix44";const fix = createFixEngine(dictionary);const { message, issues } = fix.parse(raw);const expirationCycle = message.fields[827]?.raw;// e.g. "0" — Expire on trading session close (default)// The dictionary also carries the labels:const label = fix.dictionary .fieldByTag(827) ?.enumValues?.find((e) => e.value === expirationCycle) ?.description;Other int fields
- 826TradeAllocIndicator
- 828TrdType
- 829TrdSubType
- 832TotNumAssignmentReports
- 819AvgPxIndicator
- 835PegMoveType
- 836PegOffsetType
- 837PegLimitType
- 838PegRoundDirection
- 815ApplQueueAction
- 814ApplQueueResolution
- 840PegScope
- 813ApplQueueDepth
- 841DiscretionMoveType
- 812ApplQueueMax
- 842DiscretionOffsetType
- 843DiscretionLimitType
- 844DiscretionRoundDirection
- 808AllocIntermedReqType
- 846DiscretionScope
- 807Nested2PartySubIDType
- 847TargetStrategy
- 805NestedPartySubIDType
- 803PartySubIDType
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