TargetStrategy (FIX tag 847)

intFIX 4.4

TargetStrategy (tag 847) is an int field defined in FIX 4.4. It appears in 8 message types, always optionally. It is an enumerated field with 3 defined values.

At a glance

Tag: 847
Name: TargetStrategy
Datatype: int
Dialects: FIX 4.4
Messages: 8
Valid values: 3

What the specification says

The target strategy of the order 1000+ = Reserved and available for bi-laterally agreed upon user defined values

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

A real message using tag 847

NewOrderSingle · FIX 4.4

Tag	Field	Wire value	Meaning
8	BeginString	FIX.4.4
9	BodyLength	117
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
40	OrdType	1	Market
847	TargetStrategy	1	VWAP
10	CheckSum	008

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.

Value	Meaning	Symbolic name
1	VWAP	VWAP
2	Participate (i.e. aim to be x percent of the market volume)	PARTICIPATE
3	Minimize market impact	MININIZE_MARKET_IMPACT

Where tag 847 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	Optional	directly on the message body
ExecutionReport	8	Optional	directly on the message body
MultilegOrderCancelReplace	AC	Optional	directly on the message body
NewOrderCross	s	Optional	directly on the message body
NewOrderList	E	Optional	inside the ListOrdGrp component
NewOrderMultileg	AB	Optional	directly on the message body
NewOrderSingle	D	Optional	directly on the message body
OrderCancelReplaceRequest	G	Optional	directly on the message body

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 847 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 targetStrategy = message.fields[847]?.raw;// e.g. "1" — VWAP// The dictionary also carries the labels:const label = fix.dictionary  .fieldByTag(847)  ?.enumValues?.find((e) => e.value === targetStrategy)  ?.description;

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