MarginRatio (FIX tag 898)

PercentageFIX 4.4FIX 5.0 SP2

MarginRatio (tag 898) is a Percentage field defined in FIX 4.4 and FIX 5.0 SP2. It appears in 26 message types, always optionally.

At a glance

Tag: 898
Name: MarginRatio
Datatype: Percentage (float)
Dialects: FIX 4.4 and FIX 5.0 SP2
Messages: 26

What the specification says

The fraction of the cash consideration that must be collateralized, expressed as a percent. A MarginRatio of 02% indicates that the value of the collateral (after deducting for "haircut") must exceed the cash consideration by 2%.

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

A real message using tag 898

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
898	MarginRatio	0.05
54	Side	1	Buy
60	TransactTime	20240101-12:00:00.000
40	OrdType	1	Market
10	CheckSum	154

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 898 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
AllocationInstruction	J	Optional	Optional	inside the FinancingDetails component
AllocationInstructionAlert	BM	—	Optional	inside the FinancingDetails component
AllocationReport	AS	Optional	Optional	inside the FinancingDetails component
CollateralAssignment	AY	Optional	Optional	inside the FinancingDetails component
CollateralInquiry	BB	Optional	Optional	inside the FinancingDetails component
CollateralInquiryAck	BG	Optional	Optional	inside the FinancingDetails component
CollateralReport	BA	Optional	Optional	inside the FinancingDetails component
CollateralRequest	AX	Optional	Optional	inside the FinancingDetails component
CollateralResponse	AZ	Optional	Optional	inside the FinancingDetails component
Confirmation	AK	Optional	Optional	inside the FinancingDetails component
ExecutionReport	8	Optional	Optional	inside the FinancingDetails component
IOI	6	Optional	Optional	inside the FinancingDetails component
NewOrderSingle	D	Optional	Optional	inside the FinancingDetails component
OrderCancelReplaceRequest	G	Optional	Optional	inside the FinancingDetails component
OrderCancelRequest	F	Optional	Optional	inside the FinancingDetails component
OrderStatusRequest	H	Optional	Optional	inside the FinancingDetails component
Quote	S	Optional	Optional	inside the FinancingDetails component
QuoteCancel	Z	Optional	Optional	inside QuotCxlEntriesGrp › FinancingDetails
QuoteRequest	R	Optional	Optional	inside QuotReqGrp › FinancingDetails
QuoteRequestReject	AG	Optional	Optional	inside QuotReqRjctGrp › FinancingDetails
QuoteResponse	AJ	Optional	Optional	inside the FinancingDetails component
QuoteStatusReport	AI	Optional	Optional	inside the FinancingDetails component
QuoteStatusRequest	a	Optional	Optional	inside the FinancingDetails component
SecurityList	y	Optional	Optional	inside SecListGrp › FinancingDetails
SecurityListRequest	x	Optional	Optional	inside the FinancingDetails component
SecurityListUpdateReport	BK	—	Optional	inside SecLstUpdRelSymGrp › FinancingDetails
TradeCaptureReport	AE	Optional	Optional	inside the FinancingDetails component
TradeCaptureReportRequest	AD	Optional	Optional	inside the FinancingDetails 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 898 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[898];field?.name;   // "MarginRatio"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