UnderlyingSettlementStatus (FIX tag 988)

StringFIX 5.0 SP2

UnderlyingSettlementStatus (tag 988) is a String field defined in FIX 5.0 SP2. It appears in 1 message type, always optionally.

At a glance

Tag: 988
Name: UnderlyingSettlementStatus
Datatype: String
Dialects: FIX 5.0 SP2
Messages: 1

What the specification says

Settlement status of the underlying instrument. Used for derivatives that deliver into more than one underlying instrument. Settlement can be delayed for an underlying instrument.

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

A real message using tag 988

PositionReport · FIX 5.0 SP2

Tag	Field	Wire value	Meaning
8	BeginString	FIXT.1.1
9	BodyLength	165
35	MsgType	AP	PositionReport
49	SenderCompID	BOARTEAM
56	TargetCompID	COUNTERPARTY
34	MsgSeqNum	2
52	SendingTime	20240101-12:00:00.000
721	PosMaintRptID	EXAMPLE
715	ClearingBusinessDate	20240101
711	NoUnderlyings1 entry	1	repeating group
311	UnderlyingSymbol	EXAMPLE
984	NoUnderlyingAmounts2 entries	2	repeating group
985	UnderlyingPayAmount	125000.00
988	UnderlyingSettlementStatus	EXAMPLE
985	UnderlyingPayAmount	125000.00
988	UnderlyingSettlementStatus	EXAMPLE
10	CheckSum	239

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 5.0 SP2 dictionary and verified at build time: it parses and validates with no issues. Open the decoder to try your own message.

Where tag 988 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
PositionReport	AP	Optional	inside PosUndInstrmtGrp › UnderlyingAmount

Wire format

Free-form text. Any byte except the SOH separator is legal, so values are not trimmed or case-folded on the wire. @boarteam/fix keeps the value as a string; format rules are checked by validate(), which reports validate/invalid-value rather than throwing.

Read tag 988 in TypeScript

decode.tsts

import { createFixEngine } from "@boarteam/fix";import { dictionary } from "@boarteam/fix-dict-fix50sp2";const fix = createFixEngine(dictionary);const { message, issues } = fix.parse(raw);const field = message.fields[988];field?.name;   // "UnderlyingSettlementStatus"field?.raw;    // the verbatim wire stringfield?.value;  // coerced to a string

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-fix50sp2

Try the decoder Source on GitHub