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FIXtags

FIX TAG 587

LegSettlType

StringAdded FIX.4.3

Definition

Indicates order settlement period. If present, LegSettlDate (588) overrides this field. If both LegSettlType (587) and LegSettDate (588) are omitted, the default for LegSettlType (587) is 0 (Regular)

Regular is defined as the default settlement period for the particular security on the exchange of execution.

In Fixed Income the contents of this field may influence the instrument definition if the LegSecurityID (602) is ambiguous. In the US an active Treasury offering may be re-opened, and for a time one CUSIP will apply to both the current and "when-issued" securities. Supplying a value of "7" clarifies the instrument description; any other value or the absence of this field should cause the respondent to default to the active issue.

Additionally the following patterns may be uses as well as enum values

Dx = FX tenor expression for "days", e.g. "D5", where "x" is any integer > 0

Mx = FX tenor expression for "months", e.g. "M3", where "x" is any integer > 0

Wx = FX tenor expression for "weeks", e.g. "W13", where "x" is any integer > 0

Yx = FX tenor expression for "years", e.g. "Y1", where "x" is any integer > 0.

Note that for FX the tenors expressed using Dx, Mx, Wx, and Yx values do not denote business days, but calendar days.

Compare versions

Differences between the selected source snapshots, including wording and errata; not a migration guide.

FIX 5.0 SP2 FIX Latest · EP309

PropertyFIX 5.0 SP2FIX Latest · EP309
TypecharString

Definition text changed

FIX 5.0 SP2

Refer to values for SettlType[63]

FIX Latest · EP309

Indicates order settlement period. If present, LegSettlDate (588) overrides this field. If both LegSettlType (587) and LegSettDate (588) are omitted, the default for LegSettlType (587) is 0 (Regular)

Regular is defined as the default settlement period for the particular security on the exchange of execution.

In Fixed Income the contents of this field may influence the instrument definition if the LegSecurityID (602) is ambiguous. In the US an active Treasury offering may be re-opened, and for a time one CUSIP will apply to both the current and "when-issued" securities. Supplying a value of "7" clarifies the instrument description; any other value or the absence of this field should cause the respondent to default to the active issue.

Additionally the following patterns may be uses as well as enum values

Dx = FX tenor expression for "days", e.g. "D5", where "x" is any integer > 0

Mx = FX tenor expression for "months", e.g. "M3", where "x" is any integer > 0

Wx = FX tenor expression for "weeks", e.g. "W13", where "x" is any integer > 0

Yx = FX tenor expression for "years", e.g. "Y1", where "x" is any integer > 0.

Note that for FX the tenors expressed using Dx, Mx, Wx, and Yx values do not denote business days, but calendar days.

Values only in FIX Latest · EP309 12

  • 0Regular / FX Spot settlement (T+1 or T+2 depending on currency)
  • 1Cash (TOD / T+0)
  • 2Next Day (TOM / T+1)
  • 3T+2
  • 4T+3
  • 5T+4
  • 6Future
  • 7When And If Issued
  • 8Sellers Option
  • 9T+5
  • BBroken date
    Additional source detail

    Use within FX to specify a non-standard tenor. The use of SettlDate(64) is required to specify the actual settlement date when SettlType(63) = B (Broken date).

  • CFX Spot Next settlement (Spot+1, aka next day)

Values 12

ValueMeaning
0

Regular / FX Spot settlement (T+1 or T+2 depending on currency)

1

Cash (TOD / T+0)

2

Next Day (TOM / T+1)

3

T+2

4

T+3

5

T+4

6

Future

7

When And If Issued

8

Sellers Option

9

T+5

B

Broken date

Additional detail from the official source

Use within FX to specify a non-standard tenor. The use of SettlDate(64) is required to specify the actual settlement date when SettlType(63) = B (Broken date).

C

FX Spot Next settlement (Spot+1, aka next day)

About the String data type

Alpha-numeric free format strings, can include any character or punctuation except the delimiter. All String fields are case sensitive (i.e. morstatt != Morstatt).

Used in messages 16

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