Tag 218
SpreadToBenchmark
Abbreviation:
Description
For Fixed Income. Basis points relative to a benchmark. To be expressed as "count of basis points" (vs. an absolute value). E.g. High Grade Corporate Bonds may express price as basis points relative to benchmark (the Benchmark field). Note: Basis points can be negative.
Wire Format & Usage Example
Single field (key=value)
218=0.25
In a FIX message (IOI)
8=FIX.4.4 | 9=... | 35=6 | 49=SENDER | 56=TARGET | 34=1 | 52=20240101-09:30:00.000 | … | 218=0.25 | … | 10=...
Fields are delimited by SOH (ASCII 0x01), shown here as " | ". The highlighted field 218=0.25 is this field's position in the message.