Tag 825
ExchangeRule
Abbreviation:
ExchRuleDescription
Used to report any exchange rules that apply to this trade.
Primarily intended for US futures markets. Certain trading practices are permitted by the CFTC, such as large lot trading, block trading, all or none trades. If the rules are used, the exchanges are required to indicate these rules on the trade.
Wire Format & Usage Example
Single field (key=value)
825=XNAS
In a FIX message (TradeCaptureReport)
8=FIX.4.4 | 9=... | 35=AE | 49=SENDER | 56=TARGET | 34=1 | 52=20240101-09:30:00.000 | … | 825=XNAS | … | 10=...
Fields are delimited by SOH (ASCII 0x01), shown here as " | ". The highlighted field 825=XNAS is this field's position in the message.