> ## Documentation Index
> Fetch the complete documentation index at: https://docs.paxos.com/llms.txt
> Use this file to discover all available pages before exploring further.

# New Order

> New Order Single message format and fields.

## New Order

Submit new orders as **New Order Single** with **MsgType (`35`)** set to `D`.

### Identity Mapping

| Paxos API Field | FIX Tag              |
| --------------- | -------------------- |
| `customer_id`   | **Account (`1`)**    |
| `profile_id`    | **ClientID (`109`)** |

### Key Field Rules

* **Account (`1`)** is your Paxos `customer_id` and **ClientID (`109`)** is your Paxos `profile_id`.
* **Price (`44`)** must be omitted for **Market (`1`)** and **Stop Market (`3`)** orders.
* **CashOrderQty (`152`)** is required for market **buy** orders and represents the fiat notional to convert.
* **OrderQty (`38`)** is required for market **sell**, stop market sell, stop limit sell, and all limit orders.
* Send **only one** of **OrderQty (`38`)** or **CashOrderQty (`152`)**.
* **StopPx (`99`)** is required for stop market and stop limit orders. Currently only **sell stop loss** orders are supported.
* **HandlInst (`21`)** must be set to `1`.
* **Symbol (`55`)** must be the currency pair, and **SecurityType (`167`)** must be `FOR`.

### Supported Order Types

We support the following **OrdType (`40`)** values:

| Order type  | OrdType (`40`) |
| ----------- | -------------- |
| Market      | `1`            |
| Limit       | `2`            |
| Stop Market | `3`            |
| Stop Limit  | `4`            |

Post-only orders are **Limit (`2`)** orders with **ExecInst (`18`)** set to `6` (Post-Only).

### Time In Force

Time in force is set with **TimeInForce (`59`)**:

| TimeInForce (`59`) | Meaning                   |
| ------------------ | ------------------------- |
| `1`                | Good Till Cancel (GTC)    |
| `3`                | Immediate or Cancel (IOC) |
| `4`                | Fill or Kill (FOK)        |
| `6`                | Good Till Time (GTT)      |

| Order type (OrdType `40`) | Allowed TimeInForce (`59`) | Default   |
| ------------------------- | -------------------------- | --------- |
| Limit (`2`)               | `1`, `3`, `4`, `6`         | `1` (GTC) |
| Market (`1`)              | `3`                        | `3` (IOC) |
| Stop Market (`3`)         | `1`, `6`                   | `1` (GTC) |
| Stop Limit (`4`)          | `1`, `6`                   | `1` (GTC) |

For **GTT (`6`)**, include **ExpireTime (`126`)** in `YYYYMMDD-HH:MM:SS` or `YYYYMMDD-HH:MM:SS.sss` (milliseconds are ignored).

### Tick Size Requirements

**Price (`44`)** must align to market tick sizes for limit and stop limit orders:

| Market                                                                      | Tick size  | Requirement                                             |
| --------------------------------------------------------------------------- | ---------- | ------------------------------------------------------- |
| XBTUSD                                                                      | 0.25       | **Price (`44`)** must be evenly divisible by 0.25       |
| BCHUSD, ETHUSD                                                              | 0.05       | **Price (`44`)** must be evenly divisible by 0.05       |
| AAVEUSD, LINKUSD, LTCUSD, PAXGUSD, QNTUSD, SOLUSD, TRUMPUSD, UNIUSD         | 0.01       | **Price (`44`)** must be evenly divisible by 0.01       |
| ARBUSD, AVAXUSD, ENAUSD, MNTUSD, ONDOUSD, RENDERUSD, SUIUSD, WIFUSD, WLDUSD | 0.0001     | **Price (`44`)** must be evenly divisible by 0.0001     |
| DOGEUSD, PENGUUSD, SKYUSD                                                   | 0.000001   | **Price (`44`)** must be evenly divisible by 0.000001   |
| BONKUSD, PEPEUSD, SHIBUSD                                                   | 0.00000001 | **Price (`44`)** must be evenly divisible by 0.00000001 |

### Order Routing Mode

Use **OrderRoutingMode (`8000`)** to choose the routing strategy for the new order.

| OrderRoutingMode (`8000`) | Routing strategy |
| ------------------------- | ---------------- |
| `1`                       | Standard         |
| `2`                       | Best Execution   |

<Note>
  OrderRoutingMode enables Paxos Best Execution routing on eligible accounts. To confirm availability for your integration, as well as learn more about the Best Execution mode, please contact your Paxos account representative.
</Note>

<Note>
  If an invalid value is provided for **OrderRoutingMode (`8000`)**, the field is ignored and the default routing mode configured for the customer is used.
</Note>

### Maximum Notional Order Size By Type

Maximum notional limits are based on **OrdType (`40`)**:

| Order type (OrdType `40`) | Markets           | Max notional (USD) |
| ------------------------- | ----------------- | ------------------ |
| Limit (`2`)               | XBTUSD, ETHUSD    | 1,500,000          |
| Limit (`2`)               | All other markets | 1,000,000          |
| Market (`1`)              | All               | 500,000            |

### Limit Order Taker Price Protection

<Warning>
  Limit orders will be rejected if the order is taker and the **Price (`44`)** deviates by **15% or more** from the midpoint.
</Warning>

For FIX/GFIX inbound orders, this rejection is returned as an **Execution Report** with:

* **Text (`58`)** = `InvalidPriceForTakerOrder`
* **OrdRejReason (`103`)** = `0` (Broker option)

See [Execution Report - Order Reject](/guides/crypto-brokerage/fix/reference/execution-report-reject-expired#execution-report---order-reject) for the full response format.

### Message Format – Outgoing Message

#### Standard FIX Fields (All Order Types)

| Tag  | Field        | When to Include | Notes                  |
| ---- | ------------ | --------------- | ---------------------- |
| `8`  | BeginString  | Always          | Standard FIX header    |
| `9`  | BodyLength   | Always          | Standard FIX header    |
| `35` | MsgType      | Always          | `D` (New Order Single) |
| `49` | SenderCompID | Always          | Standard FIX header    |
| `56` | TargetCompID | Always          | Standard FIX header    |
| `34` | MsgSeqNum    | Always          | Standard FIX header    |
| `52` | SendingTime  | Always          | Standard FIX header    |

#### Standard FIX Trailer

| Tag  | Field    | When to Include | Notes |
| ---- | -------- | --------------- | ----- |
| `10` | CheckSum | Always          |       |

#### Common Order Fields (All Order Types)

| Tag   | Field        | When to Include | Notes                                                    |
| ----- | ------------ | --------------- | -------------------------------------------------------- |
| `11`  | ClOrdID      | Always          | Client order ID (a-z, A-Z, 0-9, `.`, `-`, `_`, `$`, `:`) |
| `109` | ClientID     | Always          | Paxos `profile_id`                                       |
| `1`   | Account      | Always          | Paxos `customer_id`                                      |
| `21`  | HandlInst    | Always          | Must be `1`                                              |
| `55`  | Symbol       | Always          | Currency pair                                            |
| `167` | SecurityType | Always          | Must be `FOR`                                            |
| `54`  | Side         | Always          | `1` = Buy, `2` = Sell                                    |
| `60`  | TransactTime | Always          |                                                          |

<Tabs>
  <Tab title="Market">
    Set **OrdType (`40`)** to `1` (Market). **Price (`44`)** must be omitted. See [Time In Force](#time-in-force) and [Maximum Notional Order Size By Type](#maximum-notional-order-size-by-type).

    **Required**

    | Tag  | Field   | When to Include | Notes        |
    | ---- | ------- | --------------- | ------------ |
    | `40` | OrdType | Always          | `1` (Market) |

    **Conditional**

    | Tag   | Field        | When to Include | Notes                    |
    | ----- | ------------ | --------------- | ------------------------ |
    | `152` | CashOrderQty | Market **buy**  | Fiat notional to convert |
    | `38`  | OrderQty     | Market **sell** | Base quantity            |

    **Optional**

    | Tag    | Field                 | When to Include     | Notes                                |
    | ------ | --------------------- | ------------------- | ------------------------------------ |
    | `59`   | TimeInForce           | To override default | Market orders default to `3` (IOC)   |
    | `2362` | SelfMatchPreventionID | If enabled          | Requires additional permissions      |
    | `5047` | AllocBrokerAccountID  | Brokerage clients   | IdentityAccountId                    |
    | `50`   | SenderSubID           | Brokerage clients   | IdentityId                           |
    | `5074` | FundCommissionOption  | Brokerage clients   |                                      |
    | `8000` | OrderRoutingMode      | If enabled          | `1` = Standard, `2` = Best Execution |
  </Tab>

  <Tab title="Limit">
    Set **OrdType (`40`)** to `2` (Limit). See [Tick Size Requirements](#tick-size-requirements), [Maximum Notional Order Size By Type](#maximum-notional-order-size-by-type), and [Limit Orders](#limit-orders).

    **Required**

    | Tag  | Field    | When to Include | Notes               |
    | ---- | -------- | --------------- | ------------------- |
    | `40` | OrdType  | Always          | `2` (Limit)         |
    | `44` | Price    | Always          | Must meet tick size |
    | `38` | OrderQty | Always          | Base quantity       |

    **Conditional**

    | Tag   | Field      | When to Include      | Notes                               |
    | ----- | ---------- | -------------------- | ----------------------------------- |
    | `18`  | ExecInst   | Post-only limit      | Set to `6`                          |
    | `126` | ExpireTime | If TimeInForce = `6` | See [Time In Force](#time-in-force) |

    **Optional**

    | Tag    | Field                 | When to Include     | Notes                                |
    | ------ | --------------------- | ------------------- | ------------------------------------ |
    | `59`   | TimeInForce           | To override default | Limit orders default to `1` (GTC)    |
    | `2362` | SelfMatchPreventionID | If enabled          | Requires additional permissions      |
    | `5047` | AllocBrokerAccountID  | Brokerage clients   | IdentityAccountId                    |
    | `50`   | SenderSubID           | Brokerage clients   | IdentityId                           |
    | `5074` | FundCommissionOption  | Brokerage clients   |                                      |
    | `8000` | OrderRoutingMode      | If enabled          | `1` = Standard, `2` = Best Execution |
  </Tab>

  <Tab title="Stop Market">
    Set **OrdType (`40`)** to `3` (Stop Market). Only **sell stop loss** orders are supported.

    **Required**

    | Tag  | Field    | When to Include | Notes                         |
    | ---- | -------- | --------------- | ----------------------------- |
    | `40` | OrdType  | Always          | `3` (Stop Market)             |
    | `99` | StopPx   | Always          | Stop price                    |
    | `38` | OrderQty | Always          | Stop Market **sell** quantity |

    **Conditional**

    | Tag   | Field      | When to Include      | Notes                               |
    | ----- | ---------- | -------------------- | ----------------------------------- |
    | `126` | ExpireTime | If TimeInForce = `6` | See [Time In Force](#time-in-force) |

    **Optional**

    | Tag    | Field                 | When to Include     | Notes                                |
    | ------ | --------------------- | ------------------- | ------------------------------------ |
    | `59`   | TimeInForce           | To override default | Stop Market defaults to `1` (GTC)    |
    | `2362` | SelfMatchPreventionID | If enabled          | Requires additional permissions      |
    | `5047` | AllocBrokerAccountID  | Brokerage clients   | IdentityAccountId                    |
    | `50`   | SenderSubID           | Brokerage clients   | IdentityId                           |
    | `5074` | FundCommissionOption  | Brokerage clients   |                                      |
    | `8000` | OrderRoutingMode      | If enabled          | `1` = Standard, `2` = Best Execution |
  </Tab>

  <Tab title="Stop Limit">
    Set **OrdType (`40`)** to `4` (Stop Limit). See [Tick Size Requirements](#tick-size-requirements).

    **Required**

    | Tag  | Field    | When to Include | Notes               |
    | ---- | -------- | --------------- | ------------------- |
    | `40` | OrdType  | Always          | `4` (Stop Limit)    |
    | `44` | Price    | Always          | Must meet tick size |
    | `99` | StopPx   | Always          | Stop price          |
    | `38` | OrderQty | Always          | Base quantity       |

    **Conditional**

    | Tag   | Field      | When to Include      | Notes                               |
    | ----- | ---------- | -------------------- | ----------------------------------- |
    | `126` | ExpireTime | If TimeInForce = `6` | See [Time In Force](#time-in-force) |

    **Optional**

    | Tag    | Field                 | When to Include     | Notes                                |
    | ------ | --------------------- | ------------------- | ------------------------------------ |
    | `59`   | TimeInForce           | To override default | Stop Limit defaults to `1` (GTC)     |
    | `2362` | SelfMatchPreventionID | If enabled          | Requires additional permissions      |
    | `5047` | AllocBrokerAccountID  | Brokerage clients   | IdentityAccountId                    |
    | `50`   | SenderSubID           | Brokerage clients   | IdentityId                           |
    | `5074` | FundCommissionOption  | Brokerage clients   |                                      |
    | `8000` | OrderRoutingMode      | If enabled          | `1` = Standard, `2` = Best Execution |
  </Tab>
</Tabs>