Time in Force
| TIF / Order Type | FIX encoding | Behavior |
|---|---|---|
| Day / Good Till Cancel (GTC) | 59=0 | Default for Limit Orders and Quotes. 59=0 (Day) behaves as good-till-cancel for the trading day — do not send 59=1. Rests on the book until filled or canceled; expires at end of day. |
| Immediate or Cancel (IoC) | 59=3 | Fills as much as possible on arrival; any remainder is canceled immediately. Never rests on the book. Always applied to Market Orders; optional for Limit Orders. |
| Fill or Kill (FoK) | 59=4 | Must fill completely on arrival (in one or more executions); if it cannot, the entire order is canceled. Never rests on the book. |
| All or None (AoN) | ExecInst=G (18) | Like FoK, but if it cannot fill in full on arrival it rests on the book until it can be filled in full. |
| Single Fill or Cancel (SFC) | ExecInst=Z (18) | Like IoC, but must fill the entire quantity in a single execution off the top of book — no partial fills, no sweeps. If the order cannot be fully filled in one fill on arrival, it is canceled immediately. |
AoN and SFC are order types encoded via ExecInst (18); when ExecInst is set, TimeInForce (59) is ignored.