FIX Tag 54 – Side

Side specifies whether an order is a Buy (1) or Sell (2). Additional values include: 3=SellShort, 4=SellShortExempt, 5=Cross, 6=CrossShort, 7=CrossShortExempt, 8=AsDefined, 9=Opposite, A=Subscribe, B=Redeem, C=Lend, D=Borrow.

Correct Usage

Set Side=1 for Buy orders, Side=2 for Sell orders. Side is mandatory for all order messages (NewOrderSingle, OrderCancelReplaceRequest) and execution reports. Verify which Side values your broker supports.

Common Issues

1) Missing Side triggers RefTagID=54 reject, 2) Invalid Side value (e.g., Side=0 or Side=99), 3) Side not matching order intent, 4) Side enum not supported by broker, 5) Side missing from replace/cancel requests when required.

Example FIX Message

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