Instructions for order handling on exchange trading floor. If more than one instruction is applicable to an order, this field can contain multiple instructions separated by space.
| Code | Meaning |
|---|---|
| 1 | Not held |
| 2 | Work |
| 3 | Go along |
| 4 | Over the day |
| 5 | Held |
| 6 | Participate don't initiate |
| 7 | Strict scale |
| 8 | Try to scale |
| 9 | Stay on bidside |
| 0 | Stay on offerside |
| A | No cross (cross is forbidden) |
| B | OK to cross |
| C | Call first |
| D | Percent of volume. Indicates that the sender does not want to be all the volume on the floor versus a specific percentage. |
| E | Do not increase - DNI |
| F | Do not reduce - DNR |
| G | All or none - AON |
| H | Reinstate on System Failure (mutually exclusive with Q) |
| I | Institutions only |
| J | Reinstate on Trading Halt (mutually exclusive with K) |
| K | Cancel on Trading Halt (mutually exclusive with L) |
| L | Last peg (last sale) |
| M | Mid-price peg (midprice of inside quote) |
| N | Non-negotiable |
| O | Opening peg |
| P | Market peg |
| Q | Cancel on System Failure (mutually exclusive with H) |
| R | Primary peg (primary market - buy at bid/sell at offer) |
| S | Suspend |
| U | Customer Display Instruction (Rule11Ac1-1/4) |
| V | Netting (for Forex) |
| W | Peg to VWAP |
| X | Trade Along |
| Y | Try to Stop |
| Z | Cancel if Not Best |
| a | Trailing Stop Peg |
| b | Strict Limit (No Price Improvement) |
| c | Ignore Price Validity Checks |
| d | Peg to Limit Price |
| e | Work to Target Strategy |