Appendix 6-D
CFICode Usage — ISO 10962 Classification of Financial Instruments (CFI code)
As of FIX 4.3, the CFICode field was added to the FIX Protocol in an attempt to provide a standards-based source of security type values by using values defined in ISO 10962 standard: Classification of Financial Instruments (CFI code). Prior to FIX 4.3, the SecurityType field was used to identify security types and was based upon a set of values published by ISITC (International Securities Association for Institutional Trade Communication) which ISITC no longer maintains.
It is recommended that CFICode be used instead of SecurityType for non-Fixed Income instruments as it is based upon an ISO standard and supports non-Fixed Income products in a manner consistent with the needs of FIX Protocol users. As of FIX 4.3, the SecurityType field was expanded and re-organized to support the requirements of Fixed Income products for FIX Protocol users, as the present ISO 10962 standard did not meet those needs.
ISO 10962 is maintained by ANNA (Association of National Numbering Agencies) acting as Registration Authority. See "Appendix 6-B FIX Fields Based Upon Other Standards". See also the Product (460) and SecurityType (167) fields.
A subset of ISO 10962 values applicable to FIX usage are identified below. The official standard and set of possible values are maintained by the ISO 10962 standard and any discrepancies below should be considered typographical errors using the ISO 10962 standard as the correct set of values. To obtain the ISO 10962 standard, please contact the ISO 10962 secretariat (see "Appendix 6-B") and/or visit the ISO website at http://www.iso.ch
The ISO 10962 standard defines a 6 character code in which each character’s position value carries a special significance (attribute) and set of values. Note that "X" represents an unspecified or unknown attribute, thus it is not always necessary to specify every attribute (character position value).
High-level subset of possible values applicable to FIX usage:
Note: Corresponding FIX 4.2 SecurityType field value is identified within [ ]
ESXXXX = Equity Common Shares [CS]
EMXXXX = Equity Miscellaneous or Other (e.g. Exchange Traded Funds (ETFs), etc.) [n/a]
EPXXXX = Equity Preferred Shares [PS]
EUXXXX = Equity Units (unit trusts/mutual funds/OPCVM/OICVM) [MF]
DXXXXX = Debt (Fixed Income) [various]
DCXXXX = Debt Convertible Bond [CB]
FXXXXX = Future [FUT]
MRCXXX = Misc, Referential Instrument, Currency [FOR]
MRIXXX = Misc, Referential Instrument, Index [n/a]
MRRXXX = Misc, Referential Instrument, Interest Rate [n/a]
OCXXXX = Option - Call [OPT]
OPXXXX = Option - Put [OPT]
RWXXXX = Right Warrant [WAR]
RWXCXX = Covered Warrant [n/a]
XXXXXX = [NONE and ?]
Note that "X" represents an unspecified or unknown attribute and many of the values above containing "X" can be further subdefined according to the CFI standard (e.g. Voting rights are the third character of Equity Common Shares).
Detailed, granular subset of possible values applicable to FIX usage:
Options:
Definintion for Options (code defined by character position):
| Char 1 Category |
Char 2 Group |
Char 3 Scheme |
Char 4 Underlying Asset |
Char 5 Delivery |
Char 6 Stdized/Non-Std |
|---|---|---|---|---|---|
|
O=Options |
C=Call P=Put M=Other X=Unknown(n/a) |
A=American E=European X=Unknown(n/a) |
B=Basket S=Stock-Equities D=Interest rate/notional debt sec T=Commodiites C=Currencies I=Indices O=Options F=Futures W=Swaps M=Other X=Unknown(n/a) |
P=Physical C=Cash X=Unknown(n/a) |
S=Standardized terms (maturity date, strike price, contract size) N=Non-standardized terms X=Unknown(n/a) |
See Volume 7: "PRODUCT: DERIVATIVES" — "Use of the CFICode for Derivatives"
Examples:
| OCXXXS | Standardized Call Option |
| OPXXXS | Standardized Put Option |
| OCXFXS | Standardized Call Option on a Future |
| OPXFXS | Standardized Put Option on a Future |
| OCEFCN | Nonstandard (flex) call option on future with european style expiration and cash delivery |
| OPAFPN | Nonstandard (flex) put option on future with american style expiration and physical delivery |
| OPXSPN | Nonstandard (flex) put option on a stock with physical delivery (the expiration style is not specified – so is assumed to default to the market standard for flex options). |
| OCEICN | Nonstandard (flex) call option on an index with european style expiration and cash delivery |
Futures:
Definition for Futures (code defined by character position):
| Char 1 Category |
Char 2 Group |
Char 3 Underlying Asset |
Char 4 Delivery |
Char 5 Stdized/Non-Std |
Char 6 N/A Undefined |
|---|---|---|---|---|---|
|
F=Futures |
F=Financial Futures C=Commodity Futures M=Others X=Unknown(n/a) |
A=Agriculture, forestry, and fishing B=Basket S=Stock-Equities (for financial future) or Services (for commodities futures) D=Interest rate/notional debt sec C=Currencies I=Indices (for financial futures ) or Industrial Products (for commodities futures) O=Options F=Futures W=Swaps M=Other X=Unknown(n/a) |
P=Physical C=Cash X=Unknown(n/a) |
S=Standardized terms (maturity date, strike price, contract size) N=Non-standardized terms X=Unknown(n/a) |
X=Not applicable / undefined |
See Volume 7: "PRODUCT: DERIVATIVES" — "Use of the CFICode for Derivatives"
Examples:
| FXXXS | Standardized Future |
| FFICN | Nonstandard (flex) Financial Future on an index with cash delivery |
| FCEPN | Nonstandard (flex) Commodity Future on an extraction resource with physical delivery |
| FXXXN | Nonstandard (flex) future – contract type specified in symbology – not provided in CFICode |