FIXMsgType 35=V

Market Data Request (35=V)

FIX 4.4 Gateway TLS/TCP

The client sends MarketDataRequest (35=V) to the server over TLS/TCP. This is not an HTTP request.

Subscribe to or snapshot an order book on a market data session (56=BITGO-MD), separate from the order-entry session (BITGO).

Subscribe: set 263=1 and 265=1. Tag 262 (MDReqID) must be unique per subscription. Tag 264 (MarketDepth): 0 = full book (up to 100 levels per side), 1–100 = top N. Values of 101+ are rejected (281=5).

Snapshot only: set 263=0 for a one-time snapshot with no ongoing subscription.

Unsubscribe: send 263=2 with the same 262 used at subscription time.

Responses: initial MarketDataSnapshotFullRefresh (35=W), then Incremental Refresh (35=X) on updates (~300 ms cycle), or MarketDataRequestReject (35=Y) on error.

Subscription limits: 50 active subscriptions per session; 20 symbols per single request; 100 total symbols per enterprise across all sessions.

Gap detection: tag 83 (RptSeq) is not present on 35=X. Use session-level MsgSeqNum (34) for gap detection. QuickFIX manages this automatically. On gap, resubscribe with 263=1.

Message fields

Tag	Field	Required	Description
262	MDReqID	Required	Required. Client-assigned request ID; must be unique per active subscription.
263	SubscriptionRequestType	Required	Required. `0` Snapshot only, `1` Snapshot + Subscribe, `2` Unsubscribe.
264	MarketDepth	Required	Required. `0` = full book (up to 100 levels/side); `1`–`100` = top N. Values ≥ 101 → reject `281=5`.
265	MDUpdateType	Optional	Optional. Defaults to `0` (Full Refresh) if omitted; set `265=1` explicitly for incremental updates on a live subscription. `0` = Full Refresh, `1` = Incremental updates.
267	NoMDEntryTypes	Required	Required. Number of MDEntryType (269) values that follow. Typically `2` (Bid + Offer).
269	MDEntryType	Required	Required (repeating). `0` = Bid, `1` = Offer. Trade (`2`) is not supported → reject `281=8`.
146	NoRelatedSym	Required	Required. Number of symbols in this request. Max 20 symbols per request.
55	Symbol	Required	Required (repeating under 146). Product symbol. Limits: 50 subscriptions/session; 100 symbols/enterprise across sessions.

Response messages

On success
Subscription active; MarketDataSnapshotFullRefresh follows, then incremental updates.
On reject
MarketDataRequestReject (35=Y).

Examples

Examples (pipe-delimited FIX):

Subscribe to BTC-USD top 10 levels (incremental):

8=FIX.4.4|9=152|35=V|49=0123456789abcdef0123456789abcdef|56=BITGO-MD|34=5|52=20260415-14:30:00.000|262=md-req-001|263=1|264=10|265=1|267=2|269=0|269=1|146=1|55=BTC-USD|10=XXX

Snapshot only (no ongoing subscription):

8=FIX.4.4|9=145|35=V|49=0123456789abcdef0123456789abcdef|56=BITGO-MD|34=6|52=20260415-14:30:01.000|262=md-req-002|263=0|264=1|267=2|269=0|269=1|146=1|55=ETH-USD|10=XXX

Unsubscribe:

8=FIX.4.4|9=145|35=V|49=0123456789abcdef0123456789abcdef|56=BITGO-MD|34=7|52=20260415-14:30:02.000|262=md-req-003|263=2|264=1|267=2|269=0|269=1|146=1|55=BTC-USD|10=XXX