> ## Documentation Index
> Fetch the complete documentation index at: https://docs.cdp.coinbase.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Coinbase Derivatives: Predictions FIX Overview

Coinbase Derivatives: Predictions provides three FIX gateways:

* [Order Entry](/derivatives-predictions/fix/order-entry) (Trade): Submit and cancel orders, receive execution and settlement reports, and recover missed fills.
* [Market Data](/derivatives-predictions/fix/market-data) (Pre-trade): Subscribe to order books, public trades, trade volume, open interest, and instrument status changes.
* [Drop Copy](/derivatives-predictions/fix/drop-copy) (Post-trade): Receive a read-only copy of execution reports and market settlement reports for every order in your firm or FCM.

> [!NOTE]
>
> All three gateways use FIX 5.0 SP2 application messages over the FIXT.1.1 session protocol: `BeginString (8) = FIXT.1.1` and `DefaultApplVerID (1137) = 9`.

Hosts and ports are listed on the [Coinbase Derivatives: Predictions Connectivity](/derivatives-predictions/connectivity) page.

## Gateways

Differences between the gateways are in **bold**.

| Property | Order Entry | Market Data | Drop Copy |
| :- | :- | :- | :- |
| Purpose | Submit and cancel orders. Receive execution reports, cancel rejects, mass cancel reports, and optional settlement reports for your API key. | Receive order books, public trades, trade volume, open interest, and instrument status. | Receive a read-only copy of execution reports and settlement reports for your firm or FCM. |
| TargetCompID (56) | **`CPMOE`** | **`CPMMD`** | **`CBPMDC`** |
| Required API key permission | **`TRADE`** | **`MARKET_DATA`** | **`DROP_COPY`** |
| Key level and scope | Firm or FCM key. **You receive reports for orders placed with your API key.** An FCM key names the executing firm on each order. | Firm or FCM key. **Data is public and the same for every key.** | Firm or FCM key. **You receive reports for every order in your firm (firm key) or in every firm that clears through your FCM (FCM key).** |
| Sessions per API key | **One** | **Several**, with a tagged SenderCompID | **One** |
| Fill replay | **Yes.** [EventResendRequest (35=F3)](/derivatives-predictions/fix/session#eventresendrequest-35f3), **30-minute** window. | **No** | **Yes.** [EventResendRequest (35=F3)](/derivatives-predictions/fix/session#eventresendrequest-35f3), **24-hour** window. |

> [!TIP]
>
> Messages are comprised of required (`Y`), optional (`N`) and conditionally required (`C`). Conditional fields are "pass-through," or required based on the presence or value of other fields.

## Required identifiers

Every message carries `SenderCompID (49)` and `TargetCompID (56)` in the [Standard header](/derivatives-predictions/fix/header-trailer#standard-header).

| Tag | Field | You to Exchange | Exchange to You |
| :- | :- | :- | :- |
| 49 | SenderCompID | Your API key. **Market data only:** your API key with an optional session tag. | The gateway's TargetCompID. |
| 56 | TargetCompID | **Order entry:** `CPMOE`; **Market data:** `CPMMD`; **Drop copy:** `CBPMDC` | Your SenderCompID. |

The API key is authenticated on [Logon (35=A)](/derivatives-predictions/fix/session#logon-35a) with your passphrase and an HMAC signature.

## Pages

* [Header/Trailer](/derivatives-predictions/fix/header-trailer): Standard header and trailer fields for all three gateways.
* [Session](/derivatives-predictions/fix/session): Logon, Logon signature, session messages, sequence recovery, fill recovery (35=F1 to 35=F5), and cancel on disconnect.
* [Market Data](/derivatives-predictions/fix/market-data): Market data application messages.
* [Order Entry](/derivatives-predictions/fix/order-entry): Order entry application messages.
* [Drop Copy](/derivatives-predictions/fix/drop-copy): Drop copy application messages.