> ## 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.

# Prime FIX 5.0 Venue Selection

> Choose which venues back your market data and where your spot orders route on the Coinbase Prime FIX 5.0 API.

Prime FIX 5.0 lets you choose which venues back a market data subscription and which venues a spot order can route to. You pick one of four fixed venue options. Market data uses SecurityExchange \<207> on MarketDataRequest (V); order entry uses ExDestination \<100> on NewOrderSingle (D).

Venue selection is opt-in. If you omit the tag, behavior is unchanged: market data covers all exchanges, and orders use your portfolio's default routing.

## Venue options

The same four values apply to market data and order entry.

| Value | Venue option | Market data | Order routing |
| :- | :- | :- | :- |
| `1` | Exchanges and market makers | All exchanges | Your portfolio's default routing, with no venue restriction |
| `2` | Exchanges | All exchanges | Coinbase and other exchanges only |
| `3` | Coinbase | Coinbase only | Coinbase only |
| `4` | Coinbase and market makers | Coinbase only | Coinbase and market makers only |

> [!NOTE]
>
> Market makers do not contribute to market data. On MarketDataRequest, values `1` and `2` both return the all-exchanges book, and values `3` and `4` both return the Coinbase book.

## Market data

Set SecurityExchange \<207> on each entry of the NoRelatedSym \<146> group in a [MarketDataRequest (V)](https://docs.cdp.coinbase.com/prime/fix-5-0-api/market-data.md#marketdatarequest-v). The selection applies per symbol to bids, offers, and trades.

```text theme={null}
35=V|262=req-1|263=1|264=0|265=1|267=2|269=0|269=1|146=2|55=BTC-USD|207=3|55=ETH-USD|
```

In this example, `BTC-USD` streams the Coinbase book and `ETH-USD`, which has no SecurityExchange \<207>, streams the all-exchanges book.

The server rejects the request with [MarketDataRequestReject (Y)](https://docs.cdp.coinbase.com/prime/fix-5-0-api/market-data.md#marketdatarequestreject-y) and MDReqRejReason \<281> = `7` (Other) when:

* SecurityExchange \<207> is set to a value other than `1`–`4`.
* The same symbol appears more than once with different venue options.
* A Coinbase-only symbol (`3` or `4`) requests OHLCV entry types (MDEntryType \<269> = `4`, `5`, `7`, `8`, or `B`). OHLCV data is not venue-filtered; request OHLCV without SecurityExchange \<207>, or with `1` or `2`.

Text \<58> on the reject describes the reason.

## Order entry

Set ExDestination \<100> on a spot [NewOrderSingle (D)](https://docs.cdp.coinbase.com/prime/fix-5-0-api/order-entry.md#newordersingle-d) to limit where the order can route. Order types, strategies, and time in force are unchanged.

```text theme={null}
35=D|1=<portfolio_id>|11=order-1|55=BTC-USD|167=SPOT|54=1|40=2|44=50000|38=0.01|59=1|60=20261104-12:00:00.000|100=3|
```

The selected venues are intersected with the venues enabled for your portfolio. If none of them are enabled, the order is rejected. Values other than `1`–`4` do not apply a venue option.

## What to read next

* [Market Data](https://docs.cdp.coinbase.com/prime/fix-5-0-api/market-data.md)
* [Order Entry](https://docs.cdp.coinbase.com/prime/fix-5-0-api/order-entry.md)
* [Data Dictionary](https://docs.cdp.coinbase.com/prime/fix-5-0-api/dictionaries.md)