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title: "FIX 5.0 SP2 EP299: ExpirationCycle <827> field – FIX Dictionary – Onix Solutions"
description: " "
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# ExpirationCycle <827> field
## FIX 5.0 SP2 EP299
### Description
Type: [int](https://www.onixs.biz/fix-dictionary/5.0.sp2.ep299/index.html#int)
Part of trading cycle when an instrument expires. Field is applicable for derivatives.
Valid values:
- 0 = Expire on trading session close (default)
- 1 = Expire on trading session open
- 2 = Trading eligibility expiration specified in the date and time fields [[EventDate <866>](https://www.onixs.biz/fix-dictionary/5.0.sp2.ep299/tagNum_866.html) and [EventTime <1145>](https://www.onixs.biz/fix-dictionary/5.0.sp2.ep299/tagNum_1145.html)] associated with [EventType <865>](https://www.onixs.biz/fix-dictionary/5.0.sp2.ep299/tagNum_865.html)=7(Last Eligible Trade Date)
### Used In
- [](https://www.onixs.biz/fix-dictionary/5.0.sp2.ep299/compBlock_BaseTradingRules.html)
- [SecurityDefinitionRequest ](https://www.onixs.biz/fix-dictionary/5.0.sp2.ep299/msgType_c_99.html)
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