This message contains quotes for a single instrument, an indication of the current price. It's used in response to a Quote Request <35=R> and may also be unsolicited.
If responding to a Quote Request <35=R>, this message must include the QuoteReqID (131) from the request. Unsolicited quotes will omit that field.
If the quote requires a response then QuoteResponseLevel (301) should be populated.
A quote can be canceled either using the Quote Cancel <35=Z> message or by sending a quote message with BidPx (132), OfferPx (133), BidSize (134) and OfferSize (135) all set to zero.
The time in force for a quote is determined by agreement between counterparties.
In tradeable and restricted-tradeable quoting models, the market maker sends quotes into a market as opposed to sending quotes directly to a counterparty. For fixed income in the indicative and tradeable quoting models, the quotes are typically sent directly to an interested counterparty.
This message should not be used in tradeable and restricted-tradeable quoting markets to broadcast quotes to market participants. The recommended approach to reporting market state changes that result from quotes received by a market is to use market data messages.
Orders can be created from quotes. Quoted orders include the QuoteID (117) and OrdType (40) = "previously quoted".
| Tag | Name | Type | Required | Description |
|---|---|---|---|---|
| Component | ||||
| 131 | String | Required when quote is in response to a Quote Request message
| ||
| 117 | String | |||
| 301 | Int Enum | Level of Response requested from receiver of quote messages
| ||
| 336 | String | |||
| 55 | String | |||
| 65 | String | |||
| 48 | String | |||
| 22 | String Enum | |||
| 167 | String Enum | Must be specified if a Future or Option. If a Future: Symbol, SecurityType, and
MaturityMonthYear are required. If an Option: Symbol, SecurityType, MaturityMonthYear,
PutOrCall, and StrikePrice are required
| ||
| 200 | MonthYear | Specifies the month and year of maturity. Required if MaturityDay is specified
| ||
| 205 | DayOfMonth | Can be used in conjunction with MaturityMonthYear to specify a particular maturity date
| ||
| 201 | Int Enum | For Options
| ||
| 202 | Price | For Options
| ||
| 206 | Char | For Options
| ||
| 231 | Float | For Fixed Income, Convertible Bonds, Derivatives, etc. Note: If used, quantities should be
expressed in the "nominal" (e.g. contracts vs. shares) amount
| ||
| 223 | Float | For Fixed Income
| ||
| 207 | Exchange | Can be used to identify the security
| ||
| 106 | String | |||
| 348 | Int | Must be set if EncodedIssuer field is specified and must immediately precede it
| ||
| 349 | Data | Encoded (non-ASCII characters) representation of the Issuer field in the encoded format
specified via the MessageEncoding field
| ||
| 107 | String | |||
| 350 | Int | Must be set if EncodedSecurityDesc field is specified and must immediately precede it
| ||
| 351 | Data | Encoded (non-ASCII characters) representation of the SecurityDesc field in the encoded
format specified via the MessageEncoding field
| ||
| 132 | Price | If F/X quote, should be the "all-in" rate (spot rate adjusted for forward points). Note that
either BidPx, OfferPx or both must be specified
| ||
| 133 | Price | If F/X quote, should be the "all-in" rate (spot rate adjusted for forward points). Note that
either BidPx, OfferPx or both must be specified
| ||
| 134 | Quantity | |||
| 135 | Quantity | |||
| 62 | UTCTimestamp | |||
| 188 | Price | May be applicable for F/X quotes
| ||
| 190 | Price | May be applicable for F/X quotes
| ||
| 189 | PriceOffset | May be applicable for F/X quotes
| ||
| 191 | PriceOffset | May be applicable for F/X quotes
| ||
| 60 | UTCTimestamp | |||
| 64 | LocalMktDate | Can be used with forex quotes to specify a specific "value date"
| ||
| 40 | Char Enum | Can be used to specify the type of order the quote is for
| ||
| 193 | LocalMktDate | Can be used with OrdType = "Forex - Swap" to specify the "value date" for the future portion
of an F/X swap
| ||
| 192 | Quantity | Can be used with OrdType = "Forex - Swap" to specify the order quantity for the future
portion of an F/X swap
| ||
| 15 | Currency | Can be used to specify the currency of the quoted price
| ||
| Component |