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.
Orders can be created from quotes. Quoted orders include the QuoteID (117) and OrdType (40) = "previously quoted".