QuoteRequest

From FIXwiki

Jump to: navigation, search

FIX Message QuoteRequest (MsgType=R)

MsgType FIX Specification First introduced Deprecated
MsgType=R PreTrade messages - QuotationNegotiation FIX.4.0

In some markets it is the practice to request quotes from brokers prior to placement of an order. The quote request message is used for this purpose. This message is commonly referred to as an Request For Quote (RFQ)

Quotes can be requested on specific securities, on specified stipulations when specific security is not known or forex rates. The quote request message can be used to request quotes on single products or multiple products.

Securities quotes can be requested as either market quotes or for a specific quantity and side. If OrderQty and Side are absent, a market-style quote (bid x offer, size x size) will be returned.

In the tradeable and restricted tradeable quote models the Quote Request may be preceded by the RFQ Request message described further below.

For tradeable quote requests it is possible to specify the time period in which the request is valid for and the time period which the resulting quote must be valid for.


Message Contents By FIX Version


Notes

Please post comments, clarifications, examples here. Click on the edit button on the right and away you go! 
Don't forget to refer to the FPL Discussion Groups to back up anything you write. You will often find the authoritative statements on matters of FIX specification interpretation there. Links from FIXwiki pages to relevant discussions on the FPL site are very valuable.
For example if you were writing a clarification on how to specify the "quantity" of an order in FIX, you might add the following relevant link, http://www.fixprotocol.org/discuss/read/f5014573, to back up your points.
Personal tools