Best Message type for broadcasting

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Imported from previous forum

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Hi, there

We are an online quote service firm.

The quote is received by our level 1 servers from data vender and broadcasted to many level 2 servers, which serving market quotes to our end users.

What we would like to do is to use FIX between level 1 servers and level 2 servers and eventually using FAST. What is the best Message type to use here?

I looked at the QuoteResponse Message (Type AJ), is that the best choice?

Thanks in advance.

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[ original email was from Rikard Hedberg - rikard.hedberg@omxgroup.com ]
Hi,

to me it sounds as if you should use the Market Data messages (FIX specification volume 3). Public quote information from marketplaces and vendors are normally published that way. As it seems you are both receiving and forwarding that type of messages, have a look at that part of the FIX specification. Quote Requests are not recommended unless you support negotiations between the parties, but the three-party model (you being the middle man) is currently not well defined in FIX. The Quote message itself may be applicable, but again on the condition that you support private negotiations - if you are just publishing quotes, go for the Market Data messages.

I warmly recommend the Book Management Best Practices document found here (access may require a GTC or MDOWG membership): http://www.fixprotocol.org/documents/1462/MDOWG_Book_Mgt_Finaldraft.doc

Regards

Rikard

Hi, there

We are an online quote service firm.

The quote is received by our level 1 servers from data vender and
broadcasted to many level 2 servers, which serving market quotes to our
end users.

What we would like to do is to use FIX between level 1 servers and
level 2 servers and eventually using FAST. What is the best Message
type to use here?

I looked at the QuoteResponse Message (Type AJ), is that the best
choice?

Thanks in advance.