DRAFT#3: Changes for Quote messages Vol.3

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Imported from previous forum

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[ original email was from Jim Northey - jnorthey@lasalletech.com ]
1) Remove QuoteStatus from the Quote message - documentation error.

  1. pg. 29 Indicative model - fourth row in table - normally in the indicative quoting you have an option not to say new - to just send an Execution Report of filled. Common practice is not to send the Execution Report-New.

  2. On Quote message add Tag 63 Settlement Type.

  3. Need to add a second FX rate.

  4. Need to add a Settlement Currency bid FX rate and Settlement Currency Offer FX rate - these can replace tag 155. The Settlement FX Calc can be shared.

  5. On the quote request message the text should be revised to say " The absence of a side indicates the request is for a two side market."

  6. On the quote request message the text should include a note that the (The currency may differ from the usual currency in which the instrument trades).

  7. Need to document how to reject an RFQ Request.

  8. Need to document how to reject a Quote Status Request.

-captured from conversation with Peter White and Jim Northey

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This has been addressed for the final release of FIX 4.3 (post-Draft #3). Thank you. [PC20010820_1]

Vol 3:

  • Quote-related adjustments post-Draft #3 to correct documentation errors/consistency issues: [PC20010820_1]
    • Added SettlmntTyp to Quote message.
    • Removed QuoteStatus field from Quote message.
    • Replaced SettlCurrFxRate field with SettlCurrBidFxRate and SettlCurrOfferFxRate fields in Quote message and in the Quote Status Report message.
    • Clarified that Quote Status Report message can be used as a response to a Quote Cancel message.
    • Removed QuoteResponseLevel from Quote Status Report message.

Vol 6:

  • Added two new fields SettlCurrBidFxRate and SettlCurrOfferFxRate fields as part of Quote-related adjustments post-Draft #3 to correct documentation errors/consistency issues: [PC20010820_1]

> 1) Remove QuoteStatus from the Quote message - documentation error.
>
> 2) pg. 29 Indicative model - fourth row in table - normally in the indicative quoting you have an option not to say new - to just send an Execution Report of filled. Common practice is not to send the Execution Report-New.
>
> 3) On Quote message add Tag 63 Settlement Type.
>
> 4) Need to add a second FX rate.
>
> 5) Need to add a Settlement Currency bid FX rate and Settlement Currency Offer FX rate - these can replace tag 155. The Settlement FX Calc can be shared.
>
> 6) On the quote request message the text should be revised to say " The absence of a side indicates the request is for a two side market."
>
> 7) On the quote request message the text should include a note that the (The currency may differ from the usual currency in which the instrument trades).
>
> 8) Need to document how to reject an RFQ Request.
>
> 9) Need to document how to reject a Quote Status Request.
>
> -captured from conversation with Peter White and Jim Northey
>
>
>
>
>