Imported from previous forum
Hello,
As far as I know, IOI messages are initiated by sell-side dealers so that they can sell/buy securities to buy-side customers.
My question is:
Can buy-side customers initiate IOI messages to put sell-side dealers into competition for better(=lower) commission?
Any comments would be appreciated.
Thanks!
Have you looked at Request for Quote workflows? These can be used to ask for indicative or firm quotes from one or more dealers. have a look at the section on Fixed Income of http://www.fixtradingcommunity.org/pg/structure/fix-guidelines/best-practiceguidelines-directory where pre-trade flows are described.