# Item D20: When an RFQ is received by the Dealer, should there be an acknowledgement to the Venue indicating that the RFQ is received by the Dealer?

**URL:** <https://forum.fixtrading.org/t/item-d20-when-an-rfq-is-received-by-the-dealer-should-there-be-an-acknowledgement-to-the-venue-indicating-that-the-rfq-is-received-by-the-dealer/11016>\
**Category:** General Q&A\
**Tags:** gfic-sellside-fi-con, xid\_169382, imported\
**Created:** [October 6, 2011, 11:18am UTC](https://forum.fixtrading.org/t/item-d20-when-an-rfq-is-received-by-the-dealer-should-there-be-an-acknowledgement-to-the-venue-indicating-that-the-rfq-is-received-by-the-dealer/11016 "2011-10-06T11:18:23Z")\
**Posts on this page:** 4\
**Page:** 1

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**Author:** ![ravikumar26\_x](https://avatars.discourse-cdn.com/v4/letter/r/e99b99/32.png) [@ravikumar26\_x](https://forum.fixtrading.org/u/ravikumar26_x)\
**Post date:** [October 6, 2011, 11:18am UTC](https://forum.fixtrading.org/t/item-d20-when-an-rfq-is-received-by-the-dealer-should-there-be-an-acknowledgement-to-the-venue-indicating-that-the-rfq-is-received-by-the-dealer/11016/1 "2011-10-06T11:18:23Z")

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Imported from previous forum

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**Author:** ![ravikumar26\_x](https://avatars.discourse-cdn.com/v4/letter/r/e99b99/32.png) [@ravikumar26\_x](https://forum.fixtrading.org/u/ravikumar26_x)\
**Post date:** [October 6, 2011, 11:18am UTC](https://forum.fixtrading.org/t/item-d20-when-an-rfq-is-received-by-the-dealer-should-there-be-an-acknowledgement-to-the-venue-indicating-that-the-rfq-is-received-by-the-dealer/11016/2 "2011-10-06T11:18:23Z")

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It is proposed that there is no need for an acknowledgement unless there is a business case.

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**Author:** ![justinpeterson\_x](https://avatars.discourse-cdn.com/v4/letter/j/b5a626/32.png) [@justinpeterson\_x](https://forum.fixtrading.org/u/justinpeterson_x)\
**Post date:** [October 6, 2011, 9:10pm UTC](https://forum.fixtrading.org/t/item-d20-when-an-rfq-is-received-by-the-dealer-should-there-be-an-acknowledgement-to-the-venue-indicating-that-the-rfq-is-received-by-the-dealer/11016/3 "2011-10-06T21:10:14Z")

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> It is proposed that there is no need for an acknowledgement unless there is a business case.  
> It is important for buy side traders to know that their trade requests have been received not simply sent; for example, if a trade request has not been received within a couple of seconds, a trader may wish to cancel the request, and send a new one to a different set of recipients. A trade request acknowledgement is the most effective means of providing this level of accurate trade request status. Another approach would be to assume that trade request messages have been received unless evidence to the contrary is provided (i.e., timeout). Unfortunately, the evidence can come far too late in fast moving markets.

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**Author:** ![murrayreid\_x](https://avatars.discourse-cdn.com/v4/letter/m/e5b9ba/32.png) [@murrayreid\_x](https://forum.fixtrading.org/u/murrayreid_x)\
**Post date:** [November 22, 2011, 8:41pm UTC](https://forum.fixtrading.org/t/item-d20-when-an-rfq-is-received-by-the-dealer-should-there-be-an-acknowledgement-to-the-venue-indicating-that-the-rfq-is-received-by-the-dealer/11016/4 "2011-11-22T20:41:29Z")

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> It is proposed that there is no need for an acknowledgement unless there is a business case.

This is covered in volume 1 within the following text: ‘Additionally, there may be special cases where an ECN may choose to implement additional message flows within FIX message workflows to satisfy their own business needs’.