Imported from previous forum
In the Best Practices for Cash Bonds Volume 3 (Quote Driven Model Workflows) , Scenario R10 describes the case where a Customer requests a Quote; the Dealer responds with a Quote and may change Quote several times. At present Best Practices recommends that Execution Venue may choose to acknowledge each update with a QuoteAck message. The question is should this QuoteAck message be made mandatory instead of optional?
Unless it is absolutely needed, the Best Practice do not recommend such application level acknowledgement message as mandatory. By having it as an optional, allow the venues to implement the acknowledgement if required to do so.