Market Data vs. Quote

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Imported from previous forum

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I am trying to understand when to use market data fields (i.e.MarketDataRequest; Tag35 = V) as opposed to quote fields (i.e.QuoteRequest Tag 35 = R).

Can anyone help me on this?

Thanks
Bruce

3

I am trying to understand when to use market data fields
(i.e.MarketDataRequest; Tag35 = V) as opposed to quote fields
(i.e.QuoteRequest Tag 35 = R).

Can anyone help me on this?

Thanks Bruce

MarketDataRequest (msg type 35=V) used for subscribing ESPs (Executable StreamingPrices) where as QuoteRequest (msg type35=R) used for subscribing RFQs/RFSs (RequestForStream/Quote).I hope this helps.

4

I am trying to understand when to use market data fields
(i.e.MarketDataRequest; Tag35 = V) as opposed to quote fields
(i.e.QuoteRequest Tag 35 = R).

Can anyone help me on this?

Thanks Bruce

MarketDataRequest (msg type 35=V) used for subscribing ESPs (Executable
StreamingPrices) where as QuoteRequest (msg type35=R) used for
subscribing RFQs/RFSs (RequestForStream/Quote).I hope this helps.

5

I am trying to understand when to use market data fields
(i.e.MarketDataRequest; Tag35 = V) as opposed to quote fields
(i.e.QuoteRequest Tag 35 = R).

Can anyone help me on this?

Thanks Bruce

MarketDataRequest (msg type 35=V) used for subscribing ESPs
(Executable StreamingPrices) where as QuoteRequest (msg type35=R) used
for subscribing RFQs/RFSs (RequestForStream/Quote).I hope this helps.

Thanks. That was very helpful. Is there a difference between ESP and RFS? When using Tag35 = R, how do you distinguish between RFS and RFQ?

Thanks again for the help.

Bruce Forman

6

ESP : 1)While subscribing, no need to mention the Dealt Amount of which you are going to Trade.
2) No support for FX Swap Trades.
3) Provides executable bids and offers for instant execution.

RFS : 1)While subscribing,the user need to mention the Dealt Amount of which he is going to Trade.
2) Supports FX Swap Trades.
3) Provides stream rates per request (per user)i.e eligible for that user for that Dealt Amt only.