Imported from previous forum
[ original email was from Jim Northey - jnorthey@lasalletech.com ]
Exchanges that support non-continuously quoted markets or markets that use quote requests to solicit quotes for price betterment - usually have a Quote Request mechanism. What is lacking at this point in FIX is the ability for someone interested in responding to Quote Request to register interest in quote requests for securities.
Does it make sense to add a tag to Quote Status Request, such as the already defined SubscriptionRequestType(263), to indicate that the counterparty (usually a market maker) is interested in receiving quote requests for the security (which could be an option class for instance) specified in the Quote Status Request?
Using this already existing tag would make Quote Status Request - consistent with Security Status, Trading Status, Market Data Request.
It seems to me that it is not a far stretch to say that Quote Requests are part of the overall Quote Status domain.