Request for Quote

, ,
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Imported from previous forum

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Can you please let me know how to implement the request for quote functionality for commodity / equity spot / derivatives products through fix 4.2. It involves:

  1. Quote intiation request by a trader.
  2. providing acknowledgment for the initiation.
  3. response to the intiated quote from other traders.
  4. providing acknowledgment to the response quotes.
  5. Acceptance of responses by the intiator.
  6. providing acknowledgments to the respondents for acceptance by the initiators.
  7. On acceptance by the initiator, system would be generating orders and trades which would also be communicated to the traders.