Sending IOI (35=6)

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Imported from previous forum

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Hi Guys…
Please help me…
I am sending an IOI using Verifix,What is expected from Verifix after sending an IOI??
when i am sending an IOI, I am not getting any response or any execution report into verifix…
Can anyone pls guide…
Many Thanks in Advance

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Rushabh,

IOIs do not generally have an official reply (there are some special cases where you could argue that an IOI should be followed by an order but that is (still) rare.)

If you are sending the IOI message to a system that can use the IOI’s content to create an order (35=D) then you could talk to the user of that system to see why (s)he isn’t sending you one.

Hope this helps.

–ws

Hi Guys… Please help me… I am sending an IOI using Verifix,What is
expected from Verifix after sending an IOI?? when i am sending an IOI, I
am not getting any response or any execution report into verifix… Can
anyone pls guide… Many Thanks in Advance

4

Hi Rushabh,

IOI is simply a message to a counterparty that you are interested in buying or selling a certain security.

So, when you send an IOI to your counterparty you cannot expect a response back. Hope this helps.

Thanks

Sumit

Hi Guys… Please help me… I am sending an IOI using Verifix,What is
expected from Verifix after sending an IOI?? when i am sending an IOI, I
am not getting any response or any execution report into verifix… Can
anyone pls guide… Many Thanks in Advance