Imported from previous forum
[ original email was from Steven Tong - steven.tong@barclayscapital.com ]
Is tag 295 a required tag in QuoteCancel message?
For MsgType=Z in FIX 4.2, it looks like tag 295 (NoQuoteEntries) is required, since it is followed by a group of quote entries to be cancelled. Tags 117 (QuoteID) and 298 (QuoteCancelType) are also required.
You may also find this link useful, it’s our online FIX data dictionary.
http://www.transacttools.net/ttportal/datadict/browser.jsp
Is tag 295 a required tag in QuoteCancel message?
David Rhodes
TransactTools
[ original email was from John Prewett - jprewett@lavatrading.com ]
> Is tag 295 a required tag in QuoteCancel message?
According to the official 4.2 specification, yes.
Then again in FIX.4.3 and FIX.4.4 it says:
“Not required when cancelling all quotes”
It certainly seems to me that there was a specification failure in FIX.4.2 when Tag 298 (QuoteCancelType) = 3 (Cancel all quotes) as clearly you wouldn’t need/want to specify a list of anything at that point.
I can only imagine you need to discuss with your counterparty and find an acceptable solution as to what needs to be done when canceling all quotes. If you do end up “inventing a variance to the FIX.4.2 protocol”, may I recommend conforming to FIX.4.3 or FIX.4.4 as at least you would be forwards compatible. Another option would be to switch to using FIX.4.3 or FIX.4.4 (if available) as the issue seems to have been solved.
I hope this helps.
John Prewett
Lava Trading Inc.