Special Case: Quotes Forwarded to the Initiator
Message is “Quote” (35=S)
| Tag | Name | Required | Notes |
|---|---|---|---|
| 131 | QuoteReqID | Optional | RFO session only: the QuoteReqID being responded to |
| 117 | QuoteID | Required | Unique quote ID; same ID used for updates and cancels |
| 537 | QuoteType | Optional | 0=Indicative (Order Book Summon)·1=Tradeable (Firm RFO) |
| 301 | QuoteResponseLevel | Optional | 2=Acknowledge All |
| 54 | Side | Required | 1=Buy·2=Sell |
| 132 | BidPx | Required | Price when Side=Buy; zero otherwise |
| 133 | OfferPx | Required | Price when Side=Sell; zero otherwise |
| 645 | MktBidPx | Optional | Dealer only: tiered bid price |
| 646 | MktOfferPx | Optional | Dealer only: tiered offer price |
| 134 | BidSize | Required | Quantity in bonds when Side=Buy; zero otherwise |
| 135 | OfferSize | Required | Quantity in bonds when Side=Sell; zero otherwise |
| 60 | TransactTime | Required | Time the quote was submitted |
PartyBlock-Inbound(453 NoPartyIDs)
Party block sent by subscribers on orders, quotes, and RFO requests. Identifies the trading party and optional sub-accounts.
| Tag | Name | Required | Notes |
|---|---|---|---|
| 453 | NoPartyIDsCount | Required | Number of party block entriesSet to the number of entries that follow. |
| The fields below repeat once per entry (count in NoPartyIDs) | |||
| 448 | PartyID | Required | — |
| 452 | PartyRole | Required | Role of this party entry |
Party Roles
| Role | Name | Required | Notes |
|---|---|---|---|
| 3 | Client ID | Required | Your assigned counterparty code (not MPID) |
| 4 | Clearing Firm | Conditional | Your MPID shown to contra firms. Optional if OpenYield can determine it via rules; required if you have multiple MPIDs or are configured to send it. |
| 5 | Investor ID | Optional | Account / sub-account code, if the subscriber is configured for sub-accounts |
| 24 | Customer Code | Conditional | Pass-through tag; OpenYield returns this unchanged on all responses. Use for internal codes, strategy, algo, desk, portfolio, etc. |
| 11 | Order Origination Trader | Conditional | Obfuscated trader code for GUI users. OpenYield reflects it on all responses. |
Optionally add a PartySubID block (802/523/803) under role 4 if the subscriber has multiple accounts at the same DTCC clearing firm (set PartySubIDType 803=10, PartySubID 523=clearing account code).
QuoteQualifiersGroup(735 NoQuoteQualifiers)
Optional qualifier block on Quote messages indicating AllOrNone condition.
| Tag | Name | Required | Notes |
|---|---|---|---|
| 735 | NoQuoteQualifiersCount | Optional | Number of quote qualifier entriesSet to the number of entries that follow. Not sent when the group has no entries. |
| The fields below repeat once per entry (count in NoQuoteQualifiers) | |||
| 695 | QuoteQualifier | Optional | A=AllOrNone |
SecurityBlock
The security being traded.
| Tag | Name | Required | Notes |
|---|---|---|---|
| 55 | Symbol | Required | Same value as SecurityID (48) |
| 48 | SecurityID | Required | Security identifier (ISIN, CUSIP, or FIGI per configuration) |
| 22 | SecurityIDSource | Required | 1=CUSIP·4=ISIN·A=Bloomberg Symbol (FIGI) |
| 460 | Product | Conditional | 1=Agency·3=Corporate·6=Government·11=MunicipalRequired on OpenYield responses; optional on subscriber messages. |
StipulationsBlock(232 NoStipulations)
Optional Minima constraints on a resting order or quote. When present, restricts the quantities a taker may fill against this maker order. Encoded as a FIX stipulations repeating group.
| Tag | Name | Required | Notes |
|---|---|---|---|
| 232 | NoStipulationsCount | Optional | Number of Minima stipulations in the repeating groupSet to the number of entries that follow. Not sent when the group has no entries. |
| The fields below repeat once per entry (count in NoStipulations) | |||
| 233 | StipulationType | Required | MINQTY=Minimum Quantity·MININCR=Minimum Increment·MINDNOM=Minimum Balance Remaining (MINDNOM; OpenYield usage)MINQTY, MININCR, or MINDNOM |
| 234 | StipulationValue | Required | Numeric value for the stipulation |
This flow is only available for special case configured subscribers.
At the end of the collection window, OpenYield snapshots the live order book and sends a sanitized Quote (35=S) message for each order on the opposite side. The responder's identity is not included.
for Sell requests, the Quotes will be Buy quotes.
For example, if there were 3 quotes: