The initiator may cancel an existing RFO by sending in a zero quantity and zero price update. 131=QuoteReqID must be the same as the initial request.
If in the collection window, OpenYield will simply not place the RFO on the market. If on the market, OpenYield will cancel the live market order. Note that some or all of the RFO may have been executed by the time the cancellation is received.
Cancel within Collection
For example, to lets cancel the a Bid Wanted with ID REQ-MUN-000A before it has been put on the market
This is your request
8=FIX.4.4 9=190 35=R 34=439 49=BASTION-RQ 52=20250213-22:06:32.096 56=OPENYIELD-RQ 131=REQ-MUN-000A 146=1 55=US023135CF19 48=US023135CF19 22=4 537=1 54=2 38=100 44=98 453=2 448=Bastion 452=3 448=OYLD 452=1 10=165
Its acknowledged as staged (SD is our stager)
8=FIX.4.4 9=321 35=8 34=562 49=OPENYIELD-RQ 52=20250213-22:06:32.162 56=BASTION-RQ 6=0 11=REQ-MUN-000A 14=0 17=RSP20250213-SD-000000000004 22=4 31=0 32=0 37=ORD20250213-SD-000000000005 38=100 39=A 44=0 48=US023135CF19 54=2 55=US023135CF19 118=0 136=0 150=0 151=100 159=0 236=0 381=0 453=3 448=Bastion 452=3 448=BAST 452=4 448=OYLD 452=1 10=090
You cancel before the collection period is over (132=0, 134 = 0)
8=FIX.4.4 9=187 35=R 34=440 49=BASTION-RQ 52=20250213-22:06:34.091 56=OPENYIELD-RQ 131=REQ-MUN-000A 146=1 55=US023135CF19 48=US023135CF19 22=4 537=1 54=2 38=0 44=0 453=2 448=Bastion 452=3 448=OYLD 452=1 10=254
OpenYield confirms the cancellation and does not place the order on the marketplace.
8=FIX.4.4 9=317 35=8 34=563 49=OPENYIELD-RQ 52=20250213-22:06:34.108 56=BASTION-RQ 6=0 11=REQ-MUN-000A 14=0 17=RSP20250213-SD-000000000005 22=4 31=0 32=0 37=ORD20250213-SD-000000000005 38=0 39=4 44=0 48=US023135CF19 54=2 55=US023135CF19 118=0 136=0 150=4 151=0 159=0 236=0 381=0 453=3 448=Bastion 452=3 448=BAST 452=4 448=OYLD 452=1 10=152
Cancel after Collection
For example, to lets cancel the a Bid Wanted with ID REQ-MUN-0009 after it has been put on the market
This is the initial request:
8=FIX.4.4 9=232 35=S 34=515 49=OPENYIELD-RQ 52=20250213-21:46:13.000 56=BASTION-RQ 22=4 48=US023135CF19 54=1 55=US023135CF19 60=20250213-21:46:13 62=20250213-16:46:18 117=QRS20250213-SD-000000000001 131=REQ-MUN-0009 132=97.8456 134=100 301=2 537=1 10=158
Its acknowledged as staged (SD is our stager)
8=FIX.4.4 9=321 35=8 34=514 49=OPENYIELD-RQ 52=20250213-21:46:08.978 56=BASTION-RQ 6=0 11=REQ-MUN-0009 14=0 17=RSP20250213-SD\-000000000001 22=4 31=0 32=0 37=ORD20250213-SD-000000000001 38=100 39=A 44=0 48=US023135CF19 54=2 55=US023135CF19 118=0 136=0 150=0 151=100 159=0 236=0 381=0 453=3 448=Bastion 452=3 448=BAST 452=4 448=OYLD 452=1 10=093
At the end of collection (in this example 5 seconds later) its placed on the marketplace (OD is our marketplace)
8=FIX.4.4 9=321 35=8 34=516 49=OPENYIELD-RQ 52=20250213-21:46:13.001 56=BASTION-RQ 6=0 11=REQ-MUN-0009 14=0 17=RSP20250213-OD\-000000000136 22=4 31=0 32=0 37=ORD20250213-OD-000000000044 38=100 39=0 44=0 48=US023135CF19 54=2 55=US023135CF19 118=0 136=0 150=0 151=100 159=0 236=0 381=0 453=3 448=Bastion 452=3 448=BAST 452=4 448=OYLD 452=1 10=059
You then send a cancel (132=0, 134 = 0)
8=FIX.4.4 9=187 35=R 34=396 49=BASTION-RQ 52=20250213-21:46:13.807 56=OPENYIELD-RQ 131=REQ-MUN-0009 146=1 55=US023135CF19 48=US023135CF19 22=4 537=1 54=2 38=0 44=0 453=2 448=Bastion 452=3 448=OYLD 452=1 10=005
The stager acknowledges the cancel
8=FIX.4.4 9=317 35=8 34=519 49=OPENYIELD-RQ 52=20250213-21:46:16.393 56=BASTION-RQ 6=0 11=REQ-MUN-0009 14=0 17=RSP20250213-SD\-000000000002 22=4 31=0 32=0 37=ORD20250213-SD-000000000001 38=0 39=4 44=0 48=US023135CF19 54=2 55=US023135CF19 118=0 136=0 150=4 151=0 159=0 236=0 381=0 453=3 448=Bastion 452=3 448=BAST 452=4 448=OYLD 452=1 10=147
And the marketplace does too
8=FIX.4.4 9=321 35=8 34=520 49=OPENYIELD-RQ 52=20250213-21:46:16.394 56=BASTION-RQ 6=0 11=REQ-MUN-0009 14=0 17=RSP20250213-OD\-000000000140 22=4 31=0 32=0 37=ORD20250213-OD-000000000044 38=100 39=4 44=0 48=US023135CF19 54=2 55=US023135CF19 118=0 136=0 150=4 151=100 159=0 236=0 381=0 453=3 448=Bastion 452=3 448=BAST 452=4 448=OYLD 452=1 10=075