Initiate a New Request for Order
Message is “Quote Request” (35=R)
| Tag | Name | Required | Notes |
|---|---|---|---|
| 131 | QuoteReqID | Required | Unique request ID. Reuse same ID for updates and cancels. |
| 146 | NoRelatedSym | Required | Must be 1 |
| 537 | QuoteType | Optional | 0=Indicative (Order Book Summon)·1=Tradeable (Firm RFO)Defaults to Tradeable. |
| 54 | Side | Required | 1=Buy·2=SellYour intent: Buy = request offers (OWIC); Sell = request bids (BWIC). |
| 38 | OrderQty | Required | Quantity in configured units (bonds by default). Set to 0 to cancel. |
| 63 | SettlType | Optional | 0=Regular settlement·6=Future dated settlementResponder-received only: Regular (0) for T+1, Future dated (6) when settlement is later |
| 64 | SettlDate | Optional | Responder-received only: settlement date (YYYYMMDD) any resulting trade will carry |
| 62 | ValidUntilTime | Optional | Responder-received only: end of collection window |
| 126 | ExpireTime | Optional | Responder-received only: end of firm window |
| 423 | PriceType | Optional | 1=Percentage (clean percent of face value) |
| 44 | Price | Optional | Reserve price as a percentage of face value. When canceling (OrderQty=0), also set to 0. |
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).
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. |
New RFOs are sent on the Request Quote session (-RQ suffix). OpenYield validates the request and also checks that:
- the security is supported on the platform
- the quantity is within compliance limits
- the reserve price (if set) is within compliance limits of mid-market or the opening price
Side (54) is what you want to do: set it to Sell (54=2) if you want bids back (BWIC), or Buy (54=1) if you want offers back (OWIC).
ValidUntilTime (62) and ExpireTime (126) may be set, but are ignored, as are any other fields not listed in the table below.
For example, to send a Bid Wanted (54=2, Sell) to sell 100 (38=100) of US023135CF19 with a reserve price of 101.255 (44=101.255):
OpenYield acknowledges the request with OrdStatus Pending New (39=A) and ExecType New (150=0). SD in the IDs identifies OpenYield's staging engine:
If a reserve price was set, when OpenYield places the order on the marketplace at the end of the collection window, it acknowledges this by changing the order status to New (39=0). The live order has a new OrderID (37); OD in the IDs identifies the marketplace: