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=SellWhat YOU want to do: Buy=want offers back (OWIC), Sell=want bids back (BWIC). |
| 38 | OrderQty | Required | Quantity in configured units. Set to 0 to cancel. |
| 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 percent. Set to 0 to cancel |
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 |
|---|---|---|---|
| 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 | Required (Y/O) | Your MPID shown to contra firms. Optional if OpenYield can determine it via rules; mandatory if multiple MPIDs or configured so. |
| 5 | Investor ID | Optional | Account / sub-account code if subscriber is configured for SubIDs |
| 24 | Customer Code | Required (Y/O) | Pass-through tag; OpenYield returns this unchanged on all responses. Use for internal codes, strategy, algo, desk, portfolio, etc. |
| 11 | Order Origination Trader | Required (Y/O) | Obfuscated trader code for GUI users. OpenYield reflects it on all responses. |
SecurityBlock
The security being traded.
| Tag | Name | Required | Notes |
|---|---|---|---|
| 55 | Symbol | Required | Security identifier (ISIN, CUSIP, or FIGI per configuration) |
| 48 | SecurityID | Required | Security identifier (ISIN, CUSIP, or FIGI per configuration) |
| 22 | SecurityIDSource | Required | 1=CUSIP·4=ISIN·A=Bloomberg FIGI |
| 460 | Product | Required (Y/O) | 1=Agency·3=Corporate·6=Government·11=MunicipalRequired on OpenYield responses; optional on subscriber messages. |
New RFOs are sent on the Request Session ("-RQ"). OpenYield validates the Request for correctness as well as:
- Ensure the security is supported on the platform
- Ensure the quantity is within compliance limits
- Ensure the reserve price is within compliance limits of mid-market or opening price (if set)
The 54=Side field is what you want to do. So set it to Sell if you want to get bids back (BWIC) or Buy if you want offers back (OWIC).
Fields 64 "ValidUntilTime" and 126 "ExpireTime" may be set, but will be ignored as will any other fields.
For example, to send in a Bid Wanted (54=Sell) to sell 100 (38=100) of US023135CF19 with a reserve price of 101.255 (44=101.255):
OpenYield acknowledges the order with the Pending New OrdStatus (39=A) and ExecType (150=0):
If a reserve price was set, when OpenYield places the order on the marketplace, it acknowledges this by changing the order status to New (39=0):