Quote on a Request for Order
Message is “Quote” (35=S)
SubscriberOpenYieldTRRQ
| 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 |
Repeating Group
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. |
Repeating Group
QuoteQualifiersGroup(735 NoQuoteQualifiers)
Optional qualifier block on Quote messages indicating AllOrNone condition.
| Tag | Name | Required | Notes |
|---|---|---|---|
| 695 | QuoteQualifier | Optional | A=AllOrNone |
Repeating Group
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. |
The responder sends a 35=S "Quote" message in response to the 35=R "Quote Request" message. Only one side of the quote will be taken into account, for example in Sell Requests, OpenYield looks at the Bid Size and Bid Px fields only.
For Example, the below places a Bid Quote (54=1) ID SHERW-RR-00000002 for ISIN US023135CF19 for 100 bonds at 97.6479 against our above Request RFO20250214-SD-000000000002:
The platform responds with an acknowledgement (297=0 Accepted):