QuoteRequest (MsgType = R)

Quote Request (MsgType = R)

In some markets it is the practice to request quotes from brokers prior to placement of an order. The Quote Request (R) message is used for this purpose.

Quotes can be requested on specific securities or forex rates.

Securities quotes can be requested as either market quotes or for a specific quantity and side. If OrderQty (38) and Side (54) are absent, a market-style quote (bid x offer, size x size) will be returned.

If the message is used for foreign exchange, conventions for identifying the forex transaction are as follows:

The forex Symbol (55) is defined in "EBS" (Electronic Banking System) format: "CCY1/CCY2".
- Rates are expressed as "currency1 in currency2" (or "currency2 per currency1") and are calculated as CCY2 divided by CCY1 (NOT CCY1 divided by CCY2)
- e.g. "GBP/USD" represents a rate expressed as USD per GBP, "USD/JPY" represents a rate expressed as JPY per USD, etc.).
- CCY1 and CCY2 are ISO currency codes
The value of the Currency (15) field represents the denomination of the quantity fields (e.g. JPY represents quantity of JPY).
See Appendix O - Foreign Exchange Trading
Forex quotes can be requested as indicative or at a specific quantity level. If an indicative quote is requested ( OrderQty (38) and Side (54) are absent), the broker has discretion to quote at either a specific trade level and side or to provide an indicative quote at the mid-point of the spread. The broker can also choose to respond to an indicative quote by sending multiple Quote (S) messages specifying various levels and sides.

Tag		Field Name	Req'd	Comments
<Standard Message Header>			Y	MsgType = R
131		QuoteReqID	Y
146		NoRelatedSym	Y	Number of related symbols in Request
=>	55	Symbol	Y	Must be the first field in the repeating group.
=>	65	SymbolSfx	N	Can be repeated multiple times if message is related to multiple symbols.
=>	48	SecurityID	N	Can be repeated multiple times if message is related to multiple symbols.
=>	22	IDSource	N	Can be repeated multiple times if message is related to multiple symbols.
=>	167	SecurityType	N	Must be specified if a Future or Option. If a Future: Symbol (55) , SecurityType (167) , and MaturityMonthYear (200) are required. If an Option: Symbol (55) , SecurityType (167) , MaturityMonthYear (200) , PutOrCall (201) , and StrikePrice (202) are required.
=>	200	MaturityMonthYear	C	Specifiesthe month and year of maturity. Required if MaturityDay (205) is specified.
=>	205	MaturityDay	N	Can be used in conjunction with MaturityMonthYear (200) to specify a particular maturity date.
=>	201	PutOrCall	C	For Options.
=>	202	StrikePrice	C	For Options.
=>	206	OptAttribute	N	For Options.
=>	231	ContractMultiplier	N	For Fixed Income, Convertible Bonds, Derivatives, etc. Note: If used, quantities should be expressed in the "nominal" (e.g. contracts vs. shares) amount.
=>	223	CouponRate	N	For Fixed Income.
=>	207	SecurityExchange	N	Can be used to identify the security.
=>	106	Issuer	N	Can be repeated multiple times if message is related to multiple symbols.
=>	348	EncodedIssuerLen	C	Must be set if EncodedIssuer (349) field is specified and must immediately precede it.
=>	349	EncodedIssuer	C	Encoded (non-ASCII characters) representation of the Issuer (106) field in the encoded format specified via the MessageEncoding (347) field.
=>	107	SecurityDesc	N	Can be repeated multiple times if message is related to multiple symbols.
=>	350	EncodedSecurityDescLen	C	Must be set if EncodedSecurityDesc (351) field is specified and must immediately precede it.
=>	351	EncodedSecurityDesc	C	Encoded (non-ASCII characters) representation of the SecurityDesc (107) field in the encoded format specified via the MessageEncoding (347) field.
=>	140	PrevClosePx	N	Useful for verifying security identification
=>	303	QuoteRequestType	N	Indicates the type of Quote Request (R) (e.g. Manual vs. Automatic) being generated.
=>	336	TradingSessionID	N
=>	54	Side	N	If OrdType (40) = "Forex - Swap", should be the side of the future portion of a F/X swap
=>	38	OrderQty	N
=>	64	FutSettDate	N	Can be used with forex quotes to specify the desired "value date"
=>	40	OrdType	N	Can be used to specify the type of order the Quote Request (R) is for
=>	193	FutSettDate2	N	Can be used with OrdType (40) = "Forex - Swap" to specify the "value date" for the future portion of a F/X swap.
=>	192	OrderQty2	N	Can be used with OrdType (40) = "Forex - Swap" to specify the order quantity for the future portion of a F/X swap.
=>	126	ExpireTime	N	The time when Quote Request (R) will expire.
=>	60	TransactTime	N	Time transaction was entered
=>	15	Currency	N	Can be used to specify the currency of the quoted price.
<Standard Message Trailer>			Y