MassQuoteAck <b> message
FIX 5.0 SP2 EP264
Mass Quote Acknowledgement is used as the application level response to a MassQuote <i> message. The Mass Quote Acknowledgement contains a field for reporting the reason in the event that the entire quote is rejected (QuoteRejectReason <300>). The Mass Quote Acknowledgement also contains a field for each quote that is used in the event that the quote entry is rejected (QuoteEntryRejectReason <368>). The ability to reject an individual quote entry is important so that the majority of quotes can be successfully applied to the market instead of having to reject the entire MassQuote <i> for a minority of rejected quotes.
Derivative markets are characterized by high bandwidth consumption - due to a change in an underlying security price causing multiple (often in the hundreds) of quotes to be recalculated and retransmitted to the market. For that reason the ability for market participants (and the market) to be able to set the level of response requested to a MassQuote <i> message is specified using the QuoteResponseLevel <301> field.
|Component Block - <StandardHeader>||Y||MsgType = b (lowercase)|
|131||QuoteReqID||N||Required when acknowledgment is in response to a Quote Request message|
Required when acknowledgment is in response to a Mass Quote, mass Quote Cancel or mass Quote Status Request message. Maps to:
- QuoteID <117> of a Mass Quote
- QuoteMsgID <1166> of Quote Cancel
- QuoteStatusReqID <649> of Quote Status Request
|297||QuoteStatus||Y||Status of the mass quote acknowledgement.|
|300||QuoteRejectReason||N||Reason Quote was rejected.|
|301||QuoteResponseLevel||N||Level of Response requested from receiver of quote messages. Is echoed back to the counterparty.|
|537||QuoteType||N||Type of Quote|
|Component Block - <Parties>||N||Insert here the set of "Parties" (firm identification) fields defined in "Common Components of Application Messages"|
|Component Block - <TargetParties>||N||Should be populated if the Mass Quote Acknowledgement is acknowledging a mass quote cancellation by party.|
|581||AccountType||N||Type of account associated with the order (Origin)|
Must be set if EncodedComplianceText <2352> field is specified and must immediately precede it.
Encoded (non-ASCII characters) representation of the ComplianceText <2404> field in the encoded format specified via the MessageEncoding <347> field.
|Component Block - <QuotSetAckGrp>||N||The number of sets of quotes in the message|
|Component Block - <ThrottleResponse>||N|
|Component Block - <StandardTrailer>||Y|