Definition
In some markets it is the practice to request quotes from brokers prior to placement of an order. The quote request message is used for this purpose. This message is commonly referred to as an Request For Quote (RFQ)
Message structure 4024 distinct fields
Source order, including nested components and groups. Group counts precede the repeated entries. “Required here” is relative to the enclosing component or group, not unconditional in the message. A dash means not marked required; conditional requirements remain in the source notes. This is a reference, not a counterparty-specific validator.
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StandardHeaderComponentRequired
MsgType = R
StandardHeader definition & usage →
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For tradeable quote model - used to indicate to which RFQ Request this Quote Request is in response.
Required only in two party models when QuoteType(537) = '1' (Tradeable) and the OrdType(40) = '2' (Limit).
Used to indicate whether a private negotiation is requested or if the response should be public. Only relevant in markets supporting both Private and Public quotes. If field is not provided in message, the model used must be bilaterally agreed.
RootPartiesRepeating groupCount tag 1116—
Used for acting parties that applies to the whole message, not individual legs, sides, etc.
RootParties definition & usage →
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QuotReqGrpRepeating groupCount tag 146Required
Number of related symbols (instruments) in Request
QuotReqGrp definition & usage →
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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.
Must be set if EncodedText field is specified and must immediately precede it.
Encoded (non-ASCII characters) representation of the Text field in the encoded format specified via the MessageEncoding field.
StandardTrailerComponentRequired
StandardTrailer definition & usage →
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