Definition
The QuoteResponse(35=AJ) message is used for the following purposes:
1. Respond to an IOI(35=6) message
2. Respond to a Quote(35=S) message
3. Counter a Quote
4. End a negotiation dialog
5. Follow-up or end a QuoteRequest(35=R) dialog that did not receive a response.
Additional detail from the official source
For usage of this message in a negotiation or counter quote dialog for fixed income and exchanges/marketplace see Volume 7, Fixed Income and Exchanges and Markets sections respectively.
Message structure 4026 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 = AJ
StandardHeader definition & usage →
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Unique ID as assigned by the Initiator
Required only when responding to a Quote.
Optionally used when responding to a Quote.
Contains the QuoteReqID(131) of the QuoteRequest(35=R).
Unique ID as assigned by the Initiator. Required only in two-party models when QuoteRespType(694) = 1 (Hit/Lift) or 2 (Counter quote).
Required only when responding to an IOI.
Default is Indicative.
QuotQualGrpRepeating groupCount tag 735—
QuotQualGrp definition & usage →
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May be used by SEFs (Swap Execution Facilities) to indicate a block swap transaction.
PartiesRepeating groupCount tag 453—
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InstrumentComponentRequired
For multilegs supply minimally a value for Symbol (55).
Instrument definition & usage →
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FinancingDetailsComponent—
For multilegs supply minimally a value for Symbol (55).
FinancingDetails definition & usage →
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UndInstrmtGrpRepeating groupCount tag 711—
Number of underlyings
UndInstrmtGrp definition & usage →
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Required when countering a single instrument quote or "hit/lift" an IOI or Quote.
OrderQtyDataComponent—
Conditionally required when countering a single instrument quote or "hit/lift" an IOI or Quote when applicable for the type of instrument.
OrderQtyData definition & usage →
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Can be used with forex quotes to specify a specific "value date"
Can be used with OrdType = "Forex - Swap" to specify the "value date" for the future portion of a F/X swap.
Can be used with OrdType = "Forex - Swap" to specify the order quantity for the future portion of a F/X swap.
Can be used to specify the currency of the quoted prices. May differ from the 'normal' trading currency of the instrument being quoted
RateSourceRepeating groupCount tag 1445—
RateSource definition & usage →
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StipulationsRepeating groupCount tag 232—
Optional
Stipulations definition & usage →
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Used to identify the source of the Account code.
Type of account associated with the order (Origin)
LegQuotGrpRepeating groupCount tag 555—
Required for multileg quote response
LegQuotGrp definition & usage →
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If F/X quote, should be the "all-in" rate (spot rate adjusted for forward points). Note that either BidPx, OfferPx or both must be specified.
If F/X quote, should be the "all-in" rate (spot rate adjusted for forward points). Note that either BidPx, OfferPx or both must be specified.
Can be used by markets that require showing the current best bid and offer
Can be used by markets that require showing the current best bid and offer
Specifies the minimum bid size. Used for markets that use a minimum and maximum bid size.
Specifies the bid size. If MinBidSize is specified, BidSize is interpreted to contain the maximum bid size.
Specifies the minimum offer size. If MinOfferSize is specified, OfferSize is interpreted to contain the maximum offer size.
Specified the offer size. If MinOfferSize is specified, OfferSize is interpreted to contain the maximum offer size.
The time when the QuoteResponse(35=AJ) will expire. Required for FI when the QuoteRespType(694) is either 1 (Hit/Lift) or 2 (Counter quote) to indicate to the respondent when the offer is valid until.
May be applicable for F/X quotes
May be applicable for F/X quotes
May be applicable for F/X quotes
May be applicable for F/X quotes
Can be used to specify the type of order the quote is for.
Bid F/X forward points of the future portion of a F/X swap quote added to spot rate. May be a negative value
Offer F/X forward points of the future portion of a F/X swap quote added to spot rate. May be a negative value
Can be used when the quote is provided in a currency other than the instrument's 'normal' trading currency. Applies to all bid prices contained in this quote message
Can be used when the quote is provided in a currency other than the instrument's 'normal' trading currency. Applies to all offer prices contained in this quote message
Can be used when the quote is provided in a currency other than the instruments trading currency.
CommissionDataComponent—
Can be used to show the counterparty the commission associated with the transaction.
CommissionData definition & usage →
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For Futures Exchanges
Used when routing quotes to multiple markets
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.
PriceQualifierGrpRepeating groupCount tag 2709—
PriceQualifierGrp definition & usage →
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SpreadOrBenchmarkCurveDataComponent—
SpreadOrBenchmarkCurveData definition & usage →
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YieldDataComponent—
YieldData definition & usage →
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May be used to indicate the quote/negotiation is for the specified post-execution trade continuation or lifecycle event.
Must be set if EncodedTradeContinuationText(2371) field is specified and must immediately precede it.
Encoded (non-ASCII characters) representation of the TradeContinuationText(2374) field in the encoded format specified via the MessageEncoding(347) field.
Conditionally required when QuoteQual(695) = d (Deferred spot) is specified.
StandardTrailerComponentRequired
StandardTrailer definition & usage →
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