Quote Request (MsgType = R, FIXML = QuoteReq)

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

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