Mass Quote Acknowledgement (MsgType = b, FIXML = MassQuotAck)

Mass Quote (S) Acknowledgement is used as the application level response to a Mass Quote (S) message. The Mass Quote (S) Acknowledgement contains a field for reporting the reason in the event that the entire quote is rejected (QuoteRejectReason[300]). The Mass Quote (S) 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 Mass Quote (S) 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 Mass Quote (S) message is specified using the QuoteResponseLevel[301] field.

Tag Field Name FIXML Req'd Comments
<Standard Message Header> Y MsgType = b
131 QuoteReqID @ReqID N Required when acknowledgment is in response to a Quote Request (R) message
117 QuoteID @QID N 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 @Stat Y Status of the mass quote acknowledgement.
300 QuoteRejectReason @RejRsn N Reason quote was rejected.
301 QuoteResponseLevel @RspLvl N Level of Response requested from receiver of quote messages. Is echoed back to the counterparty.
537 QuoteType @Typ N Type of Quote
298 QuoteCancelType @CxlTyp N
<Parties> N Insert here the set of "Parties" (firm identification) fields defined in "Common Components of Application Messages".
1 Account @Acct N
660 AcctIDSource @AcctIDSrc N
581 AccountType @AcctTyp N Type of account associated with the order (Origin)
58 Text @Txt N
354 EncodedTextLen @EncTxtLen C
355 EncodedText @EncTxt C
296 NoQuoteSets QuotSetAck N The number of sets of quotes in the message
=> 302 QuoteSetID @SetID C First field in repeating group. Required if NoQuoteSets (296) > 0
=> <UnderlyingInstrument> C Insert here the set of "UnderlyingInstrument" fields defined in "Common Components of Application Messages". Required if NoQuoteSets (296) > 0
=> 304 TotNoQuoteEntries @TotNoQuotEntries C Total number of quotes for the QuoteSet across all messages. Should be the sum of all NoQuoteEntries (295) in each message that has repeating quotes that are part of the same QuoteSet. Required if NoQuoteEntries (295) > 0
=> 1168 TotNoCxldQuotes @TotNoCxldQts N Total number of quotes canceled for the QuoteSet across all messages.
=> 1169 TotNoAccQuotes @TotNoAccQts N Total number of quotes accepted for the QuoteSet across all messages.
=> 1170 TotNoRejQuotes @TotNoRejQts N Total number of quotes rejected for the QuoteSet across all messages.
=> 893 LastFragment @LastFragment N Indicates whether this is the last fragment in a sequence of message fragments. Only required where message has been fragmented.
=> 295 NoQuoteEntries QuotEntryAck N The number of quotes for this Symbol (55) (QuoteSet) that follow in this message.
=> => 299 QuoteEntryID @EntryID C Uniquely identifies the quote across the complete set of all quotes for a given quote provider. First field in repeating group. Required if NoQuoteEntries (295) > 0.
=> => <Instrument> N Insert here the set of "Instrument" fields defined in "Common Components of Application Messages".
=> => 555 NoLegs Leg N Number of legs Identifies a Multi-leg Execution if present and non-zero.
=> => => <InstrumentLeg> C Must be provided if Number of legs > 0
=> => 132 BidPx @BidPx C If F/X quote, should be the "all-in" rate (spot rate adjusted for forward points). Note that either BidPx, OfferPx (133) or both must be specified.
=> => 133 OfferPx @OfrPx C If F/X quote, should be the "all-in" rate (spot rate adjusted for forward points). Note that either BidPx, OfferPx (133) or both must be specified.
=> => 134 BidSize @BidSz N
=> => 135 OfferSize @OfrSz N
=> => 62 ValidUntilTime @ValidUntilTm N
=> => 188 BidSpotRate @BidSpotRt N May be applicable for F/X quotes
=> => 190 OfferSpotRate @OfrSpotRt N May be applicable for F/X quotes
=> => 189 BidForwardPoints @BidFwdPnts N May be applicable for F/X quotes
=> => 191 OfferForwardPoints @OfrFwdPnts N May be applicable for F/X quotes
=> => 631 MidPx @MidPx N
=> => 632 BidYield @BidYld N
=> => 633 MidYield @MidYld N
=> => 634 OfferYield @OfrYld N
=> => 60 TransactTime @TxnTm N
=> => 336 TradingSessionID @SesID N
=> => 625 TradingSessionSubID @SesSub N
=> => 64 SettlDate @SettlDt N Can be used with forex quotes to specify a specific "value date".
=> => 40 OrdType @OrdTyp N Can be used to specify the type of order the quote is for
=> => 193 SettlDate2 @SettlDt2 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 @Qty2 N Can be used with OrdType (40) = "Forex - Swap" to specify the order quantity for the future portion of a F/X swap.
=> => 642 BidForwardPoints2 @BidFwdPnts2 N Bid F/X forward points of the future portion of a F/X swap quote added to spot rate. May be a negative value
=> => 643 OfferForwardPoints2 @OfrFwdPnts2 N Offer F/X forward points of the future portion of a F/X swap quote added to spot rate. May be a negative value
=> => 15 Currency @Ccy N Can be used to specify the currency of the quoted price.
=> => 1167 QuoteEntryStatus @QtEntSts N
=> => 368 QuoteEntryRejectReason @EntryRejRsn N Reason Quote (S) Entry was rejected.
<Standard Message Trailer> Y