BidRequest (MsgType = k, FIXML = BidReq)

The Bid Request (k) Message can be used in one of two ways depending on which market conventions are being followed.

In the Non disclosed convention (e.g. US/European model) the Bid Request (k) message can be used to request a bid based on the sector, country, index and liquidity information contained within the message itself. In the Non disclosed convention the entry repeating group is used to define liquidity of the program. See "Program/Basket/List Trading"for an example.

In the Disclosed convention (e.g. Japanese model) the BidRequest message can be used to request bids based on the ListOrderDetail messages sent in advance of Bid Request (k) message. In the Disclosed convention the list repeating group is used to define which ListOrderDetail messages a bid is being sort for and the directions of the required bids.

The pair of fields SideValue1 (396) and SideValue2 (397) are used to show the monetary total value in either direction (buy or sell) of the transaction without revealing whether it is the buy-side institutions intention to buy or sell.

The two repeating groups, NoEntries and NoBidComponents (420) are mutually exclusive and a function of which bidding model is being used. If the Non Disclosure method is being used the portfolio of stocks being traded is described by a number of bid descriptors entries. If the Disclosure Method is being used the portfolio is fully disclosed, except for side, by a number of list entries enumerating the lists that list the stocks to be traded.

A Bid Request (k) message with BidRequestTransType (374) cancel may be used to indicate to sell side firms that they no longer need to store details of the Bid Request (k) as they have either lost the bid or the List has been canceled.

Tag	Field Name	FIXML	Req'd	Comments
<Standard Message Header>			Y	MsgType = k
390	BidID	@BidID	N	Encoded (non-ASCII characters) representation of the Text (58) field in the encoded format specified via the MessageEncoding (347) field.
391	ClientBidID	@ClBidID	Y	Unique identifier for a Bid Request as assigned by institution. Uniqueness must be guaranteed within a single trading day.
374	BidRequestTransType	@BidReqTransTyp	Y	Identifies the Bid Request message transaction type
392	ListName	@ListName	N	Descriptive name for list order.
393	TotNoRelatedSym	@TotNoReltdSym	Y	Total number of securities. (Prior to FIX 4.4 this field was named TotalNumSecurities)
394	BidType	@BidTyp	Y	e.g. "Non Disclosed", "Disclosed", No Bidding Process
395	NumTickets	@NumTkts	N	Total number of tickets/allocations assuming fully executed
15	Currency	@Ccy	N	Used to represent the currency of monetary amounts.
2897	CurrencyCodeSource	@CcySrc	N	Identifies class or source of the Currency(15) value.
396	SideValue1	@SideValu1	N	Expressed in Currency
397	SideValue2	@SideValu2	N	Expressed in Currency
<BidDescReqGrp>			N	Used if BidType="Disclosed"
<BidCompReqGrp>			N	Used if BidType="Disclosed"
409	LiquidityIndType	@LqdtyIndTyp	N	Code to identify the type of liquidity indicator.
410	WtAverageLiquidity	@WtAvgLqdty	N	Overall weighted average liquidity expressed as a % of average daily volume
411	ExchangeForPhysical	@EFP	N	Indicates whether or not to exchange for phsyical.
412	OutMainCntryUIndex	@OutMainCntryUNdx	N	% value of stocks outside main country in Currency
413	CrossPercent	@CrssPct	N	% of program that crosses in Currency
414	ProgRptReqs	@ProgRptReqs	N	Code to identify the desired frequency of progress reports.
415	ProgPeriodInterval	@ProgPeriodIntvl	N	Time in minutes between each ListStatus report sent by SellSide. Zero means don't send status.
416	IncTaxInd	@IncTaxInd	N	Net/Gross
121	ForexReq	@ForexReq	N	Is foreign exchange required
417	NumBidders	@NumBidders	N	Indicates the total number of bidders on the list
75	TradeDate	@TrdDt	N	Indicates date of trading day. Absence of this field indicates current day (expressed in local time at place of trade).
418	BidTradeType	@BidTrdTyp	Y	Code to represent the type of trade. (Prior to FIX 4.4 this field was named "TradeType")
419	BasisPxType	@BasisPxTyp	Y	Code to represent the basis price type.
443	StrikeTime	@StrkTm	N	Used when BasisPxType = "C"
58	Text	@Txt	N	Free format text string (Note: this field does not have a specified maximum length)
354	EncodedTextLen	@EncTxtLen	C	Must be set if EncodedText field is specified and must immediately precede it.
355	EncodedText	@EncTxt	C	Encoded (non-ASCII characters) representation of the Text field in the encoded format specified via the MessageEncoding field.
<Standard Message Trailer>			Y

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