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Target Platforms
This gateway supports both BAML InstinctFX and BAMLX:
- BAML InstinctFX offers Spot, Forward and NDF pricing and orders. Clients who wants to trade Forwards and NDFs will need to be configured on InstinctFX by BAML.
- BAMLX offers ultra low latency pricing and orders for SPT trading where clients will have reduced rejection rates and Spot orders are filled faster in comparison to Instinct FX.
Workflow
Taker ESP.
Supported Instruments
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PreviouslyQuoted
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IOC
FOK
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IOC
FOK
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PreviouslyQuoted
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IOC
FOK
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IOC
FOK
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PreviouslyQuoted
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IOC
FOK
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IOC
FOK
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For previously quoted orders the filled price ( Clients have to request this feature to be enabled on their session if they wish to make use of this feature. |
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Venue does not support NDF crosses. All NDF trades are settled in USD. |
Clients can subscribe to and trade on Base and Term currency pairs for all Security Types (Spot, Forward and NDF).
Please note that the venue does not support FIX session synchronisation.
Session Configuration
The MF gateway will send multiple QuoteRequests to the Venue, one for each NoUnderlyings.UnderlyingQty.
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The venue behaviour in response to these quote requests depends on the venue-side configuration agreed between Client and BAML as to whether they want the venue session to deliver individual In either case, the client will always receive the standard ESP |
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Session Type
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SecurityType
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Venue Sends
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Description
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Quote
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SPT
FWD
NDF
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Quotes that the MF gateway received in response to each QuoteRequest will be assembled and published as a MassQuote with n levels of prices.
For eg: If client subscribed to 1MM, 5MM and 10MM price levels, venue will receive 3 QuoteRequest messages for each price level. In response venue will send separate Quotes for each price level. MF will publish one MassQuote message with all 3 price levels. If MF gateway received a Quote message from venue with 1MM price first., then the client will receive a MassQuote with one price level. As and when the next Quote is received with 5MM price from the venue, MF will publish another MassQuote with both 1MM and 5MM prices.
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MassQuote
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SPT
FWD
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Venue will publish one MassQuote with all requested prices levels as and when the prices for the requested levels are available.
For eg: If a client subscribed to prices for 1MM, 3MM and 5MM, InstinctFX will publish a single MassQuote message with all 3 prices levels if prices are available. You may find only one price level [usually 1MM in this case] published in venue MassQuote soon after your subscription., but the subsequent MassQuote messages will have all 3 price levels.
Note: NDF-specific fields are not supported in the BAML MassQuote message, so if a client wants to trade on NDFs, they should be configured in a Quote session only.
PartyIDs
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Please refer to Whisperer Enterprise - PartyIDs for the full Enterprise table across all venues.
Regulatory Fields
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Please refer to or Regulatory Fields for the full Enterprise table across all venues.
PassThru Fields
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Please refer to Passthru Fields for the full Enterprise table across all venues.
Overview
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