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Comment: Published by Scroll Versions from this space and version 1.5.11

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As well as Bilateral Quote negotiation, 360T TEX also supports Basket functionality where Quote messages are received from multiple providers.

For Basket functionality, clients should specify a QuoteRequest with multiple PartyRoles as ExecutionVenue.

A list of all available LPs per SecurityType is provided for the client in the UserNotification(LoggedOn) message's  Text field in json format, as per the example below: 

Code Block
titleExample:
collapsetrue
8=FIXT.1.1|9=106|35=CB|49=GW.ven.t360_tex.RFS|56=testuser|34=3|52=20231212-10: 54: 02.073125423|926=1|58={
  "Status": "Venue connected.",
  "LPs": {
    "BLK": [
      "RBS.LND.DEMO",
      "SOCGEN.LND.DEMO",
      "COBA.DEMO",
      "RBC.DEMO",
      "CITIBANK.DEMO",
      "BOAL.DEMO"
    ],
    "FWD": [
      "RBS.LND.DEMO",
      "SOCGEN.LND.DEMO",
      "COBA.DEMO",
      "RBC.DEMO",
      "CITIBANK.DEMO",
      "BOAL.DEMO"
    ],
    "SPT": [
      "RBS.LND.DEMO",
      "SOCGEN.LND.DEMO",
      "COBA.DEMO",
      "RBC.DEMO",
      "CITIBANK.DEMO",
      "BOAL.DEMO"
    ],
    "SWP": [
      "RBS.LND.DEMO",
      "SOCGEN.LND.DEMO",
      "COBA.DEMO",
      "RBC.DEMO",
      "CITIBANK.DEMO",
      "BOAL.DEMO"
    ],
    "NDF": [
      "RBS.LND.DEMO",
      "SOCGEN.LND.DEMO",
      "COBA.DEMO",
      "RBC.DEMO",
      "CITIBANK.DEMO",
      "BOAL.DEMO"
    ],
    "NDS": [
      "RBS.LND.DEMO",
      "SOCGEN.LND.DEMO",
      "COBA.DEMO",
      "RBC.DEMO",
      "CITIBANK.DEMO",
      "BOAL.DEMO"
    ]
  }
}|10=187|


For Basket functionality, clients can specify a QuoteRequest with multiple PartyRole ExecutionVenue.

There are 3 options available  available for clients to utilize this functionality.

  • Single LP (Bilateral) - QuoteRequest contains  contains NoPartyIDs group with single PartyID as LP name, and clients will receive single PartyRole ExecutionVenue with PartyID populated with a LP. Clients will receive Quote message from requested LP.
  • Multiple LP's LPs (Basket) - QuoteRequest contains NoPartyIDs  group is provided with multiple PartyID's, one for each LP, and clients will receive single MassQuote message with multiple PartyRole ExecutionVenues with PartyIDs populated with LPs. Clients will receive MassQuote messages with each LP as an individual a QuoteEntry.
  • All LP'sLPs  (Basket) NoPartyIDs group is not provided and thus MassQuote is received for all available LP's where each LP is an individual QuoteEntryQuoteRequest does not contain PartyRole ExecutionVenue in NoPartyIDs. Clients will subscribe to all available LPs and they will receive Massquote messages with each LP as a QuoteEntry.


Warning
titleMandatory field - LegMaturityDate

For NDF/NDS/NDB, it is mandatory to populate LegMaturityDate in the QuoteRequest. Otherwise, the Venue will interpret the request as deliverable rather than non deliverable.

This is breaking the normalised client behaviour on this venue.  But rather than enforcing this field for all other venues, this is considered the best approach for now on this specific venue.

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