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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

title	Example:
collapse	true

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

title	Mandatory 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.

Note

title	Pricing Constraints

QuoteRequests - The default maximum number of parallel requests is 20. Please contact 360T support if you require a higher number.
Blocks - The venue does not support TwoWay pricing for Blocks, and such request are rejected by WE.
Allocations -The venue only supports Single a single allocation per leg.
Stream Duration- The client can specify desired desired ExpireTime as an optional BodyPassThru field in the QuoteRequest. This limit by default is 1 minute for Spot and 5 minutes for all other products, but can be configured per customer and product.

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Versions Compared

Old Version 6

New Version 8

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