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Workflow

Taker RFS.

Supported Instruments

Please refer to Whisperer Enterprise - Supported Instruments for the full Enterprise table across all venues.

PartyIDs

Please refer to Whisperer Enterprise - PartyIDs for the full Enterprise table across all venues.

Regulatory Fields

Please refer to or Regulatory Fields for the full Enterprise table across all venues.

Passthru Details

Please refer to Passthru Fields for the full Enterprise table across all venues.

Details

Functionality currently not yet supported in Whisperer:

Time Options
MultiAllocations

Pricing

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:

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|

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

Single LP (Bilateral) - QuoteRequest contains NoPartyIDs group with single PartyID as LP name, and clients will receive Quote message from requested LP.
Multiple LP's (Basket) - NoPartyIDs group is provided with multiple PartyID's, one for each LP, and clients will receive single MassQuote message with each LP as an individual QuoteEntry.
All LP's (Basket) - NoPartyIDs group is not provided and thus MassQuote is received for all available LP's where each LP is an individual QuoteEntry

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.

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 a single allocation per leg.
Stream Duration- The client can specify 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.

Trading

The NewOrderMultiLeg must contain the quoteID from the quote message for the Bilateral request.

For the Basket functionality where MassQuote message is received:

ExecutionVenue per QuoteEntry is provided as EntryPassThruField indicating the Liquidity Provider name.
Clients should use QuoteEntryID from the MassQuote message, as QuoteID in the NewOrderMultiLeg.
It is recommended that PartyRole with the correct ExecutionVenue is provided in the NewOrderMultiLeg.

Please refer to RFS Basket workflow for the full Enterprise details across all venues.

NDF SettlCurrency - As per the venue, settlement occurs outside 360T TEX and the settlement currency is up to the 2 counterparts to decide.
ExecutionReport Delays - If an ExecutionReport with state Filled or Rejected is not received by the client within 10 seconds, clients must immediately contact 360T TEX support to clarify the deal status.