DescriptionIn some markets it is the practice to request quotes from brokers prior to placement of an order. The Quote Request <R> message is used for this purpose. This message is commonly referred to as an Request For Quote <S> (RFQ) Quotes can be requested on specific securities or forex rates. The Quote Request <R> message can be used to request quotes on single products or multiple products. Securities quotes can be requested as either market quotes or for a specific quantity and side. If OrderQty <38> and Side <54> are absent, a market-style quote (bid x offer, size x size) will be returned. In the tradeable and restricted tradeable quote models the Quote Request <R> may be preceded by the RFQ Request <AH> message described further below. If the message is used for foreign exchange, conventions for identifying the forex transaction are as follows:
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