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1 year ago can security definition request be rejected?
Yes, a Security Definition Request (SecDefReq) message can be rejected by the counterparty.
If the counterparty is unable to fulfill the request, they may respond with a Security Status (MsgType=f) message indicating that the request was rejected. The Security Status message may contain a reason for the rejection, such as an invalid security identifier or an unsupported request type.
In addition to rejection, the counterparty may also respond with a Security Definition (SecDef) message that contains partial information about the requested security. For example, if the counterparty is unable to provide all of the requested information, they may provide what information they can and indicate which fields are missing.
It is important for the requesting party to review the response message and take appropriate action based on the information provided. If the request was rejected, the requesting party may need to revise the request and send it again, or seek out the requested information from another source.
In summary, a Security Definition Request message can be rejected by the counterparty, and the requesting party should be prepared to handle both successful and unsuccessful responses.
The Security Definition Request (SecDefReq) and Security Definition (SecDef) messages are part of the FIX (Financial Information eXchange) protocol and are used for requesting and receiving information about a security or group of securities.
The Security Definition Request (SecDefReq) message is used to request information about one or more securities from a counterparty. The message contains fields that identify the securities of interest, such as the security symbol, security type, and exchange code.
The counterparty receiving the SecDefReq message will respond with one or more Security Definition (SecDef) messages. These messages contain detailed information about the requested securities, such as the contract size, tick size, settlement information, and other characteristics. The SecDef messages may also include information about related securities, such as options or futures contracts that are related to the underlying security.
The Security Definition Request and Security Definition messages are used in a variety of scenarios, such as when a trader needs to retrieve information about a security before placing an order, or when a risk management system needs to update its records about the characteristics of a security.
Overall, the SecDefReq and SecDef messages are important components of the FIX protocol for requesting and receiving detailed information about securities, helping to ensure that accurate and up-to-date information is available to traders and other market participants.