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1 year ago The Security List Request message is used to obtain a list of securities that match certain criteria, such as security type, market, sector, or other attributes. It allows the requester to get a broad overview of available securities.
Once the requester has received the Security List and identified a specific security of interest from the list, they can then send a Security Definition Request message to obtain detailed information about that particular security. The Security Definition Request message typically includes the security's symbol, exchange code, or other identifiers to specify the security for which detailed information is being requested.
In the Security Definition Request message, specific fields can be included to indicate the type of information needed, such as contract specifications, trading characteristics, market data, or other relevant details. The exact fields and their usage in the Security Definition Request message depend on the specific implementation and requirements of the trading system or the FIX protocol version being used.
In the context of financial markets and trading systems, the terms "Security List Request," "Security List," and "Security List Request Reject" are related to the FIX (Financial Information eXchange) protocol. FIX is a widely used messaging standard for electronic communication in the financial industry.
Security List Request: A Security List Request is a message sent by a trading system or a market participant to request a list of securities from a counterparty or an exchange. The request typically includes criteria such as security type, market, sector, or any other relevant attributes to filter the desired list of securities. It allows the requester to obtain information about available securities that meet specific criteria.
Security List: A Security List is the response to a Security List Request. It contains a list of securities that match the requested criteria. Each security in the list is identified by its symbol, exchange code, and other relevant information. The Security List message provides details about the securities that the counterparty or exchange supports, allowing the requester to make informed trading decisions.
Security List Request Reject: A Security List Request Reject is a message sent by the counterparty or exchange in response to a Security List Request when it cannot fulfill the request. This rejection message might be due to various reasons, such as invalid or unsupported request parameters, lack of permissions, or technical issues. The rejection message typically includes the reason for the rejection, allowing the requester to identify and resolve the issue.
Regarding the order of these messages, a Security List Request is typically sent before a Security Definition Request. The Security List Request allows the requester to obtain a list of available securities that meet certain criteria. Once the requester has identified the desired security from the list, they can then send a Security Definition Request to request detailed information about a specific security or a set of securities. The Security Definition Request is used to obtain information such as contract specifications, trading characteristics, market data, and other relevant details for a specific security.