Code Set
IOIQualifierCodeSet
| ID | 104 |
| Type | char |
| Pedigree | Added FIX.3.0 |
Code to qualify IOI use. (see Volume : "Glossary" for value definitions)
| Name | Value | Synopsis | Elaboration | Pedigree |
|---|---|---|---|---|
| AllOrNone | A | All or None (AON) | Added FIX.3.0, Updated EP225 | |
| MarketOnClose | B | Market On Close (MOC) (held to close) | Added FIX.4.3, Updated EP225 | |
| AtTheClose | C | At the close (around/not held to close) | Added FIX.3.0, Updated EP225 | |
| VWAP | D | VWAP (Volume Weighted Average Price) | Added FIX.4.3, Updated EP225 | |
| Axe | E | Axe | Indicates that a quote is an Axe, without specifying a side preference. Mutually exclusive with F(Axe on bid) and G(Axe on offer). | Added EP184, Updated EP225 |
| AxeOnBid | F | Axe on bid | Indicates that a quote is an Axe, with a preference to execute on the bid side. Mutually exclusive with E(Axe) and G (Axe on offer) | Added EP184, Updated EP225 |
| AxeOnOffer | G | Axe on offer | Indicates that a quote is an Axe, with a preference to execute on the offer side. Mutually exclusive with E(Axe) and F (Axe on bid) | Added EP184, Updated EP225 |
| ClientNaturalWorking | H | Client natural working | With reference to the AFME/IA Framework for Indications of Interest, this is to be used to denote IOIs of type C2 – Client Natural (Working). A client should be able to seek verification (from IOI publisher’s management/compliance) that, for any C2 IOIs received, there was a corresponding live client order for at least the advertised size prior to the IOI being generated. Resulting trades are expected to be of a riskless nature. | Added EP225 |
| InTouchWith | I | In touch with | With reference to the AFME/IA Framework for Indications of Interest, this is to be used to denote IOIs of type P1 - Potential. Post-execution, a client should be able to seek verification (from IOI publisher’s management/ compliance) that, for any P1 IOIs received and executed against, there was by time of the execution, an opposing specific client order. Resulting trades are expected to be of a riskless nature. If the anticipated client order does not materialise, and the broker elects to commit capital, this must be disclosed prior to execution. | Added FIX.3.0, Updated EP225 |
| PositionWanted | J | Position wanted | With reference to the AFME/IA Framework for Indications of Interest, this is to be used to denote IOIs of type H2 – Position Wanted. Brokers will be likely be sourcing liquidity and therefore may advertise the size of IOI they wish; however, clients can expect the broker to honour the size of IOI shown. The presumption is that there is no intent to immediately unwind the position without notification, however, brokers may provide additional granularity to the category and may offer bilateral post trade commitments. Brokers will also offer clients a feedback mechanism. | Added EP225 |
| MarketMaking | K | Market making | With reference to the AFME/IA Framework for Indications of Interest, this is to be used to denote IOIs of type H3 – Market Making, no enforcement is required. | Added EP225 |
| Limit | L | Limit | Added FIX.3.0, Updated EP225 | |
| MoreBehind | M | More Behind | Added FIX.3.0, Updated EP225 | |
| ClientNaturalBlock | N | Client natural block | With reference to the AFME/IA Framework for Indications of Interest, this is to be used to denote IOIs of type C1 - Client Natural (Block). A client should be able to seek verification (from IOI publisher’s management/compliance) that, for any C1 IOIs received, there was a corresponding live client order for at least the advertised size prior to the IOI being generated. Resulting trades are expected to be of a riskless nature. | Added EP225 |
| AtTheOpen | O | At the Open | Added FIX.3.0, Updated EP225 | |
| TakingAPosition | P | Taking a Position | Added FIX.3.0, Updated EP225 | |
| AtTheMarket | Q | At the Market (previously called Current Quote) | Added FIX.3.0, Updated EP225 | |
| ReadyToTrade | R | Ready to Trade | Added FIX.4.2, Updated EP225 | |
| PortfolioShown | S | Inventory or Portfolio Shown | Added FIX.3.0, Updated EP225 | |
| ThroughTheDay | T | Through the Day | Added FIX.3.0, Updated EP225 | |
| Unwind | U | Unwind | With reference to the AFME/IA Framework for Indications of Interest, this is to be used to denote IOIs of type H1 - Unwind. Brokers will be responsible for ensuring that the size of the IOI reflects the actual house position in the relevant business unit and should not inflate the size of the IOI. The presumption is that there is no intent to immediately replace the position without notification, however, brokers may provide additional granularity to the category and may offer bilateral post trade commitments. Brokers will also offer clients a feedback mechanism. | Added EP225 |
| Versus | V | Versus | Added FIX.3.0, Updated EP225 | |
| Indication | W | Indication - Working Away | Added FIX.3.0, Updated EP225 | |
| CrossingOpportunity | X | Crossing Opportunity | Added FIX.3.0, Updated EP225 | |
| AtTheMidpoint | Y | At the Midpoint | Added FIX.4.1, Updated EP225 | |
| PreOpen | Z | Pre-open | Added FIX.4.1, Updated EP225 | |
| QuantityNegotiable | 1 | Quantity is negotiable | When specified, the dealer may counter with a reduced quantity in its Quotes in response to QuoteRequest(35=R). All-or-none if omitted. | Added EP226 |
| AllowLateBids | 2 | Allow late bids | When specified in QuoteRequest(35=R) the dealer may submit quotes after curtain time has elapsed. | Added EP226 |
| ImmediateOrCounter | 3 | Immediate or counter | When specified, the buy-side customer is permitted to counter a firm quote during wiretime. | Added EP226 |
| AutoTrade | 4 | Auto trade | Trade is in an auto-trading mode whereby the best quote that satisfies user criteria as determined by the trading platform will be accepted automatically. | Added EP226 |
| AutomaticSpot | a | Automatic spot | At completion of price negotiation based on spread the trading platform will propose a benchmark spot price which may be filled immediately by the dealer or countered. | Added EP226 |
| PlatformCalculatedSpot | b | Platform calculated spot | At completion of price negotiation based on spread the trading platform will supply a benchmark spot price and immediately complete the trade reporting fill. There is no dealer last look. | Added EP226 |
| OutsideSpread | c | Outside spread | The IOI is identifiable outside the current bid/offer. | Added EP225 |
| DeferredSpot | d | Deferred spot | At a future time after completion of price negotiation based on spread and reported in StrikeTime(443) the trading platform will propose a benchmark spot price which may be filled immediately by the dealer or countered. | Added EP226 |
| NegotiatedSpot | n | Negotiated spot | Once price negotiation based on spread is completed negotiation of the benchmark spot price proceeds immediately. | Added EP226 |
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