Ping for Liquidity Issuer Scenarios
These scenarios test sending indicative RFO (ping for liquidity) requests on the RQ session. See Initiate Request for Order.
Send Indicative RFO Request, Receive Quotes
Goal: Send a ping for liquidity request correctly and observe the response quotes.
| Step | By | Action |
|---|---|---|
| 1 | You | Send an indicative RFO request |
| 2 | OpenYield | Within the window, respond with several quotes for the size and price you want |
| Where | Observation |
|---|---|
| FIX-RQ | Your request is received |
| FIX-OB | The quotes are sent to you |
Complete Fill Quote
Goal: Check that your executions against quotes work.
| Step | By | Action |
|---|---|---|
| 1 | You | Send an indicative RFO request |
| 2 | OpenYield | Within the window, respond with several quotes for the size and price you want |
| 3 | You | Hit/lift the complete amount of a quote |
| Where | Observation |
|---|---|
| FIX-RQ | Your request is received |
| FIX-OB | The quotes are sent to you |
| FIX-TR | You place an order and receive an execution |
Partial Fill Quote
Goal: Check that your partial executions against quotes work.
| Step | By | Action |
|---|---|---|
| 1 | You | Send an indicative RFO request |
| 2 | OpenYield | Within the window, respond with several quotes for the size and price you want |
| 3 | You | Hit/lift part of a quote |
| Where | Observation |
|---|---|
| FIX-RQ | Your request is received |
| FIX-OB | The quotes are sent to you |
| FIX-TR | You place an order and receive an execution |