Bid Response (MsgType = l, FIXML = BidRsp)

The Bid Response (l) message can be used in one of two ways depending on which market conventions are being followed.

In the "Non disclosed" convention the Bid Response (l) message can be used to supply a bid based on the sector, country, index and liquidity information contained within the corresponding bid request message. See "Program/Basket/List Trading" for an example.

In the "Disclosed" convention the Bid Response (l) message can be used to supply bids based on the List Order Detail messages sent in advance of the corresponding Bid Request (k) message.

Tag Field Name FIXML Req'd Comments
<Standard Message Header> Y MsgType = l
390 BidID @BidID N
391 ClientBidID @ClBidID N
420 NoBidComponents CompRsp Y Number of bid repeating groups
=> <Commission Data> Y First element of price. Required if NoBidComponents (420) > 0.
=> 66 ListID @ListID N
=> 421 Country @Ctry N ISO Country Code
=> 54 Side @Side N When used in response to a "Disclosed" request indicates whether SideValue1 (396) is Buy or Sell. SideValue2 (397) can be derived by inference.
=> 44 Price @Px N Second element of price
=> 423 PriceType @PxTyp N
=> 406 FairValue @FairValu N The difference between the value of a future and the value of the underlying equities after allowing for the discounted cash flows associated with the underlying stocks (E.g. Dividends etc).
=> 430 NetGrossInd @NetGrossInd N Net/Gross
=> 63 SettlType @SettlTyp N
=> 64 SettlDate @SettlDt C Takes precedence over SettlType (63) value and conditionally required/omitted for specific SettlType (63) values.
=> 336 TradingSessionID @SesID N
=> 625 TradingSessionSubID @SesSub N
=> 58 Text @Txt N
=> 354 EncodedTextLen @EncTxtLen C Must be set if EncodedText (355) field is specified and must immediately precede it.
=> 355 EncodedText @EncTxt C Encoded (non-ASCII characters) representation of the Text (58) field in the encoded format specified via the MessageEncoding (347) field.
<Standard Message Trailer> Y