In addition to Quote Acknowledgment messages received in response to Quote Cancel messages, client systems can also receive unsolicited Quote Acknowledgment messages in response to cancels initiated by the CME Globex platform. The unsolicited cancel code is contained in tag 9775-UnsolicitedCancelTypes; the reason text will not be sent in the message.
Quote Cancel – iLink
Disconnect and Failure Scenarios
CME Group provides a quote cancellation program whereby the CME Global Command Center (GCC), on a best-efforts basis, attempts to send Quote Cancel messages on behalf of the customer in the following two situations:
- The CME Globex platform detects a system failure that does not automatically cancel quotes when the Mass Quote customer logs off of an iLink 2.X session. session is gracefully disconnected from the iLink gateway (i.e. a voluntary iLink2.X log out or iLink 3 terminate initiated by the client system). If the Mass Quote customer is experiencing difficulties with their session logoff or termination attempt, GCC will attempt to send Quote Cancel messages for the Mass Quote customer.
- During certain CME Globex platform connectivity failure situations, GCC will attempt to send Quote Cancel messages on behalf of the Mass Quote customer.
When a disconnect is detected without preceding Quote Cancel messages, the GCC will attempt to cancel resting quotes on behalf of the Mass Quote customer. CME Group cannot guarantee that all failure scenarios will necessarily generate the appropriate Quote Cancel messages and/or alert mechanisms. Therefore, client systems submitting Mass Quotes must always explicitly cancel all quotes before logging off. In the case of a disconnection, Mass Quote customers must verify their quote status either by immediately reconnecting and logging in to confirm the quote cancellation, or by calling the GCC to request resubmission of Quote Cancel messages on their behalf.