Mass Quote Protection Tests

The following instructions illustrate the process to run and complete mass quote protection tests.

  • To select the test:
  1. Select a SenderComp from the drop-down and select ASSIGN if not already assigned.
  1. From the Test Suite tab, select from the following linked tests then proceed to the specific instructions.
  1. Use the Instrument(s) drop down menu to choose an instrument and channel and click SELECT.
  2. Click the START TEST button.

Note:
If a test is not proceeding to the next step, clicking the Refresh button () below the test steps may resolve the issue.

Referential information is included for messages sent / received during the test.

Mass Quote Protection for Pre-Registered / On-Demand Format

The purpose of this test is to verify that the client system can submit a Mass Quote with protection and receive and process the Acknowledgement and Fill messages. In addition, verify that the client system can reset the Market Maker Protection after it has been triggered.

Note: This test is used for both Pre-Registered and On-Demand formats. The above image shows the Pre-Registered version of the test.

  • To run the Mass Quote Protection test:
  1. Over an iLink connection, submit a two-sided Mass Quote (35=i) with more than one quote from the same instrument group, each having a quantity greater than 100.
  2. Receive and Process Mass Quote Acknowledgement (35=b, 297=0,5).
  3. Submit a second two-sided Mass Quote (35=i) for a different instrument in the same instrument group used in step 1.
  4. Receive and process Execution Report - Trade Outright [Partially Filled (tag 39-OrdStatus=1)].
  5. Receive and Process Quote Cancel Acknowledgement (35=b, 297=1,3,4,100).
  6. Receive and Process Mass Quote Acknowledgement (35=b, 297=0,5) - Rejected (tag 297-QuoteStatus=5).
  7. Submit a two-sided Mass Quote (35=i) (for the same instrument used in step 3) specifying that the mass quote protection is reset.
  8. Receive and Process Mass Quote Acknowledgement (35=b, 297=0,5).
  9. Submit a two-sided Mass Quote (35=i) (a different instrument in the same instrument group used in step 7) with more than one quote from the same instrument group.
  10. Receive and Process Mass Quote Acknowledgement (35=b, 297=0,5).

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