/*]]>*/

Mass Quote Execution Protection

This test verifies that your system can submit a Mass Quote with with Execution Protection and reset Mass Quote Protection after it has been triggered.

Note: This procedure refers to “first”, “second”, and “third” quotes on Mass Quotes.  The order of quotes is determined by looking at the first repeating group starting after the first instance of tag 295-NoQuoteEntries in the message.

Note: This test is mandatory if you selected "Execution" in response to the Interview question, “What Mass Quote Protection Parameters will your system support?”

 

1. To run a Mass Quote Execution Protection test:

1. From the Contract drop-down, select the desired contract if the contract is not already locked.
2. Click the "START TEST" button.

Note: DO NOT select the "START TEST" button once the test process is in progress.

3. Submit a two-sided Mass Quote (tag 35-MsgType=i) message with more than one quote from the same instrument group, each having a quantity greater than 100.

4. Select "Yes" or "No" to indicate whether or not your system processed the Quote Acknowledgment [35=b, 297-QuoteAckStatus=0 (Accepted)] message accepting all of the instrument quotes.

5. Submit another two-sided Mass Quote (35=i) for a different instrument in the same instrument group used in step 1.

6. Select "Yes" or "No" to indicate whether or not your system processed the following messages:

• Execution Report - Fill Notice
• Quote Cancel Acknowledgment (35=b, 9775-UnsolicitedCancelType=F [Market Maker Protection])

• Quote Acknowledgment (35=b, 297=5 [Rejected], 300-QuoteRejectReason=98 [Market Maker Protection], 58-Text=[Market Maker Protection], 368-QuoteEntryRejectReason= [Market Maker Protection])

7. Submit a two-sided Mass Quote (35=i) message (for the same instrument used in step 3), specifying that Mass Quote Protection should be reset (9773-MMProtectionReset=Y).
8. Select "Yes" or "No" to indicate whether or not your system processed the Quote Acknowledgment [35=b, 297-QuoteAckStatus=0 (Accepted)] message accepting all of the instrument quotes.
9. Submit a two-sided Mass Quote (35=i) message (a different instrument from the same instrument group used in step 7) with more than one quote from the same instrument group.
10. Select "Yes" or "No" to indicate whether or not your system processed the Quote Acknowledgment (35=b, 297-QuoteAckStatus=0 (Accepted)] message accepting all of the instrument quotes.