Mass Quote Protection

The purpose of this test is to verify that the client system can:

  • Submit a Mass Quote with protection
  • 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.

Pre-Registered or On-Demand Format

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

 

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

 

  1. Select a SenderComp from the drop-down and select ASSIGN if a SenderComp is not already assigned.
  2. Click the "START TEST" button.

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

  1. To run a Mass Quote Protection test:
  1. Over an iLink connection, submit a two-sided Mass Quote with more than one quote from the same instrument group, each having a quantity greater than 100.
  2. Select Yes or No to indicate whether your system received and processed the Mass Quote Acknowledgment.
  3. Submit a second two-sided Mass Quote for a different instrument in the same instrument group used in step 1.
  4. Select Yes or No to indicate whether your system received and processed the Execution Report - Trade Outright (Partially Filled).
  5. Select Yes or No to indicate whether your system received and processed the Quote Cancel Acknowledgment.
  6. Select Yes or No to indicate whether your system received and processed the Mass Quote Acknowledgment (Rejected).
  7. Submit a two-sided Mass Quote (for the same instrument used in step 3) specifying that the mass quote protection was reset.
  8. Select Yes or No to indicate whether your system received and processed the Mass Quote Acknowledgment.
  9. Submit a two-sided Mass Quote (a different instrument in 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 your system received and processed the Mass Quote Acknowledgment.