CME Globex responds to a Mass Quote with the Quote Acknowledgment notifying the customer of accepted or rejected quotes. In some cases, the response to a Mass Quote is a iLink 2 Business Level Reject.
Mass Quotes - Business Level Reject
CME Globex platform sends a Business Level Reject (tag 35-MsgType=j) message for the mass quote if a repeating group (i.e., tier 2 and 3) within an incoming Mass Quote message contains invalid tags or tags that belong to a different tier according to the FIX 4.2 protocol. The CME Globex platform ignores custom tags and misplaced tags included in tier 1 of the Mass Quote (tag 35-MsgType=i) message.
In such an instance, a Business Level Reject message is sent with tag 380-BusinessRejectReason containing a value from the table below:
Tag | FIX Name | Req | Valid Values | Type | Description |
|---|---|---|---|---|---|
45 | RefSeqNum | N |
SeqNum (10) | Tag 34-MsgSeqNum of the message being rejected. | |
372 | RefMsgType | Y |
String (2) | Tag 35-MsgType of the message being rejected. | ||
379 | BusinessRejectRefID | N |
String (32) | Identifier of the message being rejected. | ||||
380 | BusinessRejectReason | Y* | 0=Other | Int (2) | Code to identify the reason of the rejection: |
58 | Text | Y* |
String (80) | Additional information on the reject reason. |
Y = FIX required Y* = CME Group required N = Not required
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