Implied matching status at the instrument level (tag 55-Symbol) applies to a given instrument only. Tag 48-SecurityID uniquely identifies instruments on the incremental feed.This topic provides information on MDP 3.0 Implied Matching Status.
Implied Matching Status is managed at the Asset (Product) level (tag 462-UnderlyingProduct), per Asset (tag 6937-Asset), within a Security Group (tag 1151-SecurityGroup), and at the instrument level (tag 55-Symbol) for a given instrument. Applicable instrument attributes can be obtained in the Security Definition (tag 35-MsgType=d) message. Instruments for a given Asset may be split across multiple Security Groups.
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Example 1 - Managing Implied Statuses with Different Security Groups
In this example implied matching is turned on for the security group "CM" and asset "CVF". However, implied matching continues to be OFF for security group "ZZ" and asset "CVF" due to the different security group.
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The following diagram demonstrates how to manage implied matching status at the instrument level, the client system first must process the Security Definition (tag 35-MsgType=d) messages to obtain the instrument information, then process the Security Status (tag 35-MsgType=f) message to obtain market state, instrument state, and Implied Matching Status for the Security Group, Asset, and instrument.
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