This page describes specific mock instruments for RFQ trading in Paper/UAT. If you are looking to test regular Market Data and Order Entry flow, please refer to the Orders Mock Instruments Guide.
RFQ
Moment maintains a separate set of testing instruments for RFQ behavior. When an RFQ is submitted for one of these special instruments, these will follow a different venue lifecycle, as specified below. Unless otherwise specified, each special instrument can apply to both BIN and ASAP RFQs.
| CUSIP | Summary | Lifecycle |
|---|---|---|
| Default ASAP | Default behavior for ASAP RFQ | 1. Approved or rejected by pre-trade checks. 2. Some quotes are returned for the RFQ immediately. 3. Client may trade against any of the quotes before the expire time. 4. Executions or rejects will flow back to the client, subject to execution. |
| Default BIN | Default behavior for BIN RFQ | 1. Approved or rejected by pre-trade checks. 2. Some quotes are returned for the RFQ at due time. 3. Client may trade against any of the quotes after the due time and before the expire time. 4. Executions or rejects will flow back to the client, subject to execution. |
17327T2R6 | No quotes from venue | 1. Approved or rejected by pre-trade checks. 2. No quotes are returned for the RFQ. |
91502PAP1 | RFQ request rejected by venue | 1. Approved or rejected by pre-trade checks. 2. Venue rejects the RFQ request. |
U57346AH8 | RFQ request accepted, trades rejected | 1. Approved or rejected by pre-trade checks. 2. Some quotes are returned for the RFQ. 3. Venue immediately rejects quote responses from client. |
209111FQ1 | RFQ request accepted, trade fill deferred | 1. Approved or rejected by pre-trade checks. 2. Some quotes are returned for the RFQ. 3. On quote response, venue will respond with a fill after a minute. |
14054DAM9 | RFQ request accepted, trade reject deferred | 1. Approved or rejected by pre-trade checks. 2. Some quotes are returned for the RFQ. 3. On quote response, venue will respond with a reject after a minute. |