Overview

Request for quote is a control used for buying and selling bonds. The Kodiak implementation implements Directed Request for Quote where counterparties need to be selected to send the quote to.

Server

Setup

Currently the quote server is hosted on kodiak-dev → C:\temp\publish\Kodi.Kodiak.Quotes.Api . To start the server, simply run the application as administrator.

The swagger for the server can then be viewed on kodiak-dev here: http://localhost:7080/swagger/index.html

Or on your local machine here:

https://kodiak-dev.kodi.is:7081/swagger/index.html

The server contains the following operations:

GET
"/api/quotes/login/{token}"
Returns an object containing all quotes, quote offers and quote trades for today.

POST
"/api/quotes"
Body: CreateQuoteRequest
To send a new quote request


DELETE
"/api/quotes/{quoteId}"
Body: CancelQuoteRequest
To cancel the quote specified by the quoteId

POST
"/api/quotes/{quoteId}/offer_quote"
Body: CreateQuoteOfferRequest
To send a quote offer to the quote specified by the quoteId

POST
"/api/quotes/{quoteId}/accept_quote"
Body: AcceptQuoteOfferRequest
To accept a quote offer for the quote. Quote offer specified in accept quote type

Client

Flow

The initiator starts the process by creating a quote. The required fields are buy/sell, quantity, Symbol, Price and a list of counterparties.

All counterparties specified in the counterparties list will receive the quote and have around 3 minutes to respond before the quote expires.

The recipient can respond to the quote with a quote offer. The required fields are buy/sell, quantity and price. None of the fields are limited by any of the fields specified in the initial quote.

Finally, the initiator can accept one or more of the quote offers.

The buy/sell side is limited to the buy/sell side of the quote offer. The required fields are quantity and price. The price needs to be equal to or higher than the price of the quote offer if the accepting quote offer has a sell side. The price needs to be equal to or lower than the price of the quote offer if the accepting quote offer has a buy side. The quantity must be equal to or lower than the quote offer in all cases.

When a quote offer is accepted, a manual trade is generated.

Trade ticker

Optionally, quotes can be displayed in the trade ticker for Genium/Inet bonds. Quotes are marked orange in the trade ticker. The trade ticker can only display quote offers and generated quote trades.

By default, quotes are shown in the trade ticker, but the setting can be enabled/disabled for each trade ticker window under Trade Ticker Settings.

It is also possible to enable/disable showing quotes in the trade ticker by default when opening a new trade ticker window under Tools → Settings → Market Data → Show quotes by default. The current workspace needs to be saved and the client restarted for the setting to be modified.