QuoteStatusReport (35=AI) designates a specific message type within the FIX (Financial Information eXchange) protocol, used to communicate the status or outcome of a previously submitted quote or a response to a quote request.
Mechanism
The 35=AI tag within the FIX message header precisely identifies this communication as a Quote Status Report. This message conveys information such as the quote’s acceptance, rejection, expiration, or other changes to its lifecycle, facilitating structured, automated communication between trading participants.
Methodology
Its application is central to ensuring operational clarity and message integrity within electronic trading workflows, particularly in Request For Quote (RFQ) systems. This standardized reporting mechanism supports automated processing of quote lifecycle events, enhancing system interoperability and providing auditable records for institutional crypto derivatives platforms.
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