The 411 On IOIs
MR. FIX-ITT
Indications of Interest (IOIs) are used by brokers to broadcast their inventory to institutional investors. For FIX, it is the most transmitted message. And IOIs provide a great bang for the buck: they're the easiest message to implement, and they are valuable.
IOIs don't have the transactional headaches of messages like orders. They act just like a data-feed broadcast. If you miss one, it is not the end of the world because there is no money commitment involved. However there are some things to
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