I am looking at an issue we had with the symbol ADCB.AD on 2022/10/24.
The symbol was suspended for the whole day, but INST_PHASE was showing regular state changes (Opening auction, Continuous trading, Closing auction, etc).
Here is sequence of messages (in readable format) we received (trimmed to relevant fields)
ric ADCB.AD ,time 20221024_050000 ,PRC_QL_CD 0 ,PRC_QL2 0 ,;
ric ADCB.AD ,time 20221024_051016 ,PERIOD_CD2 Enquiry ,INST_PHASE 12 ,PRC_QL_CD 0 ,PRC_QL2 0 ,trdstat 1 ,;
ric ADCB.AD ,time 20221024_053015 ,PRC_QL2 54 ,trdstat 3 ,;
ric ADCB.AD ,time 20221024_061500 ,PERIOD_CD2 Enquiry ,INST_PHASE 12 ,PRC_QL_CD 0 ,;
ric ADCB.AD ,time 20221024_063000 ,PERIOD_CD2 Pre-Open ,INST_PHASE 12 ,PRC_QL_CD 208 ,;
ric ADCB.AD ,time 20221024_070017 ,PERIOD_CD2 Trading ,INST_PHASE 3 ,PRC_QL_CD 0 ,;
ric ADCB.AD ,time 20221024_114522 ,PERIOD_CD2 Closing_Auction ,INST_PHASE 6 ,PRC_QL_CD 214 ,;
ric ADCB.AD ,time 20221024_115524 ,PERIOD_CD2 Post_Close ,INST_PHASE 11 ,PRC_QL_CD 129 ,;
ric ADCB.AD ,time 20221024_120019 ,PERIOD_CD2 Adjust ,INST_PHASE 1 ,PRC_QL_CD 94 ,;
ric ADCB.AD ,time 20221024_124505 ,PERIOD_CD2 End_Of_Day ,;
If I understand correctly, the upstream exchange market data has 2 levels of trade status
Group/Market Level and the other is Instrument Level.
When a symbol is suspended at Instrument level, it should not follow the group level trade status changes until the suspension is lifted.
The problem we had was that, we were following INST_PHASE changes and it appears that this field is following the group/market level exchange trade status.
Initially, suspension was indicated through PRC_QL2=54. The field was not reset after that, but INST_PHASE kept moving with group/market level state changes.
Can you please let me know if we can assume PRC_QL2=54 is overriding the INST_PHASE changes in case of suspension?
As the client wants to understand what is the correct method to identify suspension and its validity as they keep getting more updates.
At a high level, they want to understand the logic they should follow to
Identify when a ric is suspended (I presume it is PRC_QL2=54)
Identify when suspension is removed from the ric
