Lately we received an RFQ on this instrument GILD.OQ(GILD UW). When we query the TREP service for a last trading price, the response we get is 0. At the time of the request, the US market(where the stock is listed) was closed.
We find this behavior odd actually. Ideally, when we ask for a LTP, we should get the previous close if the market is not open. Furthermore, this seems to be the behavior indeed for other stocks such as PFE.N(PFE UN).
Can you please advise ?
For exchange traded instruments the data collections mechanism implemented on Refinitiv Elektron datafeed employs closing runs executed after the close of the trading session in preparation for the next trading session. During the closing run the value of TRDPRC_1 field is set to +0, the value of HST_CLOSE field is updated with the close price from the most recent session etc. The logic of setting TRDPRC_1 field to +0 is to signify there have been no trades (hence no trade price has been recorded) in the new trading session.
Since you posted your question on the forum dedicated to Eikon Data APIs, I assume you use Eikon. In this case instead of TRDPRC_1 you can use CF_LAST field, which is populated with the last trade price (from field TRDPRC_1) and contains logic to fallback on HST_CLOSE (and other fields depending on the instrument) if the value of TRDPRC_1 is +0.
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