I have a question about the time we get back on Quote messages in WebSockets API. The only non-deprecated times field appears to be QUOTIM_NS. The Data Model Discovery app describes this fields as "Time of best bid/ask quote update - self describing timestamp supporting up to nanosecond granularity." I understand this to mean that it is the time that the current best bid/ask _became_ the best bid/ask, not the time that the current best bid/ask was posted. Is this correct?
And to verify my understanding, the "best" bid is the highest bid and the "best" ask is the lowest ask?
I would suggest the business rules around how fields are populated within the data should be raised within the Refinitiv Helpdesk. They will be able to bring a business analyst in for assistance.
The rules around how FIDs are updated may be dependent on the exchange. For example, in your above example, at 12:02, the bid value changing will likely be a result of an order execution against the book. In such as situation, the QUOTIM_NS may not change but rather the SALTIM_NS indicating the latest activity against the top of the book as a result of the order execution, not a quote. I believe the QUOTIM_NS value may only be affected by quotes, which could be a result of an "order cancel" message within the exchange. In this situation, I believe the order that becomes "top of book" will be published, i.e. in your example BID $10 but at the time that order was sent out, i.e. 12:00. As I recommended, it's best to involve a business analyst to confirm these business rules.