Retail Price Improvement (RPI) Message Fields
The Retail Price Improvement (RPI) message is a retail liquidity indicator that includes symbol and side, but not price and size. An RPI message will be disseminated when there is a retail price improving order present for a symbol on the Cboe Exchange order book OR to indicate a RPI order is no longer available. RPI orders offer price improvement in increments of $.001 to Retail Member Organizations.
| Field | Offset | Length | Value/Type | Description |
|---|---|---|---|---|
| Length | 0 | 1 | Binary | Length of this message including this field. |
| Message Type | 1 | 1 | 0xA8 | RPI message |
| Timestamp | 2 | 8 | Binary | Timestamp of the matching engine RPI message, encoded as the number of nanoseconds since midnight (effective 11/02/26, since epoch). |
| Symbol | 10 | 8 | Alphanumeric | Symbol right padded with spaces. |
| Reserved | 18 | 1 | Alphanumeric | Reserved |
| Retail Price Improvement | 19 | 1 | Alphanumeric |
|
| Total Length = 20 bytes | ||||