In general QUOTIM_MS in the Level 1 field list should be the time the quote became the Best BID or ASK, not any other time, it should be the time it became the top BID/ASK (BBO). So it is likely to be either the time it left the exchange, a Refinitiv time if we dont get the actual BBO time that from the exchange, or if they specifically time stamp when it became BBO then that time. It shouldnt be the time they recived the quote as that is likely to differ to the time it became the BBO.

Here is our field list spec. If you need to confirm 100% then please use the Contact Us button and our support agents can speak directly to the development team to confirm.

https://refinitiv.fixspec.com/specserver/specs/elektron/amers/united-states-nasdaq-basic/2-0-1/2229-nasdaq-basic-rics-ertequities

Hi @jkr123

According to the Data Model Discovery tool - QUOTIM_MS is described simply as 'Time of quote in milliseconds' - does not explicitly state which of your two possibilities.

As this forum is primarily for API development related queries and your question is content-related, please create a Content-type ticket with the Content helpdesk (select 'I need help understanding content within the product' and Elektron Realtime for Product) - so that a content expert for Nasdaq can better assist you.