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Request for Quote (RFQ)
for Crypto Trading

Designed for securing tailored, real-time quotes, our RFQ trading mode offers a competitive edge through precision, efficiency and the best market price discovery.

Features of RFQ Trading

  • pic Customize your orders to fit your individual trading strategy.
  • pic Minimize market impact for large trades.
  • pic Make more informed decisions with prices from multiple liquidity providers.
  • pic Get pricing for asset pairs with no continuous markets.
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How it works

Unlock efficient trading efficiency for large volumes and low-liquidity assets 

Step 1

Onboard with LPs

Ensure you are onboarded with liquidity providers who supply quotes in RFQ mode.

Step 2

Request a quote

Request price quotes for a specific trade volume of an asset pair from multiple liquidity providers via GUI or API.

Step 3

Receive a response

Get instant responses from numerous liquidity providers.

Step 4

Confirm the trade

Choose the most favorable price or preferred liquidity provider and confirm the trade within 5 seconds.

Step 5

ECN adjusts Positions & Exposure

Your trade is factored in to modify risk exposure and positions on Finery Markets ECN

Step 6

Proceed with Settlement

Initiate the settlement process directly with the chosen liquidity provider.

Process overview
Navigate the RFQ process with ease for seamless trade execution
pic pic Trade Trade

Takers

Banks & brokers, OTC desks, Payment providers

  • Client 1pic
  • Client 2pic
  • Client 3pic
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Connects via API / GUI
100% fill ratio

1

quote
streams

2

place
an order

3

Confirm
the trade

picFinery markets

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liquidity providers

  • LP 1
  • LP 2
  • LP 3
pic pic Settlement
ClientCustomer — liquidity taker
LP — liquidity provider
Leading the crypto ECN space with a unique blend of RFQ and order-based institutional liquidity
Join the waitlist

FAQs

We’re in the final stages of testing and anticipate launching in Q3 2024. A special announcement will be made, but to ensure you don’t miss it, complete the form below to join our waitlist and be among the first to try it live.
These two modes are complementary and serve different functions.
  • Firm Book Mode: Offers continuous pricing from various liquidity providers in your order book. Liquidity is aggregated, and "no last look" execution ensures no rejections, even in fast-paced markets.
  • RFQ Mode: Lets you request a quote for a specific volume of an asset pair and receive responses from multiple liquidity providers competing for your order. Once the trade is confirmed, it is sent to the liquidity provider's execution system for final confirmation.
You can send RFQ requests via API or the graphical user interface (GUI).
We’re launching with Wintermute and DV Chain, with more LPs expected to join by year-end.
Simply select the asset pair and the volume you wish to trade.
Contact our customer success team to activate the RFQ mode for your account. Once enabled, you’ll gain access to the applicable API methods and the “RFQ” section in the GUI.
Liquidity providers respond as soon as they compute the pricing for the required size, typically at sub-second speed.
Your request is sent to liquidity providers, who calculate the pricing for the required size of the asset pair. Once quotes are generated, you have 5 seconds to confirm the trade and receive final approval. Settlement is completed directly with the liquidity provider.
Yes, you can bypass the confirmation stage. In this case, you’ll receive quotes without processing the order.
You can either select the best price offered by liquidity providers or trade with your preferred provider.
No, RFQ volume is included in your total aggregated volume under your current tariff plan, helping you achieve lower tariff rates faster.

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