Connamara Launches RFQ Functionality for EP3 Platform. For more info:
At Connamara, one of our values is to continuously communicate with our clients. This often
entails direct communication regarding an ongoing project, but it can also mean listening to
ideas about projects and features that don’t currently exist. After hearing demand from
numerous customers, today we’re pleased to announce that we are adding Request For Quote
(RFQ) functionality to our EP3 platform.
RFQ is used to solicit bids and offers in tradable instruments that are either complex in terms or
are illiquid — SEF listed and OTC swaps (energy, rates, FX, credit, equities, crypto) are the
most common examples. RFQ is also used to solicit bids and offers for complex option
strategies.
In comparison to trading on a central limit order book (CLOB), which is usually anonymous, the
parties trading via RFQ are typically aware of whom they are trading with and direct the
requests to known parties. While RFQ trading can be used on standardized highly liquid
instruments, the transparency makes it well suited for highly customizable, illiquid instruments.
This trading method is particularly useful for large dealer banks and corporate hedgers.
The RFQ functionality available in EP3 is a separate service that leverages the EP3 core
components and infrastructure for market data dissemination and downstream transaction
management, including regulatory, clearing, and transaction reporting. Because RFQ leverages
the EP3 core components and infrastructure, customers can expect the same performance,
reliability, and scalability that they are used to with the EP3 platform.
We expect RFQ to be live before the end of the quarter. If you have any questions about it in the
meantime, please feel free to reach out to Dan Curry at dcurryatconnamara.com .
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