Extended Quote Exposure refers to the practice of displaying or broadcasting Request for Quote (RFQ) or order book data to a broader array of potential counterparties or liquidity pools than traditionally observed. This aims to increase competition and liquidity for institutional cryptocurrency trades.
Mechanism
In institutional crypto trading, an RFQ system might disseminate a trading interest to a larger network of market makers or venues simultaneously. This requires specialized communication protocols and aggregation layers to manage responses and ensure timely, efficient execution across multiple endpoints.
Methodology
A strategic approach to market access and liquidity sourcing, primarily for large-block or institutional trades in digital assets. The objective is to optimize execution quality by sourcing the best available price and size through broadened competitive engagement, thereby reducing market impact and slippage.
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