QuoteType Tradeable specifies a characteristic of a price quote for a cryptocurrency asset or derivative, indicating that the quoted price is firm and immediately actionable for execution by the receiving party. Its purpose is to clearly differentiate between indicative price levels and those upon which a direct, confirmed trade can be performed, which is particularly relevant in Request for Quote (RFQ) and institutional trading environments.
Mechanism
In a crypto RFQ system, when a liquidity provider returns a quote, an associated flag or data field explicitly designates its “Tradeable” status. Upon receipt, the client’s automated or manual trading system can directly initiate an order at that precise price and quantity, typically within a very short, predefined expiration window. This mechanism ensures execution certainty, distinguishing these firm quotes from purely informational or non-binding price indications.
Methodology
The methodology centers on facilitating efficient and reliable trade execution for institutional crypto investors. By clearly demarcating tradeable quotes, it significantly reduces operational risk and improves execution certainty, which is critical for large-volume or options trading. This clarity enables automated smart trading strategies to act decisively on firm prices, helping to minimize slippage and achieve optimal pricing in volatile markets where rapid, guaranteed execution is paramount.
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