# Why Your Public Orders Are Costing You Money and What to Do about It ▴ Guide

**Published:** 2025-08-16
**Categories:** Guide

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![A translucent blue algorithmic execution module intersects beige cylindrical conduits, exposing precision market microstructure components. This institutional-grade system for digital asset derivatives enables high-fidelity execution of block trades and private quotation via an advanced RFQ protocol, ensuring optimal capital efficiency](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-core-execution-architecture-intelligence-layer.jpg)

![Reflective and circuit-patterned metallic discs symbolize the Prime RFQ powering institutional digital asset derivatives. This depicts deep market microstructure enabling high-fidelity execution through RFQ protocols, precise price discovery, and robust algorithmic trading within aggregated liquidity pools](https://options.greeks.live/wp-content/uploads/2025/08/prime-os-architecture-driving-institutional-digital-asset-derivatives-rfq-protocols-for-optimal-liquidity-and-best-execution.jpg)

## The Physics of Hidden Trading Costs

Every [public order](https://prime.greeks.live/question/can-the-smart-trading-tool-execute-an-order-that-is-hidden-from-the-public-order-book/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) you place sends a signal, broadcasting your intention to the entire market. This broadcast creates an unavoidable friction, a phenomenon known as price impact. The very act of executing a large trade on a [public order book](https://prime.greeks.live/area/public-order-book/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) guarantees a less-than-optimal price, as the market reacts to your demand before your order is fully filled. This information leakage is a fundamental cost center for any serious portfolio, representing the value surrendered by signaling your strategy.

The study of [market microstructure](https://prime.greeks.live/area/market-microstructure/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) reveals that the structure of the market itself, not just supply and demand, dictates execution quality. Public order books operate on a continuous double auction mechanism, prioritizing price and time. This system is transparent, yet its transparency is the source of its primary inefficiency for large or complex trades. Professional traders require a mechanism that facilitates price discovery without this costly public declaration.

The Request for Quote ([RFQ](https://prime.greeks.live/area/rfq/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite)) system is that mechanism. It transforms the execution process from a public broadcast into a private negotiation. An RFQ allows a trader to request quotes for a specific trade, including complex multi-leg options structures, directly from a pool of professional [liquidity providers](https://prime.greeks.live/area/liquidity-providers/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite). These providers compete to offer the best price, which the trader can then execute against.

This entire process occurs off the public [order book](https://prime.greeks.live/area/order-book/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite), preserving the integrity of the market price and preventing the information leakage that erodes returns. It is a structural shift from passively accepting the market’s price to actively commanding a competitive price on your own terms. Understanding this distinction is the first step toward engineering a professional-grade execution framework.

![A sophisticated proprietary system module featuring precision-engineered components, symbolizing an institutional-grade Prime RFQ for digital asset derivatives. Its intricate design represents market microstructure analysis, RFQ protocol integration, and high-fidelity execution capabilities, optimizing liquidity aggregation and price discovery for block trades within a multi-leg spread environment](https://options.greeks.live/wp-content/uploads/2025/07/institutional-grade-proprietary-architecture-driving-high-fidelity-digital-asset-derivatives-execution-via-rfq-protocols-and-optimized-market-microstructure-dynamics.jpg)

![An institutional grade system component, featuring a reflective intelligence layer lens, symbolizes high-fidelity execution and market microstructure insight. This enables price discovery for digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/08/institutional-digital-asset-derivatives-precision-rfq-execution-system-interface.jpg)

## A Framework for Precision Execution

Integrating a professional execution process requires a systematic approach. It begins with identifying the specific scenarios where public orders create the most significant financial drag and applying the correct private liquidity solution. The objective is to minimize [slippage](https://prime.greeks.live/area/slippage/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) and [market impact](https://prime.greeks.live/question/how-does-the-system-differentiate-between-market-impact-caused-by-the-rfq-and-unrelated-market-volatility/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite), turning a hidden cost into a quantifiable source of alpha. This demands a clear understanding of how to deploy RFQ systems for different types of trades, from large single-instrument blocks to complex derivatives strategies.

![A transparent glass bar, representing high-fidelity execution and precise RFQ protocols, extends over a white sphere symbolizing a deep liquidity pool for institutional digital asset derivatives. A small glass bead signifies atomic settlement within the granular market microstructure, supported by robust Prime RFQ infrastructure ensuring optimal price discovery and minimal slippage](https://options.greeks.live/wp-content/uploads/2025/07/institutional-grade-digital-asset-derivatives-rfq-execution-prime-os-intelligence-layer-facilitating-optimal-price-discovery-and-best-execution.jpg)

## Executing Large Blocks with Anonymity

Placing a large block order for Bitcoin or Ethereum options on a public exchange is a direct invitation for front-running and adverse price movement. The moment the order appears, algorithmic systems and observant traders will trade against it, pushing the price away from your desired entry or exit point. This effect, known as [price impact](https://prime.greeks.live/area/price-impact/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite), can account for a significant portion of a trade’s total cost. Using an RFQ for block trades circumvents this entire dynamic.

The trade is arranged privately between the taker and the [market makers](https://prime.greeks.live/question/how-do-market-makers-quantify-adverse-selection-risk-in-opaque-trading-venues/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite), ensuring the execution occurs without hitting the public order books. This anonymity is a strategic advantage, preserving the prevailing market price and allowing the full size of the order to be executed closer to the intended price.

> Privately negotiated block trades executed via RFQ can significantly reduce the price impact that often erodes the value of large orders on public markets.

![An institutional-grade RFQ Protocol engine, with dual probes, symbolizes precise price discovery and high-fidelity execution. This robust system optimizes market microstructure for digital asset derivatives, ensuring minimal latency and best execution](https://options.greeks.live/wp-content/uploads/2025/08/institutional-digital-asset-derivatives-rfq-protocol-engine-for-optimal-price-discovery-and-high-fidelity-execution.jpg)

## Pricing Complex Multi-Leg Spreads

Multi-leg options strategies, such as collars, straddles, or butterflies, involve the simultaneous execution of two or more different options contracts. Attempting to execute these strategies leg-by-leg on a [public market](https://prime.greeks.live/guide/why-your-best-price-is-found-in-a-private-conversation-not-a-public-market/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) introduces immense execution risk. Price fluctuations between the execution of each leg can turn a theoretically profitable setup into a loss. An RFQ system solves this by treating the entire multi-leg structure as a single, indivisible trade.

You can request a single quote for the entire package, and market makers provide a net price for the combined strategy. This guarantees that all legs are filled simultaneously at the agreed-upon price, eliminating the risk of a partial fill or adverse price movement between legs. It is the only reliable method for achieving [best execution](https://prime.greeks.live/area/best-execution/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) on complex derivatives structures.

![Brushed metallic and colored modular components represent an institutional-grade Prime RFQ facilitating RFQ protocols for digital asset derivatives. The precise engineering signifies high-fidelity execution, atomic settlement, and capital efficiency within a sophisticated market microstructure for multi-leg spread trading](https://options.greeks.live/wp-content/uploads/2025/08/institutional-grade-digital-asset-derivatives-rfq-protocol-high-fidelity-execution-system.jpg)

## Comparative Execution Analysis Public Market Vs RFQ

To illustrate the financial drag of public execution, consider a hypothetical large options trade. The data below models the potential costs associated with market impact and slippage for a significant block trade executed through a public market order versus a privately negotiated RFQ.

- **Public Market Execution:** The order is placed on the central limit order book. The initial portion fills at the current best price, but as the order consumes liquidity, it “walks up the book,” filling subsequent portions at progressively worse prices. This results in a higher average cost and significant slippage.

- **RFQ Execution:** The trader requests a quote for the full size from multiple liquidity providers. The providers compete, offering a single price for the entire block. The execution occurs off-book, creating zero market impact and resulting in a single, predictable fill price.

The distinction in outcomes is stark. While the public order suffers from the friction of its own visibility, the RFQ leverages private competition to achieve a superior result. This is a clear demonstration of how professional-grade tools directly translate into improved portfolio performance by systematically eliminating the hidden costs of trading.

![A sleek blue and white mechanism with a focused lens symbolizes Pre-Trade Analytics for Digital Asset Derivatives. A glowing turquoise sphere represents a Block Trade within a Liquidity Pool, demonstrating High-Fidelity Execution via RFQ protocol for Price Discovery in Dark Pool Market Microstructure](https://options.greeks.live/wp-content/uploads/2025/07/advanced-institutional-digital-asset-derivatives-rfq-execution-system-for-optimal-price-discovery-and-high-fidelity-execution.jpg)

## Securing Best Execution for Volatility Trades

Trading volatility through structures like straddles or strangles requires precise pricing. These strategies are highly sensitive to the implied volatility of the underlying options, and their profitability depends on getting a clean entry. An RFQ is the superior mechanism for this purpose. It allows traders to solicit competitive quotes from market makers who specialize in volatility, ensuring the price reflects the true market for that risk.

This process is particularly valuable in fast-moving or less liquid markets, where public bid-ask spreads may widen dramatically. By creating a competitive auction for your trade, you engineer a situation where the best possible price is achieved, a foundational component of any successful volatility trading strategy.

![A dynamic composition depicts an institutional-grade RFQ pipeline connecting a vast liquidity pool to a split circular element representing price discovery and implied volatility. This visual metaphor highlights the precision of an execution management system for digital asset derivatives via private quotation](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-pipeline-for-precise-price-discovery-and-volatility-surface-analysis.jpg)

![Precision metallic mechanism with a central translucent sphere, embodying institutional RFQ protocols for digital asset derivatives. This core represents high-fidelity execution within a Prime RFQ, optimizing price discovery and liquidity aggregation for block trades, ensuring capital efficiency and atomic settlement](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-prime-os-execution-hub.jpg)

## The System of Compounding Advantage

Mastering precision execution is a compounding skill. Each basis point saved on a trade is capital that remains in the portfolio, ready to be deployed in the next opportunity. Over time, this operational efficiency becomes a significant source of alpha.

Integrating this capability into a broader portfolio strategy involves viewing execution not as a final step, but as a primary input into the profitability of every position. It requires a shift in mindset from being a participant in the market to being a director of your own liquidity.

![A sophisticated institutional digital asset derivatives platform unveils its core market microstructure. Intricate circuitry powers a central blue spherical RFQ protocol engine on a polished circular surface](https://options.greeks.live/wp-content/uploads/2025/08/institutional-digital-asset-derivatives-prime-os-unveiling-rfq-protocol-engine-market-microstructure-for-optimal-price-discovery-and-high-fidelity-execution.jpg)

## Integrating RFQ into Automated Strategies

For systematic and algorithmic traders, RFQ systems offer a powerful tool for managing large-scale portfolio adjustments. Automated strategies that need to execute significant size, whether for rebalancing, hedging, or entering a new core position, can be programmed to utilize RFQ APIs. This allows the algorithm to source deep liquidity without causing the very market impact it seeks to avoid.

An automated system can periodically query market makers for quotes on a large block, executing only when a favorable price is offered. This method of patient, private execution is a hallmark of sophisticated quantitative strategies, blending the power of automation with the liquidity of private markets.

![A precision optical system with a teal-hued lens and integrated control module symbolizes institutional-grade digital asset derivatives infrastructure. It facilitates RFQ protocols for high-fidelity execution, price discovery within market microstructure, algorithmic liquidity provision, and portfolio margin optimization via Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/08/principal-grade-digital-asset-derivatives-rfq-optics-for-high-fidelity-execution-and-optimized-liquidity.jpg)

## The Psychology of Disciplined Execution

There is a distinct psychological advantage to executing with certainty. The stress and uncertainty of watching a large public order fill ▴ or fail to fill ▴ can lead to poor decision-making. Legging into a complex spread can create anxiety and pressure to accept a suboptimal price on the remaining legs. RFQ systems remove this emotional variable.

The process is clean, private, and definitive. You request a price, you receive competitive offers, and you execute at a known level. This discipline instills confidence and allows the trader to focus on strategy and risk management, knowing the execution process itself is optimized. It transforms trading from a reactive endeavor into a proactive, engineered process.

A market that perfects private negotiation must also consider the health of its public price discovery mechanisms. The two are not separate systems; they are a coupled oscillator, and the energy you remove from one inevitably affects the resonance of the other. Calibrating this balance is the next frontier.

The efficiency gained through private liquidity sourcing is undeniable, yet the integrity of the public order book remains a vital signal for all market participants. Advanced strategies of the future will likely involve a dynamic interplay between these two realms, using RFQ for size and the public book for high-frequency price confirmation, creating a holistic approach to market interaction that leverages the strengths of both.

![Intersecting concrete structures symbolize the robust Market Microstructure underpinning Institutional Grade Digital Asset Derivatives. Dynamic spheres represent Liquidity Pools and Implied Volatility](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-framework-optimizing-rfq-execution-and-liquidity-for-principal-trading.jpg)

## The True Cost of Market Access

The ultimate expense in trading is not a commission or a fee. It is the silent, cumulative tax paid for broadcasting your intentions to the world. Every public order is a concession, an acceptance of terms set by the visible liquidity landscape. True market mastery begins when you cease to be a mere participant in this public spectacle and instead engage the market’s deep liquidity on your own terms.

The tools and processes exist to transform execution from a source of cost-drag into a source of competitive advantage. The only remaining variable is the decision to use them.

![A central rod, symbolizing an RFQ inquiry, links distinct liquidity pools and market makers. A transparent disc, an execution venue, facilitates price discovery](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-rfq-protocol-execution-optimization.jpg)

## Glossary

<a href="https://prime.greeks.live/area/public-order-book/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Precision metallic pointers converge on a central blue mechanism. This symbolizes Market Microstructure of Institutional Grade Digital Asset Derivatives, depicting High-Fidelity Execution and Price Discovery via RFQ protocols, ensuring Capital Efficiency and Atomic Settlement for Multi-Leg Spreads](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocols-for-precision-execution.jpg)

## Public Order Book

Meaning ▴ The Public Order Book constitutes a real-time, aggregated data structure displaying all active limit orders for a specific digital asset derivative instrument on an exchange, categorized precisely by price level and corresponding quantity for both bid and ask sides. </a><a href="https://prime.greeks.live/question/can-the-smart-trading-tool-execute-an-order-that-is-hidden-from-the-public-order-book/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A sophisticated control panel, featuring concentric blue and white segments with two teal oval buttons. This embodies an institutional RFQ Protocol interface, facilitating High-Fidelity Execution for Private Quotation and Aggregated Inquiry](https://options.greeks.live/wp-content/uploads/2025/07/institutional-grade-rfq-protocol-interface-for-digital-asset-derivatives-execution.jpg)

## Public Order

A Smart Trading tool executes hidden orders by leveraging specialized protocols and routing logic to engage with non-displayed liquidity, minimizing market impact. </a><a href="https://prime.greeks.live/area/market-microstructure/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A sleek, institutional-grade device featuring a reflective blue dome, representing a Crypto Derivatives OS Intelligence Layer for RFQ and Price Discovery. Its metallic arm, symbolizing Pre-Trade Analytics and Latency monitoring, ensures High-Fidelity Execution for Multi-Leg Spreads](https://options.greeks.live/wp-content/uploads/2025/08/institutional-digital-asset-derivatives-rfq-execution-intelligence-layer.jpg)

## Market Microstructure

Meaning ▴ Market Microstructure refers to the study of the processes and rules by which securities are traded, focusing on the specific mechanisms of price discovery, order flow dynamics, and transaction costs within a trading venue. </a><a href="https://prime.greeks.live/area/liquidity-providers/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A central translucent disk, representing a Liquidity Pool or RFQ Hub, is intersected by a precision Execution Engine bar. Its core, an Intelligence Layer, signifies dynamic Price Discovery and Algorithmic Trading logic for Digital Asset Derivatives](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-engine-visualizing-microstructure.jpg)

## Liquidity Providers

Meaning ▴ Liquidity Providers are market participants, typically institutional entities or sophisticated trading firms, that facilitate efficient market operations by continuously quoting bid and offer prices for financial instruments. </a><a href="https://prime.greeks.live/area/rfq/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A multi-faceted algorithmic execution engine, reflective with teal components, navigates a cratered market microstructure. It embodies a Principal's operational framework for high-fidelity execution of digital asset derivatives, optimizing capital efficiency, best execution via RFQ protocols in a Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/07/advanced-rfq-protocol-engine-for-institutional-digital-asset-derivatives.jpg)

## Rfq

Meaning ▴ Request for Quote (RFQ) is a structured communication protocol enabling a market participant to solicit executable price quotations for a specific instrument and quantity from a selected group of liquidity providers. </a><a href="https://prime.greeks.live/area/order-book/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Three sensor-like components flank a central, illuminated teal lens, reflecting an advanced RFQ protocol system. This represents an institutional digital asset derivatives platform's intelligence layer for precise price discovery, high-fidelity execution, and managing multi-leg spread strategies, optimizing market microstructure](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-for-optimal-execution.jpg)

## Order Book

Meaning ▴ An Order Book is a real-time electronic ledger detailing all outstanding buy and sell orders for a specific financial instrument, organized by price level and sorted by time priority within each level. </a><a href="https://prime.greeks.live/question/how-does-the-system-differentiate-between-market-impact-caused-by-the-rfq-and-unrelated-market-volatility/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Symmetrical beige and translucent teal electronic components, resembling data units, converge centrally. This Institutional Grade RFQ execution engine enables Price Discovery and High-Fidelity Execution for Digital Asset Derivatives, optimizing Market Microstructure and Latency via Prime RFQ for Block Trades](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-execution-microstructure-engine.jpg)

## Market Impact

A system isolates RFQ impact by modeling a counterfactual price and attributing any residual deviation to the RFQ event. </a><a href="https://prime.greeks.live/area/slippage/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A futuristic, intricate central mechanism with luminous blue accents represents a Prime RFQ for Digital Asset Derivatives Price Discovery. Four sleek, curved panels extending outwards signify diverse Liquidity Pools and RFQ channels for Block Trade High-Fidelity Execution, minimizing Slippage and Latency in Market Microstructure operations](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-execution-platform-2.jpg)

## Slippage

Meaning ▴ Slippage denotes the variance between an order's expected execution price and its actual execution price. </a><a href="https://prime.greeks.live/area/price-impact/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A glowing central lens, embodying a high-fidelity price discovery engine, is framed by concentric rings signifying multi-layered liquidity pools and robust risk management. This institutional-grade system represents a Prime RFQ core for digital asset derivatives, optimizing RFQ execution and capital efficiency](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-prime-os-core-for-high-fidelity-rfq-execution-and-latent-liquidity-aggregation.jpg)

## Price Impact

Meaning ▴ Price Impact refers to the measurable change in an asset's market price directly attributable to the execution of a trade order, particularly when the order size is significant relative to available market liquidity. </a><a href="https://prime.greeks.live/question/how-do-market-makers-quantify-adverse-selection-risk-in-opaque-trading-venues/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Abstract architectural representation of a Prime RFQ for institutional digital asset derivatives, illustrating RFQ aggregation and high-fidelity execution. Intersecting beams signify multi-leg spread pathways and liquidity pools, while spheres represent atomic settlement points and implied volatility](https://options.greeks.live/wp-content/uploads/2025/07/architecting-institutional-digital-asset-derivatives-trading-systems-for-optimized-rfq-execution-and-advanced-price-discovery.jpg)

## Market Makers

Market makers quantify adverse selection by using post-trade markout analysis to measure losses and deploying predictive models to score risk. </a><a href="https://prime.greeks.live/guide/why-your-best-price-is-found-in-a-private-conversation-not-a-public-market/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Abstract geometric forms illustrate an Execution Management System EMS. Two distinct liquidity pools, representing Bitcoin Options and Ethereum Futures, facilitate RFQ protocols](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocols-high-fidelity-execution-6.jpg)

## Public Market

Access institutional-grade liquidity and pricing through private negotiation, executing large-scale trades on your terms. </a><a href="https://prime.greeks.live/area/best-execution/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A sophisticated digital asset derivatives trading mechanism features a central processing hub with luminous blue accents, symbolizing an intelligence layer driving high fidelity execution. Transparent circular elements represent dynamic liquidity pools and a complex volatility surface, revealing market microstructure and atomic settlement via an advanced RFQ protocol](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocols-high-fidelity-execution-framework-optimizing-market-microstructure-price-discovery-intelligence-layer.jpg)

## Best Execution

Meaning ▴ Best Execution is the obligation to obtain the most favorable terms reasonably available for a client's order. </a>

**Tags:** [Best Execution](https://options.greeks.live/area/best-execution/), [Slippage](https://options.greeks.live/area/slippage/), [Multi-Leg Execution](https://options.greeks.live/area/multi-leg-execution/), [Price Impact](https://options.greeks.live/area/price-impact/), [Block Trading](https://options.greeks.live/area/block-trading/), [Order Book](https://options.greeks.live/area/order-book/)	

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### [Why Your Best Hedging Ideas Require Institutional Execution](https://options.greeks.live/guide/why-your-best-hedging-ideas-require-institutional-execution/)
![A central precision-engineered RFQ engine orchestrates high-fidelity execution across interconnected market microstructure. This Prime RFQ node facilitates multi-leg spread pricing and liquidity aggregation for institutional digital asset derivatives, minimizing slippage.](https://options.greeks.live/wp-content/uploads/2025/08/high-fidelity-rfq-execution-for-institutional-crypto-derivatives.jpg)

Superior hedging is not a better idea, but a superior execution system. Command your liquidity.

- 
### [Secure Better than On-Screen Prices with This Method](https://options.greeks.live/guide/secure-better-than-on-screen-prices-with-this-method/)
![A smooth, off-white sphere rests within a meticulously engineered digital asset derivatives RFQ platform, featuring distinct teal and dark blue metallic components. This sophisticated market microstructure enables private quotation, high-fidelity execution, and optimized price discovery for institutional block trades, ensuring capital efficiency and best execution.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-system-microstructure-core.jpg)

Command institutional-grade liquidity and execute large-scale trades at prices the public order book will never show you.

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---

**Original URL:** https://options.greeks.live/guide/why-your-public-orders-are-costing-you-money-and-what-to-do-about-it/
