How Do RFQ Platforms Attempt to Standardize and Reduce Latency among Liquidity Providers?

RFQ platforms often provide standardized, high-speed APIs (Application Programming Interfaces) and co-location services to all liquidity providers (LPs) to ensure a level playing field. They also monitor LPs' response times and penalize or remove those with excessive latency, thereby forcing standardization and ensuring clients receive fast, competitive quotes.