What Connectivity Standards (APIs/protocols) Are Essential for RFQ Execution Platforms?
Essential standards include the Financial Information eXchange (FIX) protocol for reliable, standardized order and execution management. WebSocket APIs are commonly used for high-throughput, real-time market data streaming.
REST APIs are typically used for less time-critical tasks like account management and initial setup. A robust platform must support multiple standards to connect with various exchanges and institutional counterparties.
Secure TLS/SSL encryption is mandatory for all communications.