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.
Glossar
APIs
Interface ⎊ Application Programming Interfaces (APIs) within cryptocurrency, options trading, and financial derivatives represent standardized digital conduits facilitating programmatic interaction between disparate systems.
Financial Information Exchange
Definition ⎊ Financial Information Exchange is a standardized, vendor-neutral protocol designed for the electronic communication of securities transactions information between market participants, increasingly adapted for crypto derivatives.
Connectivity
Interdependence ⎊ Connectivity within cryptocurrency, options trading, and financial derivatives signifies the increasing reliance of market participants and instruments on shared infrastructure and systemic linkages.
Rfq Execution
Definition ⎊ Rfq Execution is the process where a requested price quote for a derivative is formally accepted by the requesting party, triggering the generation of a binding trade ticket that is then routed for final settlement.
Standards
Framework ⎊ Standards within cryptocurrency, options trading, and financial derivatives represent a codified set of protocols and rules governing market participants, ensuring operational integrity and mitigating systemic risk.