From multiple counterparties to multiple counterparties. Execute the amount you are looking for. All anonymous.
Select the GRFQ icon in the left hand side bar
of your Paradigm application.
Recap of all derivatives trades on Global RFQ,
even if you did not participate
in the transaction.
The top table will be all active Global RFQs. You can quote or execute any of the active GRFQs
or create a new one.
All Global RFQs are anonymous. No desk information is sent to the counterparties.
Click the "GRFQ" button above the GRFQ table.
Build your structure as you do in the Direct RFQ Popup
When you create a Global RFQ it will be visible to everybody. Meaning everybody can quote your GRFQ and also execute.
Once you decide to respond with a price click on the black price box to open the quote window.
You will be prompted to submit a spread price
or individual leg prices.
Your quote will be valid for the length of time you set in the quote window
If your quote expires you can continue to resend prices until the quote gets executed or GRFQ expires.
You can also cancel one or both sides of your quote, by clicking x next to the side(s) you want
If you want to update your quote, please cancel existing quote and then use the modal to submit new quote.
These buttons will appear in the top right corner above your GRFQ board, if you or a member on your desk have one or more outstanding quotes.
By selecting these appropriate buttons you can cancel all your desk’s outstanding bids, offers, or everything. This will cancel those prices, even if you did not originally send the quote.
As each Maker responds with a price, you as a Taker, will see the quotes aggregated and listed in order of best pricing
To execute taker has to click
on the black price box
After clicking on the black price box a Quote window will appear with RFQ Details
Taker will have to enter Quantity and Price on the corresponding side to cross the opposite
Due to different minimum block sizes enforced by venues please pay attention to the quantity. Find about minimum block sizes for each venue here.
Once the “Submit Quote“ button is clicked, those instructions are sent to the exchange to be executed and cleared automatically
The execution will hit the public Trade Tape Table below and will show a notification on the top right side
All details will be shown only in the two counterparties Trade Blotter who entered into the agreement