Generate RFQs and complex order books on-demand for any instrument or strategy and source deep liquidity directly from Paradigm’s network
Select the Unified Markets icon from the left hand side bar of your Paradigm application.
You will need to set up the permissions required to read your positions from the venue:
1.1. Deribit: Enable Trade: read-only scope for your API key.
Go to your Admin Dashboard to check that the permissions are set up properly. You should see a green tick beside the API key as shown in the picture
You should now be able to view your venue positions in the Positions Tab.
Positions automatically refresh. The interval for refresh is indicated by the timer on the top right corner in the Positions tab.
You can group and filter your positions.
You can also create an RFQ or Complex Order Book directly from your positions using RFQ and OB buttons.
6.1. Create RFQ or OB straight from the position.
6.2. Or select multiple positions in the same product to create a multi-leg RFQ or OB.
Recap of all trades successfully settled via Unified Markets. This includes both trades from DRFQ & GRFQ.
Recap of all Filled, Canceled, Expired, and Traded Away RFQs that you created or were a counterparty too.
Recap of all open Orders across both RFQ & OB.
Recap of all of your desk’s closed Trades across both DRFQ & GRFQ.
Recap of all of your desk’s closed Orders across both DRFQ & GRFQ.
You can filter which markets appear upon the Markets board by clicking the “Filters” button at the top of the screen.
You can then additively choose different attributes of markets you wish to see before clicking “Show X Markets” to apply the filter.
You can clear all applied filters by clicking “Clear All”
You are able to create multiple views on the Markets board with different Filters applied.
You can rename a tab by right-clicking and clicking “Rename”.
You can close a tab by either clicking the ‘x’ button next to each tab’s name or by clicking the ‘x’ button next to the tab’s name in the search bar.
You are able to see all active markets including complex Order Books as well as RFQs you either created or are a counterparty to.
In the “T” column, you are able to see if the market is an RFQ or Order Book (OB) market.
For RFQ markets you have created, you are able to see the desk names of the counterparties who have responded with orders.
For RFQ markets you are a counterparty to, you are able to see the desk name of the RFQ creator if disclosed, else you will see “Anon” to indicate the RFQ creator did not wish to share this information.
You are able to create an RFQ or OB market via clicking the “Create” button on the Markets board.
You can choose which venue’s instruments you would like to include in the market you’re creating.
You can choose which product type you would like to include in the market you’re creating.
You can choose which Venue API Key, entered in on the Paradigm admin dashboard, you would like to associate with the market you are creating.
You are able to choose if you would like to create an RFQ or an OB market.
For RFQ markets, you can choose which counterparties you would like to send the market too. “LPs” represents all liquidity provider desks on Paradigm.
You can choose which predefined strategy you would like to create by using the quick action buttons.
You can add, remove, and manage which instruments are a part of the market you are creating. You can also had a “Hedge Leg” to the market, specifying a “Leg Price” to hedge the market’s delta.
For RFQ markets, you can choose if you would like to remain anonymous or to disclose your Paradigm desk name to the selected counterparties.
To send Anonymous RFQ, at least 3 LPs (indicated with M) must be selected.
When you send an Anonymous RFQ, received quotes will be anonymous. Only the desk you executed with will be revealed after the trade.
You can send RFQs anonymously. If you don’t want the counterparties to see your desk name, toggle the “Anonymous” option to green at the bottom left of the Market Builder. Minimum of 3 LPs needed to be sent to, to stay anonymous.
Otherwise leave off if you prefer the counterparties to see your Desk name when sending the RFQ. Anonymous is available only to Takers.
All OB participants are anonymous
You can respond to an RFQ market sent to you by either click on the Price fields or the “Quote” button on the Markets board.
You can choose which Venue API Key, entered in on the Paradigm admin dashboard, you would like to associate with the order you are creating.
You can input a Buy and/or Sell price in the “Two-Way” field for single-legged markets.
You can input leg prices for a Buy and/or Sell Price in the “Leg Prices” columns of the “Strategy Details” table.
If you’re responding to anonymous RFQ, you are also anonymous to the Taker.
You are able to submit an Order to an OB market by clicking on the price fields of the market’s row on the Markets board.
You can submit a quantity and a price before clicking “Limit Buy” or “Limit Sell” to submit a LIMIT GTC Order.
You can change the modal’s perspective from Buy to Sell by clicking the double-arrow symbol.
You can click “Sell” or “Buy” for an RFQ market you created on the Markets board.
Right-clicking on the RFQ market and clicking “View Details” will pop up a more detailed & focused modal.
In Anonymous RFQs, the maker desk name will be revealed after you have traded with them.
You are able to cancel all of your desk’s active Orders across RFQ & OB markets by clicking “Kill All”.
You will be You are able to cancel all of your desk’s active Buy Orders across RFQ & OB markets by clicking “Kill Desk Bids”.prompted to submit a spread price or individual leg prices
You are able to cancel all of your desk’s active Sell Orders across RFQ & OB markets by clicking “Kill Desk Asks”.