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RFQ - Request for Quote

The Montréal Exchange Enhanced its RFQ Functionality

The Montréal Exchange (MX) enhanced its Request for Quote functionality (RFQ). This upgrade offers participants an additional liquidity seeking tool, which is beneficial especially in the trading of the MX's developing contracts. This enhancement is a natural progression towards achieving MX's ultimate goal of creating more efficient, transparent and accessible Canadian listed derivatives market.

The improved functionality allows the RFQ submitter to request a bid, an offer or a two-sided market on any MX listed instrument. Market participants who elect to respond to the RFQ will do so by placing an order in the central limit order book.

The enhanced RFQ was launched on March 28, 2016.

Example

The RFQ functionality is available on ALL MX listed futures, options, and options on futures. Requests for bids, offers, or a two-sided market are broadcasted as "Sell", "Buy", or "Both", respectively, reflecting the transaction the submitter is initiating. Requests which are unspecified by the submitter are treated as a request for a two-sided market.

TimeKindSymbolVolumeSide
14:15:59 RFQ OBXU16P99125 300 Sell
13:12:14 RFQ SXFM16 200 Buy
13:14:16 RFQ CGFM16 250 Buy
12:16:18 RFQ OBXH17C9950 200 Buy
11:11:11 RFQ OGBM16C14150 150 Both
9:45:16 RFQ CGFM16 400 Sell
9:28:52 RFQ BAXU18 1,000 Both

The information contained in this document is for information purposes only and shall not be construed as legally binding. This document is a summary of the product's specifications which are set forth in the Rules of Bourse de Montréal Inc. ("Rules of the Bourse"). While Bourse de Montréal Inc. endeavors to keep this document up to date, it does not guarantee that it is complete or accurate. In the event of discrepancies between the information contained in this document and the Rules of the Bourse, the latter shall prevail. The Rules of the Bourse must be consulted in all cases concerning products' specifications.