Request for Quote 2.0
Transform the way you trade

London Stock Exchange’s RFQ 2.0 will revolutionise the ETF trading landscape, offering auto-complete RFQ functionality with an innovative order book sweep and direct central counterparty clearing (CCP) links, all under one exchange. It helps investors achieve better execution outcomes by accessing different types of liquidity instantly and in one place. The CCP links support operational efficiency as post-trade processes become more important in response to the impending Central Securities Depositories Regulation (CSDR).

How does it work?

  • Access RFQ 2.0 using your existing London Stock Exchange order book connectivity. The functionality allows execution directly on London Stock Exchange’s main market, achieving a “best full fill price” in a fully automated environment.
  • A tailored conditions-based execution model fits neatly into brokers’ “execution offering”.  ETF investors will choose “London Stock Exchange RFQ” order routing via the normal equity execution channels.
  • Auto-complete has simplified RFQ trading, turning the multi-click model  into a ‘one click’ “send & trade” approach. By not limiting the request to just RFQ responses, RFQ 2.0 can improve on the risk price and trade against lit  & hidden liquidity on the order book – achieving a better execution price.

 

Article: The future of ETF trading; best execution and settlement discipline - Learn more

RFQ 2.0 explained
To support the varied trading needs of our customers, London Stock Exchange introduced RFQ 2.0 for ETFs and ETPs. Watch this short film for a quick overview of how the functionality works.
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Documents and downloads

28.04.20, PDF, 1.56MB
21.07.20, XLS, 63.00KB

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