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X_TRADER® Documentation

RFQ Overview

You are viewing X_TRADER Version 7.17 and higher. For earlier versions, click here

Before you can use the RFQ feature within X_TRADER, you must configure the default RFQ quantity and display the RFQ button in the Market Grid.


  • When using X_TRADER in X_TRADER ASP mode, the RFQ feature is enabled in TT User Setup.
  • Broker administrators in a X_TRADER ASP environment can enable or disable RFQ on a per user basis. If disabled in X_TRADER ASP mode, the Send RFQ command is grayed-out in the Quote Board, Spread Matrix, MD Trader, and Market Grid.
  • The RFQ feature is not available when running X_TRADER in simulation mode.

Procedure 1: To configure RFQ:

  1. From the Control Panel, click the Settings menu and choose Properties. The Properties dialog box opens.

  2. Click the Order Entry tab.
  3. Set the default RFQ quantity.

  4. Click to select the Timer (sec) box and set the number of seconds the RFQ button goes green to indicate an RFQ has been received.

Procedure 2: To display the RFQ column within the Market Grid.

  1. Right-click anywhere in the Market Grid to access the context menu.

  2. Click Show/Hide columns and click to select the RFQ column.

    An RFQ button displays after the Del Srs column for every contract.

Editing and Sending a RFQ

Follow these procedures to edit, generate and send RFQs:

Note: When using X_TRADER in X_TRADER ASP mode, a broker must be entered in the Broker column before the RFQ functionality is enabled. If the broker administrator disabled RFQ for the user in TT User Setup, the Send RFQ command is grayed-out in the right-click context menu.

Sending a single RFQ:

  1. Make sure the RFQ column is displayed in the Market Grid.
  2. Click the RFQ button within the Market Grid to send a request for quote on any contract. The new RFQ is sent to market.

To send multiple RFQs:

  1. In the Market Grid, click at least two products to select them.

    Note: Hold down the CTRL key to select multiple products.

  2. Right-click on a selected product or multiple products in the Market Grid to open the context menu.

  3. Click Send RFQ to view the quotes before sending to market. The Request For Quote dialog box opens so that you can view and send the quotes. You can select “indicative” or “tradeable” RFQ types.
  4. Click Send to generate unedited quotes based on current market conditions.

The new RFQs are sent to market.

Editing a RFQ (change pricing or other information):

  1. From the Market Grid right-click to select the contract. The context menu displays.
  2. Click Send RFQ to edit the quote before sending to market. The Request For Quote dialog box opens so that you can edit the RFQ.
  3. Edit the RFQ as needed and click Send.

Tracking a RFQ

All exchange messages relating to quoting display in the Quote Audit Trail. Use this window to confirm outbound quoting events and monitor inbound quoting events (i.e., RFQs).

X_TRADER uses the Quote Audit Trail to monitor RFQ activity. The Quote Audit Trail displays messages related to the RFQ from the exchanges. You can also use this message window to monitor incoming and outgoing RFQs.

To open the Quote Audit Trail: 

From the Control Panel, click the Window menu and choose Quote Audit Trail.