OTC RFQ for Taker

RFQ Trading Flow

1. Taker can firstly subscribe to the following WebSocket channels:

   • user.otc_qr.requests
   • user.otc_qr.quotes
   • user.otc.deals

2. Taker can create a quote request via WebSocket: private/otc/request-quote

3. Taker, who will be notified of quotes from the WebSocket channel user.otc_qr.quotes, can create a deal request upon Quote message with private/otc/request-deal

4. Taker will receive confirmation of the deal's status on WebSocket channel user.otc.deals

5. Taker can get the rejected or completed quote request from Quote Query API

6. Taker can get the rejected or completed deal from Deal Query API

Quote Request Lifecycle

Status	Description
ACTIVE	user may receive a quote and user may call request-deal to execute a trade
COMPLETED	quote request duration has expired and no longer valid. User will not receive quote nor able to call request-deal anymore
REJECTED	rejected due to various reasons; quote request is no longer valid

Quote Lifecycle

Status	Description
ACTIVE	Quote is valid
EXPIRED	Quote has exceeded its TTL
CANCELLED	Liquidity provider cancelled the quote

Deal History

Use the deal history endpoint to retrieve executed trades. Deal statuses:

Status	Description
ACCEPTED	Deal request accepted by the system.
CONFIRMED	Liquidity provider has executed the deal.
SETTLED	Deal settled and funds transferred.
REJECTED	Deal request rejected (quote expired, insufficient balance, etc.)