Quotes

{
    "method": "subscribe",
    "params": {
        "channel": "quotes",
        "asset_class": "derivatives",
        "token": "G38a1tGFzqGiUCmnegBcm8d4nfP3tytiNQz6tkCBYXY"
    }
}

{
    "method": "subscribe",
    "result": {
        "channel": "quotes",
        "asset_class": "derivatives",
        "snapshot": true
    },
    "success": true,
    "time_in": "2026-10-08T14:58:13.111530Z",
    "time_out": "2026-10-08T14:58:13.111775Z"
}

{
    "channel": "quotes",
    "type": "snapshot",
    "data": [
        {
            "type": "rfq",
            "rfq_id": "3f9a6c1e-7b42-4d1a-9c55-2e8b0d4f6a13",
            "legs": [
                {
                    "symbol": "OF_XBTUSD_261225_80000_C",
                    "size": 5
                },
                {
                    "symbol": "OF_XBTUSD_261225_90000_C",
                    "size": 10
                }
            ],
            "expiry": "2026-10-08T15:05:00.000000Z",
            "status": "open",
            "best_bid": 4150.0,
            "best_ask": 4310.0,
            "best_bid_legs": [
                {
                    "symbol": "OF_XBTUSD_261225_80000_C",
                    "price": 2450.0
                },
                {
                    "symbol": "OF_XBTUSD_261225_90000_C",
                    "price": 1700.0
                }
            ]
        },
        {
            "type": "offer",
            "offer_id": "a81d2f40-5c3e-4b6f-8e19-7d0c2b9a4e55",
            "rfq_id": "c6e4b7a2-1f08-4d93-b3a5-90e1f7d26c84",
            "bid": 1180.0,
            "ask": 1240.0,
            "status": "open"
        }
    ]
}

{
    "channel": "quotes",
    "type": "update",
    "data": [
        {
            "type": "rfq",
            "rfq_id": "3f9a6c1e-7b42-4d1a-9c55-2e8b0d4f6a13",
            "legs": [
                {
                    "symbol": "OF_XBTUSD_261225_80000_C",
                    "size": 5
                },
                {
                    "symbol": "OF_XBTUSD_261225_90000_C",
                    "size": 10
                }
            ],
            "expiry": "2026-10-08T15:05:00.000000Z",
            "status": "filled_bid_side",
            "best_bid": 4150.0,
            "best_ask": 4310.0,
            "best_bid_legs": [
                {
                    "symbol": "OF_XBTUSD_261225_80000_C",
                    "price": 2450.0
                },
                {
                    "symbol": "OF_XBTUSD_261225_90000_C",
                    "price": 1700.0
                }
            ]
        }
    ]
}

{
    "channel": "quotes",
    "type": "update",
    "data": [
        {
            "type": "offer",
            "offer_id": "a81d2f40-5c3e-4b6f-8e19-7d0c2b9a4e55",
            "rfq_id": "c6e4b7a2-1f08-4d93-b3a5-90e1f7d26c84",
            "bid": 1180.0,
            "ask": 1240.0,
            "status": "cancelled"
        }
    ]
}

{
    "channel": "quotes",
    "type": "snapshot",
    "error": "snapshot_too_large",
    "data": []
}

{
    "method": "unsubscribe",
    "params": {
        "channel": "quotes",
        "asset_class": "derivatives",
        "token": "G38a1tGFzqGiUCmnegBcm8d4nfP3tytiNQz6tkCBYXY"
    }
}

{
    "method": "unsubscribe",
    "result": {
        "channel": "quotes"
    },
    "success": true,
    "time_in": "2026-10-08T15:10:13.111530Z",
    "time_out": "2026-10-08T15:10:13.111775Z"
}

{
    "method": "subscribe",
    "params": {
        "channel": "quotes",
        "asset_class": "derivatives",
        "token": "G38a1tGFzqGiUCmnegBcm8d4nfP3tytiNQz6tkCBYXY"
    }
}

{
    "method": "subscribe",
    "result": {
        "channel": "quotes",
        "asset_class": "derivatives",
        "snapshot": true
    },
    "success": true,
    "time_in": "2026-10-08T14:58:13.111530Z",
    "time_out": "2026-10-08T14:58:13.111775Z"
}

{
    "channel": "quotes",
    "type": "snapshot",
    "data": [
        {
            "type": "rfq",
            "rfq_id": "3f9a6c1e-7b42-4d1a-9c55-2e8b0d4f6a13",
            "legs": [
                {
                    "symbol": "OF_XBTUSD_261225_80000_C",
                    "size": 5
                },
                {
                    "symbol": "OF_XBTUSD_261225_90000_C",
                    "size": 10
                }
            ],
            "expiry": "2026-10-08T15:05:00.000000Z",
            "status": "open",
            "best_bid": 4150.0,
            "best_ask": 4310.0,
            "best_bid_legs": [
                {
                    "symbol": "OF_XBTUSD_261225_80000_C",
                    "price": 2450.0
                },
                {
                    "symbol": "OF_XBTUSD_261225_90000_C",
                    "price": 1700.0
                }
            ]
        },
        {
            "type": "offer",
            "offer_id": "a81d2f40-5c3e-4b6f-8e19-7d0c2b9a4e55",
            "rfq_id": "c6e4b7a2-1f08-4d93-b3a5-90e1f7d26c84",
            "bid": 1180.0,
            "ask": 1240.0,
            "status": "open"
        }
    ]
}

{
    "channel": "quotes",
    "type": "update",
    "data": [
        {
            "type": "rfq",
            "rfq_id": "3f9a6c1e-7b42-4d1a-9c55-2e8b0d4f6a13",
            "legs": [
                {
                    "symbol": "OF_XBTUSD_261225_80000_C",
                    "size": 5
                },
                {
                    "symbol": "OF_XBTUSD_261225_90000_C",
                    "size": 10
                }
            ],
            "expiry": "2026-10-08T15:05:00.000000Z",
            "status": "filled_bid_side",
            "best_bid": 4150.0,
            "best_ask": 4310.0,
            "best_bid_legs": [
                {
                    "symbol": "OF_XBTUSD_261225_80000_C",
                    "price": 2450.0
                },
                {
                    "symbol": "OF_XBTUSD_261225_90000_C",
                    "price": 1700.0
                }
            ]
        }
    ]
}

{
    "channel": "quotes",
    "type": "update",
    "data": [
        {
            "type": "offer",
            "offer_id": "a81d2f40-5c3e-4b6f-8e19-7d0c2b9a4e55",
            "rfq_id": "c6e4b7a2-1f08-4d93-b3a5-90e1f7d26c84",
            "bid": 1180.0,
            "ask": 1240.0,
            "status": "cancelled"
        }
    ]
}

{
    "channel": "quotes",
    "type": "snapshot",
    "error": "snapshot_too_large",
    "data": []
}

{
    "method": "unsubscribe",
    "params": {
        "channel": "quotes",
        "asset_class": "derivatives",
        "token": "G38a1tGFzqGiUCmnegBcm8d4nfP3tytiNQz6tkCBYXY"
    }
}

{
    "method": "unsubscribe",
    "result": {
        "channel": "quotes"
    },
    "success": true,
    "time_in": "2026-10-08T15:10:13.111530Z",
    "time_out": "2026-10-08T15:10:13.111775Z"
}

The quotes channel streams your side of the request for quote (RFQ) workflow. It sends two types of entry:

rfq: an RFQ you created, with the best bid and best ask offered on it so far.
offer: an offer you placed on another account’s RFQ.

For the public list of all open RFQs, see the rfqs channel. That channel never shows offers or who made a request. When the requester accepts an offer, the trades it produces are sent as ordinary executions with order_type rfq on the executions channel. There is one fill per leg. They are not sent on this channel. The order in which the RFQ status update, the executions and the positions updates arrive is not guaranteed. The channel does not carry mark prices. To get them, subscribe to the ticker channel.

Messages on this channel carry no sequence numbers. To recover after a gap, resubscribe with snapshot set to true.

The asset_class parameter is required on every subscribe and unsubscribe request for the quotes channel. Requests that omit it are not accepted. This channel contains account specific data, an authentication token is required in the request.

Request
Response

string

required

Value: subscribe

object

required

Hide properties

string

required

Value: quotes

string

required

One of: derivativesThe asset class for the request. Must be included.

string

required

Authentication token. See authentication guide for details.

boolean

One of: true, false
Default: trueRequest a snapshot of your open RFQs and offers after subscribing.

integer

Optional client originated request identifier sent as acknowledgment in the response.

string

required

Value: subscribe

object

Hide properties

string

required

Value: quotes

string

The asset class of the subscription.

boolean

Indicates if a snapshot is requested.

boolean

Indicates if the request was successfully processed by the engine. One of: true, false

string

Error message. Condition: if success is false.

string

The timestamp when the subscription was received on the wire, just prior to parsing data. Format: RFC3339. Example: 2022-12-25T09:30:59.123456Z

string

The timestamp when the acknowledgement was sent on the wire, just prior to transmitting data. Format: RFC3339. Example: 2022-12-25T09:30:59.123456Z

integer

Optional client originated request identifier sent as acknowledgment in the response.

If the feed is not ready yet, for example just after the service starts, the subscription fails with the error RFQ feed warming up, please retry. Retry with backoff.

Snapshot / Update

The snapshot and update messages share the same schema. The snapshot lists your open RFQs and your open offers. After that, an update is sent each time one of them changes:

The best offers on your RFQ change: an offer is placed, re-quoted or withdrawn.
You re-quote one of your offers. The update keeps the same offer_id.
You withdraw one of your offers, or it is cancelled because it failed its checks when the requester tried to accept it. Your offer gets a final update with status cancelled.
An RFQ closes. Your RFQ, and each offer on it, gets a final update with the RFQ’s status: expired, cancelled, filled_bid_side or filled_ask_side.

After its final update, an entry is no longer sent.

When an RFQ is filled, every offer on it gets the status filled_bid_side or filled_ask_side, including offers that were not accepted. This status does not mean your offer traded. To see whether it did, check the executions channel.

If the closing message is lost, the RFQ and its offers are closed with status expired 10 seconds after the RFQ’s expiry. A snapshot never includes an RFQ that is past its expiry, or its offers. You may receive another snapshot after the first one if you subscribed with snapshot set to true. This happens when the feed recovers from a connection loss or the trading engine restarts. When you receive one, replace your RFQs and offers with its contents. After an engine restart, every open RFQ and offer first receives an update with status cancelled, then you receive an empty snapshot. Each entry in data has a type field, rfq or offer, that tells you which fields it carries.

string

Value: quotes

string

One of: snapshot, update

object[]

A list of RFQ and offer entries.

Hide properties

string

One of: rfq, offerThe type of entry.

string

Condition: offer entries only.
Format: UUIDThe unique identifier of your offer.

string

Format: UUIDThe unique identifier of the RFQ. On an offer entry, this is the RFQ the offer was placed on.

object[]

Condition: rfq entries only.The contracts you asked to trade.

Show properties

string

Example: OF_XBTUSD_261225_80000_CThe symbol of the derivatives contract.

float

The size of the leg.

string

Condition: rfq entries only.
Format: RFC3339
Example: 2026-10-08T15:05:00.000000ZThe time at which the RFQ expires.

float

Condition: rfq entries, when at least one offer has a bid.The total price of the best bid across all offers on your RFQ. If two offers have the same price, the one that was updated first is the best.

float

Condition: rfq entries, when at least one offer has an ask.The total price of the best ask across all offers on your RFQ. If two offers have the same price, the one that was updated first is the best.

object[]

Condition: rfq entries, when the offer that set best_bid was priced per leg. Omitted for package offers, which have a total price only.The per-leg prices of the offer that set best_bid.

Show properties

string

The symbol of the derivatives contract.

float

The price for this leg.

object[]

Condition: rfq entries, when the offer that set best_ask was priced per leg. Omitted for package offers, which have a total price only.The per-leg prices of the offer that set best_ask.

Show properties

string

The symbol of the derivatives contract.

float

The price for this leg.

float

Condition: offer entries, when your offer has a bid.The total price of your bid. If you priced the bid per leg, the total is computed from your leg prices.

float

Condition: offer entries, when your offer has an ask.The total price of your ask. If you priced the ask per leg, the total is computed from your leg prices.

object[]

Condition: offer entries, when your bid was priced per leg.The per-leg prices of your bid.

Show properties

string

The symbol of the derivatives contract.

float

The price for this leg.

object[]

Condition: offer entries, when your ask was priced per leg.The per-leg prices of your ask.

Show properties

string

The symbol of the derivatives contract.

float

The price for this leg.

string

One of: open, expired, cancelled, filled_bid_side, filled_ask_sideThe status of the entry. The values are the same as in REST.On an rfq entry:

open: the RFQ accepts offers.
expired and cancelled: the RFQ closed without a trade.
filled_bid_side and filled_ask_side: you accepted an offer on that side.

On an offer entry, the status is the RFQ’s status, except that a withdrawn offer, or one cancelled at acceptance, is cancelled while the RFQ stays open. A filled_* status does not mean your offer was the one accepted.

string

One of: snapshot_too_large
Condition: if the snapshot exceeded the maximum message size.The snapshot could not be delivered, and data is empty. Resubscribe to request the snapshot again.

Fields that do not apply to an entry are omitted. For example, best_ask is omitted while no offer has an ask, and an offer’s bid is omitted when it quoted only the ask side.

Unsubscribe

Request
Response

string

required

Value: unsubscribe

object

required

Hide properties

string

required

Value: quotes

string

required

One of: derivativesThe asset class for the request. Must be included.

string

required

Authentication token. See authentication guide for details.

integer

Optional client originated request identifier sent as acknowledgment in the response.

string

required

Value: unsubscribe

object

Hide properties

string

required

Value: quotes

boolean

Indicates if the request was successfully processed by the engine. One of: true, false

string

Error message. Condition: if success is false.

string

The timestamp when the subscription was received on the wire, just prior to parsing data. Format: RFC3339. Example: 2022-12-25T09:30:59.123456Z

string

The timestamp when the acknowledgement was sent on the wire, just prior to transmitting data. Format: RFC3339. Example: 2022-12-25T09:30:59.123456Z

integer

Optional client originated request identifier sent as acknowledgment in the response.

Public Channels

Trading

Account

System

Snapshot / Update

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