Summary
This article explains the Bitvavo RFQ (Request for Quote) Market Maker Program. It outlines how RFQ works on Bitvavo, what’s expected from participating market makers, and how professional trading firms can apply. If you're a market maker interested in offering firm quotes with high fill reliability, this program is designed for you.
The RFQ Market Maker Program supports Bitvavo’s Request for Quote (RFQ) feature — also known to users as the price guarantee. It allows Bitvavo users to lock in a quoted price for up to 5 seconds before executing a trade.
While RFQ-based trading represents a smaller portion of Bitvavo’s overall volume, it plays a key role in delivering a smooth, accessible trading experience for retail users. To power this reliably, Bitvavo collaborates with professional trading firms through this dedicated program.
What does the RFQ Market Maker Program involve?
As a market maker in this program, you provide firm, real-time quotes to Bitvavo users. Your quotes power the price guarantee feature, offering price certainty and instant execution. Bitvavo routes quote requests to participating market makers, and selected quotes are filled when the user accepts within the 5-second window.
Requirements for participation
All RFQ market makers must meet strict technical and execution benchmarks to ensure a consistent experience for end users.
| Vereiste | Beschrijving |
|---|---|
| Marktdekking | Het percentage van in aanmerking komende handelsparen op de Bitvavo Exchange waarvoor de market maker prijzen aanbiedt. |
| Reactiesnelheid offertes | Het percentage verzoeken om een offerte (RFQ’s) waarop binnen het opgegeven tijdsvenster wordt gereageerd. |
| Geldigheidsduur offerte | De periode waarin een offerte van de market maker geldig blijft, gemeten vanaf het moment dat Bitvavo deze ontvangt. |
| Dekkingsgraad offertes | Het percentage offertes van de market maker dat tijdig geaccepteerd en succesvol uitgevoerd wordt, exclusief fouten van het Bitvavo-handelsplatform of andere externe factoren. |
| Maandelijkse spreidingsindicator | Benchmark voor de kwaliteit van offertes, berekend als het 99e percentiel van de volumegewogen spreads ten opzichte van de middenprijs van alle voltooide RFQ-transacties. |
| CLOB-afwikkelingsdoelstelling | De snelheid en wijze waarop de market maker een RFQ-transactie afrondt door een overeenkomende taker-order te plaatsen in het orderboek van de exchange. |
How to apply
If you're a professional trading firm interested in joining the program:
Email us at: partnerships@bitvavo.com
Please include a brief description of your firm and your interest in the program.
FAQ
What is RFQ trading on Bitvavo?
RFQ (Request for Quote) allows users to receive a live price quote, valid for 5 seconds. If the user accepts, the trade is executed at the quoted price. This is also referred to as the “price guarantee” in the user interface.
What types of firms can join the RFQ Market Maker Program?
We work with professional trading firms and market makers with strong infrastructure for low-latency quoting, execution, and settlement.