The Book
Layer 04 · Private Matching + Execution

Private RFQ

Once eligibility and ranking surface a shortlist on the Match screen, Private RFQ turns that shortlist into a structured, time-boxed request for quote — off the visible marketplace.

Coming next phase
  • RFQ issuance restricted to acquirers that already passed the eligibility gate — no cold outreach to ineligible capacity.
  • Sealed-bid and open-counter modes, set per RFQ.
  • Deadline and auto-expiry handling, with eligibility re-checked at close in case capacity or risk appetite moved.
  • Threaded counter-offers against the original route, not a fresh negotiation from zero.
  • Accepted RFQs hand off directly into the Deal Room.