ESP/RFS Order State Transition Diagram

MSW TODO

Trading Venue as Maker

RFQ

Single shot quote, ValidUntilTime. Possible Dealer Intervention may deliver other quote(s) prior to expiry of first. Expiry terminiates the workflow.

RFS

ESP

Trading Venue as Taker

RFQ

Single shot quote, ValidUntilTime. Possible Dealer Intervention may deliver other quote(s) prior to expiry of first. Expiry terminiates the workflow.

RFS 

ESP