RFQ is an electronic notification sent to a selection of counterparties of choice (Makers) requesting a price quote for specific options or futures strategy. It enables traders to anonymously access aggregated liquidity and pricing from several makers at a time, it is especially useful for large size orders when the depth of the market cannot meet the requirement. Given more and more traditional financial institutions entering the crypto market, RFQ can play an important role in the growth of institutional crypto options trading.
With this partnership, when a user uses RFQ on BIT, BIT calls Greeks.Live to obtain quotations from multiple makers and push the best quotations to the user. If a user accepts the quotation and confirms the transaction, BIT will call Greeks.Live to initiate the transaction and complete the settlement on BIT.
【Attention】
*RFQ supports USDT-margined options.
*Valid time of the RFQ’s single inquiry and transaction: The user can choose their desired valid time. The user needs to reinitiate another inquiry again.
*User's inquiry will be anonymous/public.
*Public Inquiry/Private Inquiry (Private inquiry must provide the 4-digit password to the bidder, and the bidder must enter the same 4-digit number before quoting the private inquiry)
Users need to meet the following requirements to use the RFQ product:
1. User has completed KYC2 verification on BIT;
2. User has created an API Key with the permission of Block trade on BIT;
3. User has bound the API Key of BIT on Greeks.Live;
4. User has bound the API Key of Greeks.Live on BIT.
About Greeks.Live
Greeks.live is an answer to crypto options traders. Designed by a group of senior crypto options traders with the initial purpose of better managing their own options portfolios.
Preparation before connecting to Greeks.Live
1. Register a BIT account
May click here to register account.
2. Create API key on BIT API page
May refer this link on the steps to create the API Key
Choose no, if you do not wish to whitelist your IP Address
Label and Permissions will be your personal preference, then press confirm
Remember the Access Key and Secret Key, as it will be used to connect with Greeks.Live
3) Register an Account at Greeks.Live
Visit this link to register your Greeks.Live account
Choose BIT platform before registering
4) Bind API with BIT Account
Once account is registered, go to [Bind BIT Account]
Click [API Bind] and input the API Credential
The Apikey (Access Key) and Apisecret (Secret Key) will be the details created from Step 1
Press confirm and you have successfully bind BIT API with Greeks.Live