Side-by-side proof1 Buyer sends the request to a dealer panel2 Each dealer whispers a sealed ask (watch the rival column stay empty)3 Buyer awards — cheapest wins, paid the second price4 The regulator sees the trade, and only the trade
Buyer—
Open an RFQ
Quotes received (sealed to you)
No quotes yet.
Basket RFQ (multi-instrument)
Dealer A—
Dealer B—
Regulator audit trail post-trade only — the regulator sees nothing about live RFQs or losing quotes
Create RFQ choose how it should execute — the request itself is never public either way
My activity what this identity has done in this session
Active RFQs every request this party can see — rival dealers see only the ones they were invited to
Settlement rails the cash legs this desk can clear a trade in, and who issues each one
Dealer panel counted from your own auctions — a dealer cannot see this, and neither can the regulator
Portfolio what the identity you are signed in as actually holds — nobody else's book is readable from here
Verify the privacy — live, on-ledger
this queries what each party's node actually received from the ledger; it is not the UI filtering anything
Provable best execution
the regulator confirms the executed price against the sealed asks it was shown — no public order book needed