RQ Summon Flows

These flows run on the Summon session (-RQ suffix). Timings are measured from the request. See Getting Started with Summon for the full picture.

  • 5 seconds (ValidUntilTime, 62, on the request responders receive): a Summon with a limit (537=1 and a price) goes on the book as a limit order. In Legacy RFQ, responses are forwarded to the requester.
  • 30 seconds (ExpireTime, 126): the last moment responses, and updates and cancels of them, are accepted. OpenYield then cancels responders' quotes and requesters' limits, but only for connections set up for it.

In the OpenYield model:

  • Responders can update price and size until 30 seconds after the request; they are not bound to their first price.
  • Responders can cancel quotes until 30 seconds after the request.
  • Fills arrive on TR and DC, not RQ.