Request for Market
a.k.a. RFM, Two-way quote request
Asking a dealer for both a buy and a sell price without saying which way you want to trade.
In plain English
Asking a dealer for both a buy and a sell price without saying which way you want to trade.
A request for market (RFM) is a poker-faced way to ask for a price. Instead of telling a dealer "I want to buy 50 million euros", which invites them to nudge the price up, you ask for their full market: a bid and an offer. Only then do you decide whether to buy, sell or walk away.
It keeps your intentions hidden, so dealers have to quote fairly on both sides. Compare with a request for quote (RFQ), where you usually reveal the direction.
Keep this word for good
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