The RFQ functionality on CME Direct is purpose-built to bring institutional-grade price discovery and execution efficiency to your Metals derivatives trading.

Instead of relying on a thin order book, the RFQ system instantly broadcasts your interest to the entire Globex network of liquidity providers.

• Competitive pricing: Attract multiple, simultaneous bids and offers from major market makers, ensuring you achieve the best executable price.
• On-demand liquidity: Quickly solicit quotes for less liquid Platinum options or strategies that may not have active prices in the CLOB.

This is the single biggest advantage for options traders. If you are executing a multi-leg strategy (like a synthetic futures contract or a put spread), the RFQ function treats the entire combination as a single transaction.

• Single-price execution: You request and execute the entire spread (e.g., a futures vs. options hedge) at one consolidated price.
• Guaranteed execution: This guarantees that all components of your strategy are executed simultaneously, eliminating legging risk - the danger that one leg executes while the price of another leg moves against you.

CME Direct centralizes your entire execution process, from analysis to final booking.

• Seamless integration: Build your complex PGM strategies using tools like the Quick Options Grid and submit the RFQ without leaving the platform.
• Audit trail: The system provides a complete, structured audit trail of the negotiation and execution, streamlining regulatory compliance and record-keeping.

1. Save file to your PC (most suitable place would be the same folder your existing layout is saved).
2. Log into CME Direct.
3. On CME Direct, across the top, go to Menu then select Import View.
4. Select the file you have saved. Click Open.
5. The tab will import.
6. If the tab imports to another area of your platform, highlight tab, click mouse and drag/move to the area you want.

Connect with a team member to learn more about the metals products described here. 

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