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Informative Article | Science and Technology | India | Volume 10 Issue 4, April 2021 | Popularity: 4.8 / 10

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Secure RFQ Negotiations: Enhancing Privacy and Efficiency in OTC Markets

Ananth Majumdar

Abstract: Privacy is crucial for market participants as it protects competitive strategies, maintains market stability, and ensures security against fraud, while complying with legal regulations. The current over-the-counter (OTC) trading mechanisms, primarily reliant on voice and chat communications, are cumbersome and prone to errors. Existing automated RFQ (Request for Quote) negotiation platforms raise concerns about data privacy, as platform providers can potentially access and misuse order information. This paper presents a privacy-preserving RFQ negotiation platform designed to facilitate secure and efficient transactions between multiple buyside and sellside participants. The platform ensures that the central system only facilitates transactions without accessing RFQ details, thus preserving privacy. Additionally, it offers scalability and configurability, allowing participants to selectively include counterparties and automate the negotiation process, thereby enhancing operational efficiency and compliance with regulatory requirements through comprehensive audit logs.

Keywords: privacy, market participants, OTC trading, automated RFQ platforms, data security

Edition: Volume 10 Issue 4, April 2021

Pages: 1398 - 1402

DOI: https://www.doi.org/10.21275/SR24615143146

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