Quote Creation Workflow

⛔ Old “GRFQ” Workflow

Successful Quote Creation

1. API Request Returns 200 OK with status: OPEN

2. Event is sent to quote channel with kind: NEW

3. Event is sent to quote_book channel with kind: ADDED

Error Quote Creation

1. API Returns 400

2. No Websockets Messages

✅ New “OB” Workflow

Successful Quote Creation

1. API Request Returns 202 OK, including action_id field with status: PENDING

2. Event is sent to quote channel with kind: NEW

3. Event is sent to quote_book channel with kind: ADDED

4. Event is sent to quote_status channel with matching action_id and success: true

Error Quote Creation - API Validations Fail

1. API Returns 400

Error Quote Creation - Order Book Validations Fail

1. API Request Returns 202 OK, including action_id field with status: PENDING

2. Event is sent to quote channel with kind: CANCELED and status: CLOSED

3. Event is sent to quote_status channel, with matching action_id, and success: false

No WebSocket message is sent with the details of the pending quote, these details are only returned in the API Response

💬 Sample Messages

• [POST] /rfqs/{rfq_id}/quotes/ API Response, Pending Quote Creation

  {
      "id": "q_2YpMiJJRxTl6N66lGF5LOPsTdJY",
      "rfq_id": 50126520,
      "action_id": "538da55e-2617-418b-a60f-0fae2413ebdb",
      "client_order_id": "a823e52e-9238-4ca2-ac78-13ff96cdd732",
      "description": "Call  30 Nov 23  35000",
      "maker": "PDGM",
      "price": "0.053",
      "side": "BUY",
      "type": "LIMIT",
      "product_codes": [
          "DO"
      ],
      "created": 1701218193752.5461,
      "status": "PENDING"
  }

• quote Channel, Successfully Created Quote

  {
    "jsonrpc": "2.0",
    "method": "subscription",
    "params": {
      "channel": "quote",
      "data": {
        "kind": "NEW",
        "quote": {
          "status": "OPEN",
          "side": "BUY",
          "maker": "JAMMN",
          "original_quantity": "25.3",
          "client_order_id": "d62f11b5-e7a7-42c4-b28f-bef368de2d22",
          "legacy_id": 72983001,
          "price": "0.053",
          "id": "q_2Ym0K4wTjVfLEkditbWH5tFQ9ZW",
          "legs": [
            {
              "side": "BUY",
              "price": "0.053"
            }
          ],
          "remaining_quantity": "25.3",
          "filled_quantity": "0",
          "rfq_id": 50126134,
          "product_codes": [
            "DO"
          ],
          "type": "LIMIT",
          "created": 1701115380798.1218,
          "last_activity": 1701115380856.506,
          "description": "Call  30 Nov 23  35000"
        }
      },
      "meta": {
        "seq_group": 605630333,
        "seq_num": 10
      }
    }
  }

• quote_book Channel, Successfully Created Quote

  {
    "jsonrpc": "2.0",
    "method": "subscription",
    "params": {
      "channel": "quote_book",
      "data": {
        "kind": "ADDED",
        "quote": {
          "status": "OPEN",
          "side": "BUY",
          "legacy_id": 72983001,
          "price": "0.053",
          "created": 1701115380798.1218,
          "last_activity": 1701115380856.506,
          "id": "q_2Ym0K4wTjVfLEkditbWH5tFQ9ZW",
          "legs": [
            {
              "side": "BUY",
              "price": "0.053"
            }
          ],
          "remaining_quantity": "25.3",
          "rfq_id": 50126134
        }
      },
      "meta": {
        "seq_group": 80552588,
        "seq_num": 3324
      }
    }
  }

• quote_status Channel, Successful API Request

  {
    "jsonrpc": "2.0",
    "method": "subscription",
    "params": {
      "channel": "quote_status",
      "data": {
        "action_id": "71561c1f-f43b-4fb0-abc5-d7dcfbc81b0c",
        "kind": "create",
        "success": true
      },
      "meta": {
        "seq_group": 4113064136,
        "seq_num": 3
      }
    }
  }

• quote_status Channel, Error API Request

  {
    "jsonrpc": "2.0",
    "method": "subscription",
    "params": {
      "channel": "quote_status",
      "data": {
        "action_id": "71561c1f-f43b-4fb0-abc5-d7dcfbc81b0c",
        "kind": "create",
        "success": false,
        "error_code": 3303,
        "error_message": "Limit of 2 for BUY-side quote reached. Please cancel an active quote before submitting a new one."
      },
      "meta": {
        "seq_group": 4113064136,
        "seq_num": 3
      }
    }
  }