What is the Talos RFQ Platform?

The Talos RFQ Platform is an institutional-grade request-for-quote system for digital assets that replaces fragmented OTC trading with centralized, standardized RFQ workflows. It supports multi-asset quoting across spot, derivatives, multi-token baskets and structured orders, connecting buy-side institutions with a global network of liquidity providers for competitive price discovery and best execution.

How does the Talos RFQ Platform work?

The Talos RFQ workflow has four steps for takers: (1) Initiate an RFQ by defining asset(s), size, settlement terms, counterparty preferences and benchmark settings. (2) Receive competitive quotes as liquidity providers respond through UI or API with standardized or benchmark-based pricing. (3) Execute on the best quote and unlock leg-level visibility for multi-token baskets. (4) Settle and reconcile through straight-through processing for both fiat and crypto settlement with automatic reconciliation.

What asset types does the Talos RFQ Platform support?

The Talos RFQ Platform for digital assets supports spot RFQs, multi-token basket RFQs, options RFQs, and multi-leg structures. Support for loans, repos and forwards is planned. All asset types can be traded from a single interface with leg-level transparency and performance metrics.

What is spread-to-fix quoting in crypto RFQ?

Spread-to-fix quoting is a standardized pricing methodology where liquidity providers quote spreads relative to benchmark reference indices rather than absolute prices. This enables benchmark-aligned execution at scale, reduces negotiation overhead and price fragmentation, and provides a consistent framework for comparing quotes across multiple dealers.

Who uses the Talos RFQ Platform?

The Talos RFQ Platform is used by asset managers executing multi-asset strategies with benchmark-aligned pricing, ETF issuers operationalizing basket RFQs for benchmark replication, hedge funds reducing slippage on large block trades, and OTC desks and market makers funneling structured product demand through API-driven quote responses.

What is the difference between RFQ and exchange-based crypto trading?

Exchange-based trading matches orders on a public order book, which can cause slippage and market impact on large institutional trades. RFQ trading allows institutions to request firm quotes from multiple liquidity providers for specific trade sizes and structures, providing price certainty, competitive pricing transparency, and minimal market impact - particularly suited for block trades, multi-token baskets, derivatives and less liquid digital assets.

Can Talos integrate with our existing OMS or EMS infrastructure?

Yes. Talos is built to complement your existing technology stack. The platform integrates with leading OMS and EMS providers, including BlackRock's Aladdin, so digital asset workflows can be operationalized without rebuilding infrastructure from the ground up.

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RFQ Platform

A global marketplace for digital assets liquidity

Replace fragmented OTC trading with centralized, standardized RFQ workflows.

Manage multi-asset quoting across spot, derivatives, baskets and structured orders, with efficient price discovery and best execution controls.

Multi-asset, multi-leg
& basket support

Standardized spread-to-fix
and bilateral RFQ quoting

Broad liquidity
provider network

Extensive integrations

COMING SOON

Benefits

Unified OTC trading, without the friction

Institutional OTC trading has long relied on fragmented, manual workflows. The Talos RFQ Platform consolidates these workflows into a unified environment with centralized, standardized quoting. Request, compare and execute quotes across assets and liquidity providers in a controlled, auditable workflow, with seamless integration into execution, settlement and post-trade systems.

Simplicity

Compare competitive quotes from multiple liquidity providers in a single RFQ workflow, improving transparency and execution decision-making.

Transparency

Full visibility into quotes, fills, liquidity provider behavior and post-trade analysis.

Auditability

Structured RFQ workflows that support compliance, reporting, and post-trade analysis.

Scalability

Handle institutional-sized trades and complex structures without increasing operational overhead.

Standardized

RFQ workflows standardized for spot, baskets or derivatives, including spread-to-fix quoting, benchmark alignment and consistent execution logic.

Integrated

Native integration with OMS, PMS, custodians, fund administrators and pricing benchmarks.

Flexible

Spot, forwards, options, baskets, multi-leg structures - all from one interface.

Key Features

Multi-asset & multi-leg execution*

Spot RFQs

Multi-token basket RFQ

Options RFQ

Loans, repos and forwards (coming soon)

Leg-level transparency and performance metrics

*Not available to all clients

Standardized spread-to-fix quoting

LPs quote spreads relative to benchmark reference indices

Enable benchmark-aligned execution at scale

Reduce negotiation overhead and price fragmentation

Broad liquidity provider network

Global liquidity provider ecosystem

API and UI support

Extensive integrations

Custodians (crypto + fiat)

Fund admins

OMS/PMS systems

Pricing and benchmark data feeds

Prime brokers and settlement networks

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Use Cases

For Asset Managers

Talos helps you execute multi-asset strategies with benchmark-aligned pricing, while supporting pre-trade mandate compliance and efficient basket trading.

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For ETF Issuers

Talos helps you operationalize basket RFQs with standardized quoting across liquidity providers, enabling more consistent benchmark replication through fix-time execution.

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For Hedge Funds

Talos helps reduce slippage on large block trades by providing access to competitive liquidity, alongside automated post-trade allocation for faster, cleaner workflows.

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For OTC Desks and Market Makers

Talos helps funnel structured product demand into your workflow with API-driven quote responses, plus integrated booking and counterparty settlement management.

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