QwickRoute’s aRFQ™ Raises the Bar on ETF Liquidity
Apr 14, 2026
Traders Magazine examines how MCAP’s ETF-specific aRFQ™ protocol brings liquidity processes that traditionally required manual intervention into scalable electronic workflows.
Traders Magazine profiles QwickRoute’s aRFQ™, MCAP’s automated Request for Quote protocol for ETF trading. The article describes how aRFQ™ integrates RFQ-style auctions into order-management systems, algorithms, and standard electronic execution workflows, making the process practical for orders ranging from one share to one million shares. After two years of operation, the protocol had expanded to more than 50 institutional clients and 15 liquidity providers. MCAP CEO David Menn and QwickRoute head Aaron Kehoe explain how the platform is intended to improve liquidity access, scalability, and execution quality while reducing the friction of traditional manual RFQ processes.
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