Market Orders in ETFs — Why They’re Misunderstood
ETF Execution & Market Structure
Market orders in ETFs can trade far from intrinsic value. This episode explains how aRFQ acts like a dynamic limit order with built-in guardrails, improving outcomes without the rigidity of hard limits.
The Evolution of RFQ in ETF Trading
A look at how Request for Quote (RFQ) protocols have evolved alongside the ETF market — from early equity-style workflows to today's electronic execution — and why the pace of market structure change has outstripped the tools traders rely on.
Aaron Kehoe
Head of QwickRoute
Intersection of RFQ and Electronic Execution
Where does RFQ fit inside an algo strategy? This episode breaks down how IOIs have historically limited actionable liquidity and created information leakage — and how aRFQ introduces a more dynamic, efficient workflow.
Brian Reale
Director at MCAP
Why ETF Execution Needed an Evolved Order Protocol
ETF execution has been notoriously hard to automate. Fair-value-tracking algos struggle with closed markets, complex baskets, and low average daily volumes. aRFQ flips the model — going to ETF pricing experts rather than calculating value internally.
Brian Reale
Director at MCAP
Early Access to Liquidity vs. Trading in the Herd
Being told to "wait an hour" before trading can mean taking unnecessary market risk. This episode challenges the conventional wisdom around ETF liquidity timing and makes the case for engaging liquidity earlier — on your terms.
Brian Reale
Director at MCAP
The Evolution of RFQ in ETF Trading
A look at how Request for Quote (RFQ) protocols have evolved alongside the ETF market — from early equity-style workflows to today's electronic execution — and why the pace of market structure change has outstripped the tools traders rely on.
Aaron Kehoe
Head of QwickRoute
Intersection of RFQ and Electronic Execution
Where does RFQ fit inside an algo strategy? This episode breaks down how IOIs have historically limited actionable liquidity and created information leakage — and how aRFQ introduces a more dynamic, efficient workflow.
Brian Reale
Director at MCAP
Why ETF Execution Needed an Evolved Order Protocol
ETF execution has been notoriously hard to automate. Fair-value-tracking algos struggle with closed markets, complex baskets, and low average daily volumes. aRFQ flips the model — going to ETF pricing experts rather than calculating value internally.
Brian Reale
Director at MCAP
Early Access to Liquidity vs. Trading in the Herd
Being told to "wait an hour" before trading can mean taking unnecessary market risk. This episode challenges the conventional wisdom around ETF liquidity timing and makes the case for engaging liquidity earlier — on your terms.
Brian Reale
Director at MCAP