skew. is an RFQ (request for quote) trading protocol that links customers with market makers in order to facilitate price discovery for block trades. Therefore, during the onboarding process, a client will be requested to specify whether they would like to be a 'Customer' or a 'Market Maker'.
Customers are takers of liquidity and are charged for this service. Due to the fees involved, a customer is asked to fill out a rates agreement during the onboarding process. Learn more about fees on skew. . In order to trade, customers set a quantity and then send an RFQ to the market makers. These liquidity providers will compete to answer the quote with bid and ask prices. The best aggregated quote is displayed to the customer. The quote is available to the customer for a specified period of time, during which they are able to hit or lift to trade.
Market Makers are providers of liquidity. Liquidity providers are not charged a fee to trade, but have a contractual agreement with skew. stipulating a specified percentage of requests that must be quoted up to a certain size. This guarantees that there is liquidity available for customers, and that skewTrading. is providing the best pricing.