An RFQ asks desks for a firm price and fills instantly with no visible footprint; trading the lit order book is transparent and often cheaper, but shows your size and moves the price. The best choice depends on size, urgency and how much the book can absorb.
For a block large enough to move the lit book meaningfully, or when speed and discretion matter most, an RFQ's certainty can be worth its spread.
For sizes the market can absorb when routed and paced across venues, the lit book is usually cheaper — and transparent. Measuring both before you trade tells you which, for your size, today.
EnsoTrade prices a large order against live order books across venues — which venues to use, what size each piece should be, and whether to rest an order or cross the spread. It is independent measurement, not execution: your own desk or execution partner keeps placing the orders on its own accounts, and we never touch custody, keys or funds. Before a window we price it at your real clip size on the venues you can use; after a window we score the fill with full workings. We quote no price or saving until you give your real clip size and fee stack — then the number is yours to check.
Price an order before you trade and score the fill after, on live multi-venue order books. We never touch custody, keys or orders — the independence is the point.
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