When Alice sends an RFQ and receives a Quote from 1 PFI, the tbdex flow is very simple. In the RFQ, Alice sends in the credentials that the PFI needs to check before they can provide a Quote. If the quote is sufficient for Alice, she sends in an Order, signaling she approves the Quote and wants to execute.
However, if Alice wants to send RFQs to multiple PFIs, and they all have different lead times to return a Quote back to Alice (i.e. PFI A takes 2 minutes, PFI B takes 6 hours), Alice has no way of comparing the Quotes to decide which one she likes enough to send the Order message that commits her to a PFI.
Having an RFQ-Pre-Approval (could use better naming!) tbdex message between RFQ and Quote step would allow for Alice to compare quotes by
Multiple PFIs receive Alice's RFQ
If the credentials in the RFQ are deemed sufficient, the PFIs send her (in 2 minutes, 6 hours, etc) RFQ-Pre-Approval message, which says you can get a Quote from us, when you are ready.
Alice waits until she has RFQ-Pre-Approval messages from all PFIs
Alice sends a message to the PFIs to say ok, I'm ready to get the Quote from you now
All PFIs who pre-approved Alice's RFQ sends her a Quote
Alice now has multiple Quotes she can compare and picks one and sends an Order
When Alice sends an RFQ and receives a Quote from 1 PFI, the tbdex flow is very simple. In the RFQ, Alice sends in the credentials that the PFI needs to check before they can provide a Quote. If the quote is sufficient for Alice, she sends in an Order, signaling she approves the Quote and wants to execute.
However, if Alice wants to send RFQs to multiple PFIs, and they all have different lead times to return a Quote back to Alice (i.e. PFI A takes 2 minutes, PFI B takes 6 hours), Alice has no way of comparing the Quotes to decide which one she likes enough to send the Order message that commits her to a PFI.
Having an RFQ-Pre-Approval (could use better naming!) tbdex message between RFQ and Quote step would allow for Alice to compare quotes by
you can get a Quote from us, when you are ready.ok, I'm ready to get the Quote from you now@mistermoe let me know if I missed any details