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Request-for- market (RFM) is a request for a quote where the client does not reveal the direction of the desired trade (buy or sell).

An RFM is a request to see a two-sided or “market” quote rather than a one-sided quote.

RFM, also known as “two-way pricing”, involves a firm asking for both the pay and receive price for a given instrument, instead of just one, as is usually the case in a request-for-quote (RFQ).