Which interface is used by market makers to enter, replace, or cancel quotes, with executions for quotes?

Which interface is used by market makers to enter, replace, or cancel quotes, with executions for quotes?

• A. Standard Trading Interface (STI)
• B. Quote Trading Interface (QTI)
• C. Application Service Provider
• D. Trade Reconciliation Report (TRR)

Answer: (B)

The key idea is recognizing the interface built specifically for managing quotes and their executions. The Quote Trading Interface is designed for market makers to enter, replace, or cancel quotes and to receive executions tied to those quotes. This makes it the right fit because it handles the full quote lifecycle in real time—submit new quotes, modify existing ones, cancel when needed, and capture any fills or partial fills that occur against those quotes. The Standard Trading Interface is focused on regular trading and order management rather than dedicated quote handling. An Application Service Provider is a service model, not an interface for quote entry. A Trade Reconciliation Report is a post-trade document used for matching and settling trades, not for live quote management.

The key idea is recognizing the interface built specifically for managing quotes and their executions. The Quote Trading Interface is designed for market makers to enter, replace, or cancel quotes and to receive executions tied to those quotes. This makes it the right fit because it handles the full quote lifecycle in real time—submit new quotes, modify existing ones, cancel when needed, and capture any fills or partial fills that occur against those quotes.

The Standard Trading Interface is focused on regular trading and order management rather than dedicated quote handling. An Application Service Provider is a service model, not an interface for quote entry. A Trade Reconciliation Report is a post-trade document used for matching and settling trades, not for live quote management.