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MCAP Inc. Announces Growing Institutional Adoption of aRFQ™, QwickRoute's Automated Execution Protocol for ETFs
MCAP Inc. Announces Growing Institutional Adoption of aRFQ™, QwickRoute's Automated Execution Protocol for ETFs.
About this update from Mcap Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n MCAP Inc. Announces Growing Institutional Adoption of aRFQ™, QwickRoute's Automated Execution Protocol for ETFs\r\n \r\n \r\n\r\n\r\nMCAP Inc. Announces Growing Institutional Adoption of aRFQ™, QwickRoute's Automated Execution Protocol for ETFs\r\n\r\n\r\n\r\n\r\n\r\n\r\nNEW YORK, March 3, 2026 /PRNewswire/ -- MCAP Inc. (OTC: MCAP), today announced the growing institutional adoption and continued expansion of aRFQ™, an automated execution protocol available on QwickRoute, the auction-based execution and market data platform operated by its wholly owned broker-dealer subsidiary, MCAP LLC. After more than two years of live institutional operation, aRFQ™ has become a proven, scalable execution protocol — now used by over 50 institutional clients and engaging 15 liquidity providers — with growing adoption across the electronic ETF execution landscape.\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\nPlatform performance data underscores the protocol's effectiveness: in Q4 2025, over 92% of aRFQ™ executions priced at or inside the NBBO with near-zero market impact, auctions completed in under 1.9 seconds on average, and an average of 4.6 dealers quoted on every order — generating over 32 times the liquidity available at the lit NBBO.\r\n \"Competition has always been central to best execution,\" said Aaron Kehoe, Head of QwickRoute. \"With aRFQ™, we've taken the core principles of competitive auction-based execution and embedded them directly into electronic trading workflows — automated, repeatable, and designed to deliver consistent price discovery across all order sizes without adding operational complexity.\" \r\n As ETF trading volumes and algorithmic order flow continue to accelerate, execution desks face a structural tradeoff: competitive, multi-dealer liquidity has historically required stepping outside the electronic workflow through manual RFQ processes, while IOI-based venues that remain in the execution stack offer only indicative pricing that is not immediately actionable. aRFQ™ was designed to eliminate that tradeoff — delivering firm, competitive auction liquidity as a native destination within the electronic execution workflow.\r\n Unlike traditional RFQ processes that require traders to step outside their electronic ...