WebSocket

The maker WebSocket lets you price RFQs without running a public server. You keep one connection open. We push each quote round to you, and you answer on the same connection. A quote round is the auction for one RFQ (request for quote). Every registered pricer can quote on it. The socket replaces the HTTP server that webhooks need. You need no TLS certificate, no public hostname, and no signature checks. You authenticate once, when you connect. The timing is the same as for webhooks. Each auction lasts 3 seconds. When you win, you get a 1-second last look: a final chance to confirm or reject the trade. If you don’t answer in time, we reject the trade.

Connect

Environment	URL
Production	`wss://api.novig.com/rfq/ws`
QA	`wss://api-qa.novig.us/rfq/ws`

Send your OAuth 2.0 access token as a bearer token on the upgrade request. It’s the same market-maker token the REST API uses. See Authentication.

Authorization: Bearer YOUR_ACCESS_TOKEN

The token identifies your trader, so your messages carry no pricer ID and no signature.

Register a pricer before you connect

We refuse the upgrade if your trader has no pricer registration. Register once with POST /rfq/pricer and the body {}. A socket-only pricer needs no webhook and gets no shared secret. The registration outlives every connection, so you don’t register again when you reconnect. See Registration.

Why the upgrade fails

We check your token and your registration before the upgrade. A failure comes back as a plain HTTP status.

Status	Cause	Retry
`401`	The token is missing or invalid	No. Fix the token
`403`	Not a market-maker token, or no pricer registration	No. Register first
`404`	The socket is off in this environment	No. Ask us to turn it on
`500`	We couldn’t read your registration	Yes, with backoff

Channels

A channel is a stream of events you subscribe to. There are two.

Event	Channel	We send it when
`rfq_created`	`rfq`	A round opens
`rfq_closed`	`rfq`	A round’s auction closes
`rfq_executed`	`rfq`	Any RFQ trade fills
`quote_created`	`quotes`	We record your quote
`quote_accepted`	`quotes`	You win and must confirm
`quote_executed`	`quotes`	Your quote fills
`quote_unfilled`	`quotes`	Your confirmed quote won’t fill
`quote_dropped`	`quotes`	We drop your quote for a reason you can fix

We send rfq events to every pricer. We send quotes events only to you.

Subscribe to both channels to trade. Without quotes you never see quote_accepted, so we reject every trade you win.

How a round works

We open a round

rfq_created arrives on rfq with the legs, the minimum stake, and the deadline.

You answer

Send create_quote before expires_at, or send decline to pass.

The auction closes

rfq_closed arrives. Stop pricing that round.

You confirm a win

If you win, quote_accepted arrives on quotes. Send confirm within 1 second.

The trade fills or doesn't

After you confirm, quote_executed or quote_unfilled arrives on quotes.

Message format

Every message is a JSON text frame with two keys: event names the message, and data holds its payload. We answer every message you send with one ack or one error. Every frame we send also carries timestamp, the time we emitted it. Other times are named fields in data. For example, expires_at is when the auction closes, and executed_at is when the trade filled. We send decimal amounts like price, max_wager, and wager as JSON strings. Send yours as strings too.

Messages you send

subscribe

Start getting a channel's events

unsubscribe

Stop getting a channel's events

We ack with unsubscribed.

{
  "event": "unsubscribe",
  "data": "quotes"
}

string

required

"rfq" or "quotes".

create_quote

Quote an open round

We ack with quote_submitted.

{
  "event": "create_quote",
  "data": {
    "rfq_id": "0193abcd-0000-7000-8000-000000000001",
    "price": "0.45",
    "max_wager": "250",
    "quote_id": "mm-1"
  }
}

UUID string

required

The round, from rfq_created.

decimal string

required

A decimal probability between 0 and 1. "0.45" means a $0.45 stake per $1.00 payout. We round it to the nearest 0.001.

decimal string

required

The largest taker stake this quote covers, in Novig Cash. It must be above zero.

string

Your own reference for the quote, up to 256 bytes. We return it to you as external_flag. Leave it out if you don’t need one.

You get one quote per round, and your first quote stands. We drop a second quote for the same rfq_id and ack it with quote_superseded. To change your price, wait for the next round.

decline

Pass on an open round

We ack with quote_declined.

{
  "event": "decline",
  "data": {
    "rfq_id": "0193abcd-0000-7000-8000-000000000001"
  }
}

UUID string

required

The round, from rfq_created.

Declining is optional. A round you don’t answer closes on its own.A decline tells us you saw the round and passed. Silence looks the same as a pricer that is down or lagging.

confirm

Answer the last look on a quote you won

We ack with confirm_recorded.

{
  "event": "confirm",
  "data": {
    "rfq_id": "0193abcd-0000-7000-8000-000000000001",
    "quote_id": "0193abcd-0000-7000-8000-00000000000a",
    "confirmed": true
  }
}

UUID string

required

The round, from quote_accepted.

UUID string

required

Our ID for your quote, from quote_accepted. It’s not the quote_id you sent on create_quote.

boolean

required

true fills the trade at your quoted price. false rejects it.

You have 1 second, and silence rejects the trade. A late answer, or a dropped connection before you answer, rejects it just as false does.

Your first answer counts. A second answer gets CONFIRM_ALREADY_DECIDED, or NO_CONFIRM_WINDOW once the window has closed.

Events we send

You get a channel’s events after you subscribe to it.

rfq_created

A round opened (rfq channel)

Send your quote or decline before expires_at.

{
  "event": "rfq_created",
  "data": {
    "rfq_id": "0193abcd-0000-7000-8000-000000000001",
    "outcome_ids": [
      "11111111-1111-1111-1111-111111111111",
      "22222222-2222-2222-2222-222222222222"
    ],
    "expires_at": "2026-01-01T00:00:03Z",
    "min_wager": "15"
  },
  "timestamp": "2026-01-01T00:00:00.123Z"
}

string

required

"rfq_created".

ISO-8601 string

required

When we emitted the frame.

UUID string

required

The round. Send it on every message about this round.

array of UUID strings

required

The legs, in the order the taker asked for them. GET /rfq/executions sorts the same legs by outcome ID. See Universe model.

ISO-8601 string

required

When the auction closes, 3 seconds after we opened the round.

decimal string

required

The smallest stake a quote must cover: the taker’s minimum or our minimum of $10.00, whichever is higher. We drop a quote whose max_wager is below it, with reason below_min_wager.

rfq_closed

The auction closed (rfq channel)

Stop pricing the round. We answer a create_quote that arrives after this with RFQ_CLOSED.

{
  "event": "rfq_closed",
  "data": {
    "rfq_id": "0193abcd-0000-7000-8000-000000000001"
  },
  "timestamp": "2026-01-01T00:00:03.001Z"
}

string

required

"rfq_closed".

ISO-8601 string

required

When we emitted the frame.

UUID string

required

The round that closed.

rfq_executed

A trade filled, with no counterparty named (rfq channel)

Every pricer sees this event, so it names no one.

{
  "event": "rfq_executed",
  "data": {
    "rfq_id": "0193abcd-0000-7000-8000-000000000001",
    "wager": "50",
    "price": "0.50",
    "executed_at": "2023-11-14T22:13:20Z"
  },
  "timestamp": "2023-11-14T22:13:20.050Z"
}

string

required

"rfq_executed".

ISO-8601 string

required

When we emitted the frame.

UUID string

required

The round.

decimal string

required

The amount staked.

decimal string

required

The execution price.

ISO-8601 string

required

When the trade filled.

quote_created

We recorded your quote (quotes channel)

We recorded your quote when the auction closed.

{
  "event": "quote_created",
  "data": {
    "quote_id": "0193abcd-0000-7000-8000-00000000000a",
    "rfq_id": "0193abcd-0000-7000-8000-000000000001",
    "pricer_trader_id": "0193abcd-0000-7000-8000-0000000000ff"
  },
  "timestamp": "2026-01-01T00:00:03.001Z"
}

string

required

"quote_created".

ISO-8601 string

required

When we emitted the frame.

UUID string

required

Our ID for your quote.

UUID string

required

The round.

UUID string

required

Your pricer.

quote_accepted

You won. Confirm within 1 second (quotes channel)

The taker is trading against your quote. Answer with confirm.

{
  "event": "quote_accepted",
  "data": {
    "quote_id": "0193abcd-0000-7000-8000-00000000000a",
    "rfq_id": "0193abcd-0000-7000-8000-000000000001",
    "pricer_trader_id": "0193abcd-0000-7000-8000-0000000000ff",
    "wager": "50",
    "price": "0.55",
    "external_flag": "mm-1"
  },
  "timestamp": "2026-01-01T00:00:05.250Z"
}

string

required

"quote_accepted".

ISO-8601 string

required

When we emitted the frame.

UUID string

required

Our ID for your quote. Send this one back on confirm.

UUID string

required

The round.

UUID string

required

Your pricer.

decimal string

required

The taker’s stake. It’s never above the max_wager you quoted.

decimal string

required

The price you quoted.

string or null

required

The quote_id you sent on create_quote, or null if you sent none.

quote_executed

Your quote filled (quotes channel)

This event names your pricer, which rfq_executed leaves out.

{
  "event": "quote_executed",
  "data": {
    "quote_id": "0193abcd-0000-7000-8000-00000000000a",
    "rfq_id": "0193abcd-0000-7000-8000-000000000001",
    "pricer_trader_id": "0193abcd-0000-7000-8000-0000000000ff",
    "wager": "50",
    "price": "0.55",
    "executed_at": "2023-11-14T22:13:20Z"
  },
  "timestamp": "2023-11-14T22:13:20.050Z"
}

string

required

"quote_executed".

ISO-8601 string

required

When we emitted the frame.

UUID string

required

Our ID for your quote.

UUID string

required

The round.

UUID string

required

Your pricer.

decimal string

required

The amount staked.

decimal string

required

The execution price.

ISO-8601 string

required

When the trade filled.

quote_unfilled

Your confirmed quote won't fill (quotes channel)

You confirmed, but the trade didn’t fill. Release anything you reserved for it.A quote you confirm ends in either quote_executed or quote_unfilled.

{
  "event": "quote_unfilled",
  "data": {
    "quote_id": "0193abcd-0000-7000-8000-00000000000a",
    "rfq_id": "0193abcd-0000-7000-8000-000000000001",
    "pricer_trader_id": "0193abcd-0000-7000-8000-0000000000ff",
    "reason": "taker_insolvent"
  },
  "timestamp": "2023-11-14T22:13:20.050Z"
}

string

required

"quote_unfilled".

ISO-8601 string

required

When we emitted the frame.

UUID string

required

Our ID for your quote.

UUID string

required

The round.

UUID string

required

Your pricer.

string

required

Why the trade didn’t fill.

`reason`	Means
`taker_insolvent`	The taker’s balance didn’t cover the stake and fee
`pricer_insolvent`	Your balance didn’t cover the collateral and fee
`both_insolvent`	Neither balance covered its side

quote_dropped

We dropped your quote for a reason you can fix (quotes channel)

We send this only when you can fix the cause. We don’t tell you when you lose on price.

{
  "event": "quote_dropped",
  "data": {
    "quote_id": "0193abcd-0000-7000-8000-00000000000a",
    "rfq_id": "0193abcd-0000-7000-8000-000000000001",
    "pricer_trader_id": "0193abcd-0000-7000-8000-0000000000ff",
    "reason": "below_min_wager",
    "min_wager": "15"
  },
  "timestamp": "2026-01-01T00:00:03.001Z"
}

string

required

"quote_dropped".

ISO-8601 string

required

When we emitted the frame.

UUID string

required

Our ID for your quote.

UUID string

required

The round.

UUID string

required

Your pricer.

string

required

below_min_wager, unbacked, or own_rfq. The first two add one field with the number you must beat.

`reason`	Extra field	Means
`below_min_wager`	`min_wager`	Your `max_wager` is below the round’s minimum stake
`unbacked`	`required_collateral`	Your free balance doesn’t cover the collateral
`own_rfq`	none	You requested this round, so you can’t fill it

The round’s minimum stake is the taker’s minimum or ours, whichever is higher.

Acks

An ack confirms that we handled your message.

subscribed

The subscription is active

Answers your subscribe.

{
  "event": "subscribed",
  "data": {
    "channel": "rfq"
  },
  "timestamp": "2026-01-01T00:00:00.123Z"
}

string

required

"subscribed".

ISO-8601 string

required

When we emitted the frame.

string

required

"rfq" or "quotes".

unsubscribed

The subscription is removed

Answers your unsubscribe.

{
  "event": "unsubscribed",
  "data": {
    "channel": "quotes"
  },
  "timestamp": "2026-01-01T00:00:00.123Z"
}

string

required

"unsubscribed".

ISO-8601 string

required

When we emitted the frame.

string

required

"rfq" or "quotes".

quote_submitted

Your quote entered the auction

Answers your create_quote.

{
  "event": "quote_submitted",
  "data": {
    "rfq_id": "0193abcd-0000-7000-8000-000000000001"
  },
  "timestamp": "2026-01-01T00:00:01.500Z"
}

string

required

"quote_submitted".

ISO-8601 string

required

When we emitted the frame.

UUID string

required

The round your message named.

quote_superseded

Your first quote stands. We dropped this one

Answers your create_quote.

{
  "event": "quote_superseded",
  "data": {
    "rfq_id": "0193abcd-0000-7000-8000-000000000001"
  },
  "timestamp": "2026-01-01T00:00:01.800Z"
}

string

required

"quote_superseded".

ISO-8601 string

required

When we emitted the frame.

UUID string

required

The round your message named.

quote_declined

We recorded your pass

Answers your decline.

{
  "event": "quote_declined",
  "data": {
    "rfq_id": "0193abcd-0000-7000-8000-000000000001"
  },
  "timestamp": "2026-01-01T00:00:01.500Z"
}

string

required

"quote_declined".

ISO-8601 string

required

When we emitted the frame.

UUID string

required

The round your message named.

confirm_recorded

We recorded your last-look answer

Answers your confirm.

{
  "event": "confirm_recorded",
  "data": {
    "rfq_id": "0193abcd-0000-7000-8000-000000000001",
    "quote_id": "0193abcd-0000-7000-8000-00000000000a"
  },
  "timestamp": "2026-01-01T00:00:05.400Z"
}

string

required

"confirm_recorded".

ISO-8601 string

required

When we emitted the frame.

UUID string

required

The round your message named.

UUID string

required

The quote your answer decided.

Errors

We answer a message we can’t handle with an error frame.

error

Your message failed

{
  "event": "error",
  "data": {
    "code": "RFQ_CLOSED",
    "message": "The quote round has already closed.",
    "rfq_id": "0193abcd-0000-7000-8000-000000000001"
  },
  "timestamp": "2026-01-01T00:00:03.100Z"
}

string

required

"error".

ISO-8601 string

required

When we emitted the frame.

string

required

A stable code. Match on this, not on message.

string

required

A human-readable description.

string

Reserved for the channel a failed message named. We don’t send it today.

UUID string

The round the failed message named. We leave it out when we can’t parse your message.

Code	Cause
`MALFORMED_REQUEST`	Bad JSON, an unknown `event`, a wrong `data` shape, or a binary frame
`INVALID_QUOTE`	A quote term is out of range. `message` names the term
`RFQ_CLOSED`	The auction already closed, so we dropped the quote
`RFQ_UNKNOWN`	We hold no round for that `rfq_id`, so we dropped the quote. Either the round never opened, or it closed more than a minute ago. A quote that arrives within a minute of the close gets `RFQ_CLOSED` instead
`FORBIDDEN`	You have no active pricer registration, or you’re restricted or locked out
`RATE_LIMITED`	Too many actions. Retry later
`NO_CONFIRM_WINDOW`	No last look is open for that quote, so we dropped the answer
`CONFIRM_ALREADY_DECIDED`	The last look already has an answer, so we dropped this one
`INTERNAL`	We failed to process the message

An error never closes the connection. Handle it and keep trading. Don’t reconnect because of an error. We check that you may quote on every action, not only when you connect. If we remove or restrict your pricer, you keep the connection. Your next create_quote, decline, or confirm gets FORBIDDEN.

Timing and limits

Limit	Value	When you pass it
Auction	3 seconds	`RFQ_CLOSED`, and we drop the quote
Last look	1 second	We reject the trade
Server ping	Every 15 s	A missed Pong closes the connection
Actions per trader	6000 per 60 seconds	`RATE_LIMITED`
Outbound queue	256 frames per connection	We drop event frames
`price`	0.001 to 0.999, after rounding	`INVALID_QUOTE`
`max_wager`	Above zero	`INVALID_QUOTE`
`quote_id`	256 bytes	`INVALID_QUOTE`

Actions are create_quote and decline. confirm is exempt from the rate limit. We drop only event frames when your queue is full. We never drop acks or errors.

Keep the connection alive

We send a WebSocket Ping every 15 s. Answer with a Pong. Most clients do this for you. If no Pong arrives before our next Ping, we close the connection. There’s no JSON ping message and no idle timeout. A connection that answers every Ping stays open.

Reconnect

Subscribe again after every reconnect. Subscriptions belong to the connection, so a new one gets no events until you subscribe.

We don’t replay or backfill. A new connection starts at the live edge, so you lose anything we sent while you were away. Get missed executions from the executions listing. We close a connection without a status code, so don’t read meaning into the close frame. Reconnect with backoff, then subscribe again. If you read too slowly, we drop event frames instead of waiting for you. Read promptly, or you’ll miss quote rounds.

Use webhooks and the socket together

A webhook and the socket are independent. You can register a webhookUrl, connect the socket, or do both.

Setup	Rounds arrive on	Confirms arrive on
Webhook only	`{webhookUrl}/quote`	`{webhookUrl}/confirm`
Socket only	The socket	The socket
Both	Both	The leg that carried the winning quote

With both, each round reaches you twice. Your first quote wins, and we drop the other. If the dropped quote came over the socket, we ack it with quote_superseded. A round your webhook won is confirmed over HTTP. A round your socket won arrives as quote_accepted. Handle confirms on both legs, or run only one. To make the socket your only path, leave out webhookUrl on your first registration. On an existing registration, leaving it out keeps your webhook. See Registration.

Start

Concepts

Authentication

Accounts

Streaming

Troubleshooting

Fees and programs

RFQ

Exchange Data

Connect

Register a pricer before you connect

Why the upgrade fails

Channels

How a round works

Message format

Messages you send

Events we send

Acks

Errors

Timing and limits

Keep the connection alive

Reconnect

Use webhooks and the socket together

​Connect

​Register a pricer before you connect

​Why the upgrade fails

​Channels

​How a round works

​Message format

​ Messages you send

​ Events we send

​ Acks

​Errors

​Timing and limits

​Keep the connection alive

​Reconnect

​Use webhooks and the socket together

Connect

Register a pricer before you connect

Why the upgrade fails

Channels

How a round works

Message format

Messages you send

Events we send

Acks

Errors

Timing and limits

Keep the connection alive

Reconnect

Use webhooks and the socket together