The RFQ Request is used by liquidity providers to indicate to the market which instruments they're interested in receiving Quote Request <35=R>s for. It can be used to register interest in receiving quote requests for a single instrument or for multiple instruments.

In tradeable and restricted tradeable quoting markets - Quote Request <35=R>s are issued by counterparties interested in ascertaining the market for an instrument. Quote Request <35=R>s are then distributed by the market to liquidity providers who make markets in the instrument.