diff --git a/types/src/order.rs b/types/src/order.rs
index 90d7329..9bf0a2e 100644
--- a/types/src/order.rs
+++ b/types/src/order.rs
@@ -213,6 +213,21 @@ pub enum OrderStatus {
     TriggerPending,
 }
 
+#[derive(
+    Debug, Display, Clone, Copy, Serialize, Deserialize, Default, EnumString, PartialEq, Eq, Hash,
+)]
+#[strum(serialize_all = "PascalCase")]
+#[serde(rename_all = "PascalCase")]
+pub enum SystemOrderType {
+    #[default]
+    LiquidatePositionOnBook,
+    LiquidatePositionOnBackstop,
+    LiquidatePositionOnAdl,
+    CollateralConversion,
+    FutureExpiry,
+    OrderBookClosed,
+}
+
 #[derive(
     Debug, Display, Clone, Copy, Serialize, Deserialize, Default, EnumString, PartialEq, Eq, Hash,
 )]
diff --git a/types/src/rfq.rs b/types/src/rfq.rs
index 2d99a41..fbe12ed 100644
--- a/types/src/rfq.rs
+++ b/types/src/rfq.rs
@@ -2,7 +2,7 @@ use rust_decimal::Decimal;
 use serde::{Deserialize, Serialize};
 use strum::{Display, EnumString};
 
-use crate::order::{OrderStatus, Side};
+use crate::order::{OrderStatus, Side, SystemOrderType};
 
 #[derive(
     Debug, Display, Clone, Copy, Serialize, Deserialize, Default, EnumString, PartialEq, Eq, Hash,
@@ -106,6 +106,8 @@ pub enum RequestForQuoteUpdate {
         order_status: OrderStatus,
         #[serde(rename = "T")]
         timestamp: i64,
+        #[serde(rename = "o", default)]
+        system_order_type: Option<SystemOrderType>,
     },
     RfqRefreshed {
         #[serde(rename = "E")]
@@ -130,6 +132,8 @@ pub enum RequestForQuoteUpdate {
         order_status: OrderStatus,
         #[serde(rename = "T")]
         timestamp: i64,
+        #[serde(rename = "o", default)]
+        system_order_type: Option<SystemOrderType>,
     },
     RfqAccepted {
         #[serde(rename = "E")]
@@ -154,6 +158,8 @@ pub enum RequestForQuoteUpdate {
         order_status: OrderStatus,
         #[serde(rename = "T")]
         timestamp: i64,
+        #[serde(rename = "o", default)]
+        system_order_type: Option<SystemOrderType>,
     },
     RfqCancelled {
         #[serde(rename = "E")]
@@ -178,6 +184,8 @@ pub enum RequestForQuoteUpdate {
         order_status: OrderStatus,
         #[serde(rename = "T")]
         timestamp: i64,
+        #[serde(rename = "o", default)]
+        system_order_type: Option<SystemOrderType>,
     },
     QuoteAccepted {
         #[serde(rename = "E")]
@@ -262,6 +270,8 @@ pub enum RequestForQuoteUpdate {
         order_status: OrderStatus,
         #[serde(rename = "T")]
         timestamp: i64,
+        #[serde(rename = "o", default)]
+        system_order_type: Option<SystemOrderType>,
     },
 }
 
@@ -305,6 +315,8 @@ pub struct RequestForQuote {
     pub status: OrderStatus,
     pub execution_mode: RfqExecutionMode,
     pub created_at: i64,
+    #[serde(default)]
+    pub system_order_type: Option<SystemOrderType>,
 }
 
 impl QuotePayload {
@@ -346,3 +358,39 @@ impl QuotePayload {
         self
     }
 }
+
+#[cfg(test)]
+mod tests {
+    use super::*;
+
+    #[test]
+    fn rfq_active_without_system_order_type() {
+        let data = r#"{"e":"rfqActive","E":1234567890,"R":123,"s":"BTC_USDC","q":"1.5","w":1234567890,"W":1234567899,"X":"New","T":1234567890}"#;
+        let update: RequestForQuoteUpdate = serde_json::from_str(data).unwrap();
+        match update {
+            RequestForQuoteUpdate::RfqActive {
+                system_order_type, ..
+            } => {
+                assert!(system_order_type.is_none());
+            }
+            _ => panic!("Expected RfqActive"),
+        }
+    }
+
+    #[test]
+    fn rfq_active_with_system_order_type() {
+        let data = r#"{"e":"rfqActive","E":1234567890,"R":123,"s":"BTC_USDC","q":"1.5","w":1234567890,"W":1234567899,"X":"New","T":1234567890,"o":"CollateralConversion"}"#;
+        let update: RequestForQuoteUpdate = serde_json::from_str(data).unwrap();
+        match update {
+            RequestForQuoteUpdate::RfqActive {
+                system_order_type, ..
+            } => {
+                assert_eq!(
+                    system_order_type,
+                    Some(SystemOrderType::CollateralConversion)
+                );
+            }
+            _ => panic!("Expected RfqActive"),
+        }
+    }
+}