diff --git a/docs/observability.asciidoc b/docs/observability.asciidoc
index 26a3be83a..2d4a36668 100644
--- a/docs/observability.asciidoc
+++ b/docs/observability.asciidoc
@@ -49,6 +49,15 @@ client.on('response', (err, result) => {
 The client emits the following events:
 [cols=2*]
 |===
+|`serialization`
+a|Emitted before starting serialization and compression. If you want to measure this phase duration, you should measure the time elapsed between this event and `request`.
+[source,js]
+----
+client.on('serialization', (err, result) => {
+  console.log(err, result)
+})
+----
+
 |`request`
 a|Emitted before sending the actual request to {es} _(emitted multiple times in case of retries)_.
 [source,js]
@@ -58,6 +67,15 @@ client.on('request', (err, result) => {
 })
 ----
 
+|`deserialization`
+a|Emitted before starting deserialization and decompression. If you want to measure this phase duration, you should measure the time elapsed between this event and `response`. _(This event might not be emitted in certain situations)_.
+[source,js]
+----
+client.on('deserialization', (err, result) => {
+  console.log(err, result)
+})
+----
+
 |`response`
 a|Emitted once {es} response has been received and parsed.
 [source,js]
@@ -87,7 +105,7 @@ client.on('resurrect', (err, result) => {
 
 |===
 
-The values of `result` in `request`, `response` and `sniff` will be:
+The values of `result` in `serialization`, `request`, `deserialization`, `response` and `sniff` will be:
 
 [source,ts]
 ----
@@ -127,6 +145,29 @@ request: {
 };
 ----
 
+[discrete]
+==== Events order
+
+The event order is described in the following graph, in some edge cases, the order is not guaranteed.
+You can find in https://github.com/elastic/elasticsearch-js/blob/master/test/acceptance/events-order.test.js[`test/acceptance/events-order.test.js`] how the order changes based on the situation.
+
+[source]
+----
+serialization
+  │
+  │ (serialization and compression happens between those two events)
+  │
+  └─▶ request
+        │
+        │ (actual time spent over the wire)
+        │
+        └─▶ deserialization
+              │
+              │ (deserialization and decompression happens between those two events)
+              │
+              └─▶ response
+----
+
 
 [discrete]
 === Correlation id
diff --git a/index.d.ts b/index.d.ts
index 47155a004..4f309d6aa 100644
--- a/index.d.ts
+++ b/index.d.ts
@@ -2573,8 +2573,10 @@ declare class Client {
 }
 
 declare const events: {
-  RESPONSE: string;
+  SERIALIZATION: string;
   REQUEST: string;
+  DESERIALIZATION: string;
+  RESPONSE: string;
   SNIFF: string;
   RESURRECT: string;
 };
diff --git a/index.js b/index.js
index c3c278efc..e4d1ae704 100644
--- a/index.js
+++ b/index.js
@@ -314,7 +314,9 @@ const events = {
   RESPONSE: 'response',
   REQUEST: 'request',
   SNIFF: 'sniff',
-  RESURRECT: 'resurrect'
+  RESURRECT: 'resurrect',
+  SERIALIZATION: 'serialization',
+  DESERIALIZATION: 'deserialization'
 }
 
 module.exports = {
diff --git a/lib/Transport.js b/lib/Transport.js
index 6b0e17efc..50b75ccd5 100644
--- a/lib/Transport.js
+++ b/lib/Transport.js
@@ -268,6 +268,8 @@ class Transport {
       if (!isCompressed) {
         response.setEncoding('utf8')
       }
+
+      this.emit('deserialization', null, result)
       response.on('data', onData)
       response.on('error', onEnd)
       response.on('end', onEnd)
@@ -340,6 +342,7 @@ class Transport {
       }
     }
 
+    this.emit('serialization', null, result)
     const headers = Object.assign({}, this.headers, lowerCaseHeaders(options.headers))
 
     if (options.opaqueId !== undefined) {
@@ -354,6 +357,7 @@ class Transport {
         try {
           params.body = this.serializer.serialize(params.body)
         } catch (err) {
+          this.emit('request', err, result)
           process.nextTick(callback, err, result)
           return transportReturn
         }
@@ -369,6 +373,7 @@ class Transport {
         try {
           params.body = this.serializer.ndserialize(params.bulkBody)
         } catch (err) {
+          this.emit('request', err, result)
           process.nextTick(callback, err, result)
           return transportReturn
         }
@@ -408,6 +413,7 @@ class Transport {
         gzip(params.body, (err, buffer) => {
           /* istanbul ignore next */
           if (err) {
+            this.emit('request', err, result)
             return callback(err, result)
           }
           params.headers['content-encoding'] = compression
diff --git a/test/acceptance/events-order.test.js b/test/acceptance/events-order.test.js
new file mode 100644
index 000000000..b4a9ff6b3
--- /dev/null
+++ b/test/acceptance/events-order.test.js
@@ -0,0 +1,462 @@
+/*
+ * Licensed to Elasticsearch B.V. under one or more contributor
+ * license agreements. See the NOTICE file distributed with
+ * this work for additional information regarding copyright
+ * ownership. Elasticsearch B.V. licenses this file to you under
+ * the Apache License, Version 2.0 (the "License"); you may
+ * not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ *    http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing,
+ * software distributed under the License is distributed on an
+ * "AS IS" BASIS, WITHOUT WARRANTIES OR CONDITIONS OF ANY
+ * KIND, either express or implied.  See the License for the
+ * specific language governing permissions and limitations
+ * under the License.
+ */
+
+'use strict'
+
+const { test } = require('tap')
+const intoStream = require('into-stream')
+const { Client, Connection, events } = require('../../index')
+const {
+  TimeoutError,
+  ConnectionError,
+  ResponseError,
+  RequestAbortedError,
+  SerializationError,
+  DeserializationError
+} = require('../../lib/errors')
+const {
+  buildServer,
+  connection: {
+    MockConnection,
+    MockConnectionError,
+    MockConnectionTimeout,
+    buildMockConnection
+  }
+} = require('../utils')
+
+test('No errors', t => {
+  t.plan(10)
+
+  const client = new Client({
+    node: 'http://localhost:9200',
+    Connection: MockConnection
+  })
+
+  const order = [
+    events.SERIALIZATION,
+    events.REQUEST,
+    events.DESERIALIZATION,
+    events.RESPONSE
+  ]
+
+  client.on(events.SERIALIZATION, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.SERIALIZATION)
+  })
+
+  client.on(events.REQUEST, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.REQUEST)
+  })
+
+  client.on(events.DESERIALIZATION, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.DESERIALIZATION)
+  })
+
+  client.on(events.RESPONSE, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.RESPONSE)
+  })
+
+  client.info((err, result) => {
+    t.error(err)
+    t.strictEqual(order.length, 0)
+  })
+})
+
+test('Connection error', t => {
+  t.plan(10)
+
+  const client = new Client({
+    node: 'http://localhost:9200',
+    Connection: MockConnectionError,
+    maxRetries: 1
+  })
+
+  const order = [
+    events.SERIALIZATION,
+    events.REQUEST,
+    events.REQUEST,
+    events.RESPONSE
+  ]
+
+  client.on(events.SERIALIZATION, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.SERIALIZATION)
+  })
+
+  client.on(events.REQUEST, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.REQUEST)
+  })
+
+  client.on(events.DESERIALIZATION, (_err, request) => {
+    t.fail('Should not be called')
+  })
+
+  client.on(events.RESPONSE, (err, request) => {
+    t.ok(err instanceof ConnectionError)
+    t.strictEqual(order.shift(), events.RESPONSE)
+  })
+
+  client.info((err, result) => {
+    t.ok(err instanceof ConnectionError)
+    t.strictEqual(order.length, 0)
+  })
+})
+
+test('TimeoutError error', t => {
+  t.plan(10)
+
+  const client = new Client({
+    node: 'http://localhost:9200',
+    Connection: MockConnectionTimeout,
+    maxRetries: 1
+  })
+
+  const order = [
+    events.SERIALIZATION,
+    events.REQUEST,
+    events.REQUEST,
+    events.RESPONSE
+  ]
+
+  client.on(events.SERIALIZATION, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.SERIALIZATION)
+  })
+
+  client.on(events.REQUEST, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.REQUEST)
+  })
+
+  client.on(events.DESERIALIZATION, (_err, request) => {
+    t.fail('Should not be called')
+  })
+
+  client.on(events.RESPONSE, (err, request) => {
+    t.ok(err instanceof TimeoutError)
+    t.strictEqual(order.shift(), events.RESPONSE)
+  })
+
+  client.info((err, result) => {
+    t.ok(err instanceof TimeoutError)
+    t.strictEqual(order.length, 0)
+  })
+})
+
+test('RequestAbortedError error', t => {
+  t.plan(8)
+
+  const client = new Client({
+    node: 'http://localhost:9200',
+    Connection: MockConnectionTimeout,
+    maxRetries: 1
+  })
+
+  const order = [
+    events.SERIALIZATION,
+    events.REQUEST,
+    events.RESPONSE
+  ]
+
+  client.on(events.SERIALIZATION, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.SERIALIZATION)
+  })
+
+  client.on(events.REQUEST, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.REQUEST)
+  })
+
+  client.on(events.DESERIALIZATION, (_err, request) => {
+    t.fail('Should not be called')
+  })
+
+  client.on(events.RESPONSE, (err, request) => {
+    t.ok(err instanceof RequestAbortedError)
+    t.strictEqual(order.shift(), events.RESPONSE)
+  })
+
+  const request = client.info((err, result) => {
+    t.ok(err instanceof RequestAbortedError)
+    t.strictEqual(order.length, 0)
+  })
+
+  request.abort()
+})
+
+test('ResponseError error (no retry)', t => {
+  t.plan(10)
+
+  const MockConnection = buildMockConnection({
+    onRequest (params) {
+      return {
+        statusCode: 400,
+        body: { hello: 'world' }
+      }
+    }
+  })
+
+  const client = new Client({
+    node: 'http://localhost:9200',
+    Connection: MockConnection,
+    maxRetries: 1
+  })
+
+  const order = [
+    events.SERIALIZATION,
+    events.REQUEST,
+    events.DESERIALIZATION,
+    events.RESPONSE
+  ]
+
+  client.on(events.SERIALIZATION, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.SERIALIZATION)
+  })
+
+  client.on(events.REQUEST, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.REQUEST)
+  })
+
+  client.on(events.DESERIALIZATION, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.DESERIALIZATION)
+  })
+
+  client.on(events.RESPONSE, (err, request) => {
+    t.ok(err instanceof ResponseError)
+    t.strictEqual(order.shift(), events.RESPONSE)
+  })
+
+  client.info((err, result) => {
+    t.ok(err instanceof ResponseError)
+    t.strictEqual(order.length, 0)
+  })
+})
+
+test('ResponseError error (with retry)', t => {
+  t.plan(14)
+
+  const MockConnection = buildMockConnection({
+    onRequest (params) {
+      return {
+        statusCode: 504,
+        body: { hello: 'world' }
+      }
+    }
+  })
+
+  const client = new Client({
+    node: 'http://localhost:9200',
+    Connection: MockConnection,
+    maxRetries: 1
+  })
+
+  const order = [
+    events.SERIALIZATION,
+    events.REQUEST,
+    events.DESERIALIZATION,
+    events.REQUEST,
+    events.DESERIALIZATION,
+    events.RESPONSE
+  ]
+
+  client.on(events.SERIALIZATION, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.SERIALIZATION)
+  })
+
+  client.on(events.REQUEST, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.REQUEST)
+  })
+
+  client.on(events.DESERIALIZATION, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.DESERIALIZATION)
+  })
+
+  client.on(events.RESPONSE, (err, request) => {
+    t.ok(err instanceof ResponseError)
+    t.strictEqual(order.shift(), events.RESPONSE)
+  })
+
+  client.info((err, result) => {
+    t.ok(err instanceof ResponseError)
+    t.strictEqual(order.length, 0)
+  })
+})
+
+test('Serialization Error', t => {
+  t.plan(6)
+
+  const client = new Client({
+    node: 'http://localhost:9200',
+    Connection: MockConnection,
+    maxRetries: 1
+  })
+
+  const order = [
+    events.SERIALIZATION,
+    events.REQUEST
+  ]
+
+  client.on(events.SERIALIZATION, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.SERIALIZATION)
+  })
+
+  client.on(events.REQUEST, (err, request) => {
+    t.ok(err instanceof SerializationError)
+    t.strictEqual(order.shift(), events.REQUEST)
+  })
+
+  client.on(events.DESERIALIZATION, (_err, request) => {
+    t.fail('Should not be called')
+  })
+
+  client.on(events.RESPONSE, (_err, request) => {
+    t.fail('Should not be called')
+  })
+
+  const body = {}
+  body.o = body
+  client.index({ index: 'test', body }, (err, result) => {
+    t.ok(err instanceof SerializationError)
+    t.strictEqual(order.length, 0)
+  })
+})
+
+test('Deserialization Error', t => {
+  t.plan(10)
+
+  class MockConnection extends Connection {
+    request (params, callback) {
+      const body = '{"hello":"wor'
+      const stream = intoStream(body)
+      stream.statusCode = 200
+      stream.headers = {
+        'content-type': 'application/json;utf=8',
+        'content-length': body.length,
+        connection: 'keep-alive',
+        date: new Date().toISOString()
+      }
+      stream.on('close', () => t.pass('Stream destroyed'))
+      process.nextTick(callback, null, stream)
+      return { abort () {} }
+    }
+  }
+
+  const client = new Client({
+    node: 'http://localhost:9200',
+    Connection: MockConnection,
+    maxRetries: 1
+  })
+
+  const order = [
+    events.SERIALIZATION,
+    events.REQUEST,
+    events.DESERIALIZATION,
+    events.RESPONSE
+  ]
+
+  client.on(events.SERIALIZATION, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.SERIALIZATION)
+  })
+
+  client.on(events.REQUEST, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.REQUEST)
+  })
+
+  client.on(events.DESERIALIZATION, (err, request) => {
+    t.error(err)
+    t.strictEqual(order.shift(), events.DESERIALIZATION)
+  })
+
+  client.on(events.RESPONSE, (err, request) => {
+    t.ok(err instanceof DeserializationError)
+    t.strictEqual(order.shift(), events.RESPONSE)
+  })
+
+  client.info((err, result) => {
+    t.ok(err instanceof DeserializationError)
+    t.strictEqual(order.length, 0)
+  })
+})
+
+test('Socket destroyed while reading the body', t => {
+  t.plan(14)
+
+  function handler (req, res) {
+    const body = JSON.stringify({ hello: 'world' })
+    res.setHeader('Content-Type', 'application/json;utf=8')
+    res.setHeader('Content-Length', body.length + '')
+    res.write(body.slice(0, -5))
+    setTimeout(() => {
+      res.socket.destroy()
+    }, 500)
+  }
+
+  buildServer(handler, ({ port }, server) => {
+    const client = new Client({ node: `http://localhost:${port}`, maxRetries: 1 })
+
+    const order = [
+      events.SERIALIZATION,
+      events.REQUEST,
+      events.DESERIALIZATION,
+      events.REQUEST,
+      events.DESERIALIZATION,
+      events.RESPONSE
+    ]
+
+    client.on(events.SERIALIZATION, (err, request) => {
+      t.error(err)
+      t.strictEqual(order.shift(), events.SERIALIZATION)
+    })
+
+    client.on(events.REQUEST, (err, request) => {
+      t.error(err)
+      t.strictEqual(order.shift(), events.REQUEST)
+    })
+
+    client.on(events.DESERIALIZATION, (err, request) => {
+      t.error(err)
+      t.strictEqual(order.shift(), events.DESERIALIZATION)
+    })
+
+    client.on(events.RESPONSE, (err, request) => {
+      t.ok(err instanceof ConnectionError)
+      t.strictEqual(order.shift(), events.RESPONSE)
+    })
+
+    client.info((err, result) => {
+      t.ok(err instanceof ConnectionError)
+      t.strictEqual(order.length, 0)
+      server.stop()
+    })
+  })
+})
diff --git a/test/unit/events.test.js b/test/unit/events.test.js
index 4602c0ed7..2842e7e46 100644
--- a/test/unit/events.test.js
+++ b/test/unit/events.test.js
@@ -23,7 +23,12 @@ const { test } = require('tap')
 const semver = require('semver')
 const { Client, events } = require('../../index')
 const { TimeoutError } = require('../../lib/errors')
-const { connection: { MockConnection, MockConnectionTimeout } } = require('../utils')
+const {
+  connection: {
+    MockConnection,
+    MockConnectionTimeout
+  }
+} = require('../utils')
 
 test('Should emit a request event when a request is performed', t => {
   t.plan(3)