Finery Markets, a provider of over-the-counter (OTC) trading solutions for institutions and crypto businesses, has launched FM Liquidity Match, which it says is “the first-ever electronic OTC-as-a-service for digital assets”. Floating Point Group will become its first user.
FM Liquidity Match is a ready-to-deploy trading solution with a proprietary matching engine that enables market players to launch a fully electronic OTC trading business and manage client relations throughout the entire trade cycle.
Konstantin Shulga, CEO and co-founder of Finery Markets, says: “We believe that our platform is the future of institutional crypto trading, and we’re excited to be a part of it.
“Our team has been working hard to reimagine the way institutional crypto trading operates in the post-FTX era. Through our FM Liquidity Match, market professionals can provide their customers with a ‘no last look’ trading model, ensuring the best execution.
“Thanks to the proprietary matching engine, market participants can even create their own ECN and customized liquidity pools, internalize customer flows, or simply resell global OTC liquidity to their end-customers.”
FM Liquidity Match operates through a sub-account model with a master account created by a broker, prime-broker, OTC-desk, or liquidity provider, which then creates multiple sub-accounts to serve its clients via GUI or API.
Each sub-account functions as a separate trading account with its own balance, positions, and trading history. It operates within specific risk limits and settles with the master account. The master account manages user access, risk limits, position rollover, mark-ups and spreads across all sub-accounts.
The solution, which is available through a GUI or API (FIX 4.4, REST, or WebSocket), boasts an array of cutting-edge features that will elevate the trading experience to a whole new level.
These features include:
- A seamless electronic onboarding process
- A role-based access system
- Pre-trade risk management controls and account limits
- Post-trade settlement and travel-rule compliant reporting
- Firm liquidity across 12 liquidity providers with “no last look” execution
Kevin March, cofounder of Floating Point Group, says: “With Finery Markets’ new FM Liquidity Match solution, Floating Point Group’s clients have deeper liquidity than ever before without the risk presented by digital asset exchanges.
“With fully electronic OTC capabilities, we make a small step in the transition to a more mature market.”
Michael Rabkin, global head of business development at DV Chain, says: “It’s natural for newer asset classes to undergo a process of defragmentation facilitated by market structure elements like prime-brokerage services.
Boris Sebosik, head of OTC trading at Wincent, says: “We’re pleased to be among the first liquidity providers to collaborate with FPG in their capacity as a prime-broker for digital assets, enabling their clients to tap into our world class liquidity.”
“We are excited to utilize our expertise in quantitative trading and technology to offer top-notch liquidity to FPG’s clients.
“Providing liquidity for prime-brokers in the crypto industry will enable us to access a wider range of clients and markets, further increasing our competitive position.”
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