Finery Markets, a provider of over-the-counter (OTC) trading solutions, has launched its newest product offering for the digital asset industry, FM Liquidity Match.
FM Liquidity Match is designed to be a comprehensive solution that enables market players to launch a fully electronic OTC trading business and manage customer relationships throughout the entire trading cycle. The platform comes with a proprietary matching engine and operates via a sub-account model, allowing for easy customization and management of risk limits, positions, and trading history.
The product, which serves institutions and crypto businessIt is said to be the first electronic OTC as a service that allows users to access liquidity of digital assets electronically and in an automated way.
FM Liquidity Match has already joined Floating Point Group, a provider of trading infrastructure for digital assets, as its first user.
According to the press release shared with FinanceFeeds, the new product improves the efficiency and accessibility of OTC trading for any business looking to take advantage of digital assets. It provides an expansive set of powerful tools to help further institutionalize the crypto market.
Under the hood, FM Liquidity Match uses a sub-account model to provide a unique OTC trading experience for digital asset providers. Specifically, each broker, master broker, OTC desk, or liquidity provider creates a master account, which then opens multiple sub-accounts to serve different segments of their client base via GUI or API.
finery markets details that each sub-account operates as a separate terminal with its own balance, positions and transaction history, but all within specific risk limits and settlement requirements with the main account. The latter controls all trading parameters, including user access, risk limits, position rollover, margins and spreads on all sub-accounts.
Accessible through a graphical user interface or an application programming interface (such as FIX 4.4, REST, or WebSocket), FM Liquidity Match features a variety of notable capabilities. That includes an electronic onboarding process, a role-based access system, and pre-trade risk management controls and account limits. The solution also generates liquidity through 12 liquidity providers with โno last lookโ execution, ensuring best execution, as well as a post-trade settlement system and travel rule compliant reporting.
โWith Finery Markets' new FM Liquidity Match solution, Floating Point Group clients have greater liquidity than ever before without the risk that digital asset exchanges present. With fully electronic OTC capabilities, we take a small step in the transition to a more mature marketplace,โ said Kevin March, co-founder of Floating Point Group.
According Konstantin Shulga, CEO and Co-Founder of Finery Markets: โWe believe our platform is the future of institutional cryptocurrency trading and we are excited to be a part of it. Our team has been hard at work reinventing the way institutional crypto trading operates in the post-FTX era. Through our FM Liquidity Match, market professionals can provide their clients with a โno last lookโ trading model, ensuring best execution. Thanks to the proprietary matching engine, market participants can even create their own ECN and custom liquidity pools, internalize client flows, or simply resell global OTC liquidity to their end clients.โ
