Finery Markets has announced the launch of FM Liquidity Match – an OTC as a Service for digital assets.
The OTC offering is being provided in partnership with Floating Point Group, which will become the inaugural user.
FM Liquidity Match is a proprietary matching engine that enables market players to launch a fully electronic OTC trading business and manage clients through the entire trade cycle.
Konstantin Shulga, CEO and co-founder of Finery Markets, said they believe this is the future of institutional crypto trading, and they have been working hard to re-imagine institutional trading in the post-FTX world.
The company explains that 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.
The subaccount 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.
Kevin March, co-founder of Floating Point Group, said it is natural for a new asset class to go through a process of “defragmentation.” He added that Floating Point Group’s clients will now have deeper liquidity than ever before without the risk presented by digital asset exchanges.
“We are excited to utilize our expertise in quantitative trading and technology to offer top-notch liquidity to FPG’s clients,” said Boris Sebosik, the Head of OTC Trading at Wincent. “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.”