“As part of their role as a prime broker via FM Liquidity Match, LTP now provides its customers with the industry’s first OTC trading infrastructure that offers ‘no last look’ execution for liquidity takers, along with toxic flow protection for market makers.”
Finery Markets has welcomed LTP as the new Liquidity Provider on its FM Liquidity Match system, an electronic OTC (Over-The-Counter) trading infrastructure for institutional clients and crypto businesses.
This platform facilitates the creation of a master account by brokers, prime brokers, OTC-desks, or liquidity providers, which can then establish multiple sub-accounts to serve their clientele. Each sub-account operates as an individual trading account, complete with its own balance, positions, and trading history, ensuring that it operates within specified risk limits and settles with the master account. The master account oversees all operations, including user access, risk, and position management.
FM Liquidity Match streamlines and automates access to liquidity for digital assets, making it a pioneering solution in the electronic OTC-as-a-service domain. This platform is touted as the future of institutional crypto trading, designed to navigate the post-FTX era with innovations like a “no last look” trading model and a proprietary matching engine that supports the creation of customized ECNs (Electronic Communication Networks) and liquidity pools, or the reselling of global OTC liquidity.
LPT is first APAC prime broker on FM Liquidity Match
Supporting a variety of interfaces, including a Graphical User Interface (GUI) or API options (FIX 4.4, REST, WebSocket), the platform introduces numerous innovative features including anonymous trading with a firm liquidity pool without “last look”, toxic flow protection for market makers, an electronic onboarding process, a role-based access system, pre-trade risk management controls, customizable risk limits, advanced spread management, flexible post-trade settlement, and compliant reporting.
LTP will be the first prime broker in the Asia-Pacific (APAC) region to integrate with Finery Markets’ FM Liquidity Match.
Also known as LiquidityTech Protocol, the firm serves as a leading prime broker in the digital assets domain, facilitating a crucial link between centralized and decentralized exchanges. It boasts a clientele of over 300 institutional entities, managing an annual trading volume exceeding $300 billion, the company claims. The firm offers a wide array of professional services designed to meet the complex needs of its clients in the digital asset space.
‘No last look’ and toxic flow protection
Konstantin Shulga, co-founder and CEO of Finery Markets, said: “We are excited to announce that we have partnered with LTP, a leading prime broker for digital assets. This collaboration strengthens the presence of both Finery Markets and LTP in the APAC region, providing increased opportunities for institutional market players. As part of their role as a prime broker via FM Liquidity Match, LTP now provides its customers with the industry’s first OTC trading infrastructure that offers ‘no last look’ execution for liquidity takers, along with toxic flow protection for market makers.”
Jack Yang, Founder and CEO at LTP, commented: “We are thrilled to collaborate with Finery Markets, thereby strengthening our network through OTC prime brokerage services. Our goal is to provide a seamless and comprehensive trading experience for institutional clients, backed by our strong tech infrastructure and compliance commitment. We view Finery Markets’ unique services as a valuable enhancement to our already robust offerings.”
Michael Rabkin, head of global business development at DV Chain added: “We’re excited to be partnering up with Finery Markets and LTP as a launch partner, providing competitive rates to a diverse array of institutional clients via FM Liquidity Match. This strategic alliance opens up new opportunities for trading within a large pool of institutional clients in the APAC region, allowing us to expand our footprint in the crypto markets.”
Boris Sebosik, Head of OTC at Wincent, stated: “The partnership between Finery Markets and LTP provides an opportunity to enhance our expertise in liquidity provision by expanding our network of institutional counterparties. We’ve observed an increasing trend towards a more complex prime-brokerage structure in the crypto sphere, a notion that’s long been recognized in traditional finance. By integrating a prime brokerage model through FM Liquidity Match into our global offerings, we can strengthen our position as a leading quantitative liquidity providers.”
