Wintermute completed the first RFQ trade on Finery Markets' crypto ECN platform.
The partnership establishes a hybrid trading model for institutional clients in digital assets sector.
Global
algorithmic trading firm Wintermute has completed its first Request for Quote
(RFQ) trade on Finery Markets' institutional crypto trading platform. The
partnership establishes a hybrid trading model combining traditional order
books with RFQ capabilities for institutional clients
Wintermute Executes First
RFQ Trade on Finery Markets' Crypto ECN Platform
The
execution establishes Finery Markets as the only cryptocurrency-native
Electronic Communication Network (ECN) offering both RFQ and traditional order
book trading mechanisms for institutional clients. This model aims to combine
the transparency of order-driven systems with the liquidity benefits of
quote-driven trading.
Konstantin Shulga, CEO and Co-Founder of Finery Markets
“Wintermute
was a top choice for introducing the RFQ trading method through our ECN,” Konstantin
Shulga, Finery Markets CEO, commented. “With the launch of RFQ, we are
confident that our unique hybrid trading model offers the best of both worlds,
combining the transparency and execution certainty of order-driven systems with
the deep liquidity and minimal market impact characteristic of quote-driven
models.”
RFQ is a
trading process where market participants request price quotes from specific
liquidity providers for a particular financial instrument. The quote is
executable exclusively by the requesting party, creating a direct interaction
between the buyer and seller.
The
partnership comes amid substantial growth in over-the-counter (OTC)
cryptocurrency trading, with Finery Markets reporting an 89% year-over-year
increase in spot transactions during the first nine months of 2024.
Evgeny Gaevoy, CEO and Co-Founder, Wintermute
"By
combining our extensive liquidity solutions across hundreds of digital assets
with Finery’s ECN, we’re well positioned to support market participants in
achieving higher quality trading and more efficient execution,” Wintermute CEO
Evgeny Gaevoy added.
The
collaboration leverages Wintermute's
presence in digital asset markets, where it maintains trading relationships
across more than 60 exchanges and processes billions in daily volume. Since
July, the company is offering more than 350 crypto pairs to traditional finance
thanks
to the integration of oneZero's EcoSystem.
Institutional Crypto
Trading Explodes in 2024
The
institutional over-the-counter (OTC) cryptocurrency market witnessed
substantial growth in the first half of 2024, with total spot transaction
volumes increasing
by 95% year-over-year. A recent report from Finery Markets, which analyzed
two million institutional spot trades, indicates a rising interest in digital
assets among institutional investors. This growth coincides with the recent
approval of crypto-based investment vehicles, such as the successful launch of
a Bitcoin ETF.
Ethereum,
the second-largest cryptocurrency by market cap, saw its trading volumes
increase by 32% in the first half of 2024 compared to the same period in 2023.
Anticipated approvals of Ethereum ETFs are likely to stimulate institutional interest further.
Additionally,
the provider of non-custodial crypto ECN and SaaS trading platforms, announced
a partnership with technology and digital asset liquidity provider Stillman
Digital. This collaboration aims to expand Finery Markets' network of
global liquidity providers and enhance trading options for institutional
clients.
Global
algorithmic trading firm Wintermute has completed its first Request for Quote
(RFQ) trade on Finery Markets' institutional crypto trading platform. The
partnership establishes a hybrid trading model combining traditional order
books with RFQ capabilities for institutional clients
Wintermute Executes First
RFQ Trade on Finery Markets' Crypto ECN Platform
The
execution establishes Finery Markets as the only cryptocurrency-native
Electronic Communication Network (ECN) offering both RFQ and traditional order
book trading mechanisms for institutional clients. This model aims to combine
the transparency of order-driven systems with the liquidity benefits of
quote-driven trading.
Konstantin Shulga, CEO and Co-Founder of Finery Markets
“Wintermute
was a top choice for introducing the RFQ trading method through our ECN,” Konstantin
Shulga, Finery Markets CEO, commented. “With the launch of RFQ, we are
confident that our unique hybrid trading model offers the best of both worlds,
combining the transparency and execution certainty of order-driven systems with
the deep liquidity and minimal market impact characteristic of quote-driven
models.”
RFQ is a
trading process where market participants request price quotes from specific
liquidity providers for a particular financial instrument. The quote is
executable exclusively by the requesting party, creating a direct interaction
between the buyer and seller.
The
partnership comes amid substantial growth in over-the-counter (OTC)
cryptocurrency trading, with Finery Markets reporting an 89% year-over-year
increase in spot transactions during the first nine months of 2024.
Evgeny Gaevoy, CEO and Co-Founder, Wintermute
"By
combining our extensive liquidity solutions across hundreds of digital assets
with Finery’s ECN, we’re well positioned to support market participants in
achieving higher quality trading and more efficient execution,” Wintermute CEO
Evgeny Gaevoy added.
The
collaboration leverages Wintermute's
presence in digital asset markets, where it maintains trading relationships
across more than 60 exchanges and processes billions in daily volume. Since
July, the company is offering more than 350 crypto pairs to traditional finance
thanks
to the integration of oneZero's EcoSystem.
Institutional Crypto
Trading Explodes in 2024
The
institutional over-the-counter (OTC) cryptocurrency market witnessed
substantial growth in the first half of 2024, with total spot transaction
volumes increasing
by 95% year-over-year. A recent report from Finery Markets, which analyzed
two million institutional spot trades, indicates a rising interest in digital
assets among institutional investors. This growth coincides with the recent
approval of crypto-based investment vehicles, such as the successful launch of
a Bitcoin ETF.
Ethereum,
the second-largest cryptocurrency by market cap, saw its trading volumes
increase by 32% in the first half of 2024 compared to the same period in 2023.
Anticipated approvals of Ethereum ETFs are likely to stimulate institutional interest further.
Additionally,
the provider of non-custodial crypto ECN and SaaS trading platforms, announced
a partnership with technology and digital asset liquidity provider Stillman
Digital. This collaboration aims to expand Finery Markets' network of
global liquidity providers and enhance trading options for institutional
clients.
Damian Chmiel is a Senior Analyst & Editor at Finance Magnates with more than 15 years of experience in the CFD and online trading industry. Active as both a trader and journalist since 2010, he focuses on broker coverage, fintech innovation, and regulatory developments across Europe, the Middle East, and Asia.
His work includes interviews with C-level leaders at major brokerages and fintech platforms, as well as co-authoring Finance Magnates’ quarterly industry benchmarking reports. Damian’s reporting is data-driven, market-aware, and grounded in direct industry engagement. His analysis and commentary have also been cited by external media outlets, including Investing.com, Binance, The Asset, Stockhead, and Dispatch.
Education:
MA in Finance and Accounting, Cracow University of Economics
Kraken Steps Up Speed Race with New Equinix Colocation Service for Crypto Traders
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FP Markets takes the spotlight as Global Broker of the Year 2025 at the Finance Magnates Awards.
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Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
FP Markets takes the spotlight as Global Broker of the Year 2025 at the Finance Magnates Awards.
Martin Stoilov, Head of Client Experience, shares that trust, innovation, and people played a key role in the company’s success, supported by a strong foundation of integrity and client-centricity.
Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
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We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
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▶️ YouTube: /@financemagnates_official
#HolaPrime #ForexBroker #CFDTrading #FinanceMagnates #Trading #Forex #BrokerReview
In this video, we review @HolaPrimeMarketsOfficial, a multi-asset forex and CFDs broker offering different account types, trading platforms, and flexible trading conditions.
We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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▶️ YouTube: /@financemagnates_official
#HolaPrime #ForexBroker #CFDTrading #FinanceMagnates #Trading #Forex #BrokerReview
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In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
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Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
