To enhance the institutional trading experience in the crypto space, Finery Markets, a non-custodial crypto Electronic Communication Network and trading infrastructure provider for institutional players, has officially entered into a partnership with Hidden Road Partners. This collaboration is marked by the integration of Finery Markets' flagship solution, FM Liquidity Match, into the operations of Hidden Road, a prime broker for crypto spot transactions.

Institutional Shift: OTC Access in Crypto Trading

The institutional participants have embraced the innovative FM Liquidity Match, which offers easy electronic access to robust institutional Over-The-Counter liquidity.

This ensures a high-quality execution environment while safeguarding against toxic flow in crypto spot transactions. Hidden Road acts as a prime broker within this framework, overseeing efficient credit intermediation and post-trade settlement for its clients engaging in crypto trades.

"We are excited to announce that we have expanded our partnership with Hidden Road, a leading prime broker for digital assets. Through their role as a prime broker via FM Liquidity Match, Hidden Road now offers their customers the first OTC trading infrastructure that provides ‘no last look’ execution for liquidity takers, while also offering toxic flow protection for market makers,” said Konstantin Shulga, the Co-Founder and CEO of Finery Markets.

FM Liquidity Match Enhances Functionality

FM Liquidity Match presents a user-friendly interface, available through both a Graphical User Interface and Application Programming Interface, supporting protocols such as FIX 4.4, REST, and WebSocket. The platform introduces cutting-edge features that are poised to elevate the institutional trading experience to unprecedented levels.

One of the standout features of FM Liquidity Match is the provision for anonymous trading within a firm liquidity pool, eliminating the concept of "last look" for liquidity takers and incorporating toxic flow protection for market makers. This anonymity is coupled with a seamless electronic onboarding process, streamlining the experience for Hidden Road's clients. The platform further incorporates a role-based access system, ensuring secure and controlled participation.

📢 Finery Markets has partnered with Hidden Road to launch an industry-first firm OTC liquidity pool with toxic flow protection. 🤝 pic.twitter.com/iUg2Tpkfxu

— Finery Markets (@finerymarkets) January 25, 2024

To fortify risk management, FM Liquidity Match integrates pre-trade risk management controls with customizable risk limits, offering participants the flexibility to tailor their risk exposure according to their specific preferences and strategies. Additionally, the platform supports flexible post-trade settlement options and adheres to travel-rule compliant reporting, meeting regulatory standards in the rapidly evolving crypto landscape.

“Hidden Road is committed to offering our clients a comprehensive range of tools, both through our own products and in collaboration with trusted partners. We are pleased to announce that Finery Markets' venue has joined our list of execution venues, extending Hidden Road's credit network and OTC prime brokerage offering."

"This partnership exemplifies our dedication to empowering clients to select their preferred price discovery centers and liquidity solutions. We believe that Finery Markets’ unique offering is a valuable addition to our network,” Michael Higgins, the Global Head of Business Development at Hidden Road, said.