Finery Markets operates a non-custodial electronic communication network (ECN) that connects institutional participants to over 200 crypto and fiat trading pairs, ensuring zero order rejections through its proprietary matching engine. The platform enhances trade execution quality and capital efficiency while minimizing counterparty risk for banks, brokers, and liquidity providers.
Funding
Funding not disclosed
Founders
Product
Problem
Institutional crypto traders often face challenges related to counterparty risk, inefficient capital utilization, and suboptimal trade execution when accessing liquidity across various platforms. Traditional methods may involve order rejections and a lack of transparency, hindering the ability to achieve best execution.
Solution
Finery Markets provides a non-custodial electronic communication network (ECN) that connects institutional participants with a wide array of crypto and fiat trading pairs. The platform's proprietary matching engine ensures zero order rejections, enhancing trade execution quality and capital efficiency. By offering aggregated liquidity with last-look protection and toxic flow protection, Finery Markets minimizes counterparty risk and improves the overall trading experience for banks, brokers, liquidity providers, and other institutional clients. The ECN supports multiple trading methods, including order book, quote streams, and request for quote (RFQ), allowing users to access deep liquidity pools and secure tailored, real-time quotes.
Target Audience
Finery Markets primarily targets banks, brokers, neobanks, crypto-native and FX brokers, payment providers, OTC desks, buy-side firms (passive funds, hedge funds, asset managers), liquidity providers (market makers, proprietary shops), and prime brokers.
Features
- Aggregated liquidity from validated liquidity providers with last-look protection
- Support for over 200 crypto and fiat trading pairs
- Proprietary matching engine ensuring zero order rejections
- Multiple trading methods: Order Book, Quote Streams, and Request For Quote (RFQ)
- FM Pulse: Real-time market data analytics to unhide trading costs and compare bid-ask spreads
- FM Space: Counterparty selection tool to access a network of trading venues, brokers, and PSPs
- FM White Label: Crypto ECN-as-a-Service, offering software with access to liquidity and master/sub-account architecture
- End-to-end solutions for front, middle, and back-office trading workflows, including risk management, treasury management, and settlement/clearing
- Integration with BitGo for automated clearing and settlement, qualified custody, and insurance up to $250M
- SOC-2 Type 1 & Type 2 certified, ensuring best-in-class security standards