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      Finery Markets Introduces Hybrid Execution Model for Institutional Crypto Trading

      Published: just now

      Finery Markets

      Non-custodial institutional crypto ECN and trading solutions Finery Markets has announced the addition of a Request-for-Quote (RFQ) execution method to its existing ECN. This development positions Finery Markets as the first hybrid crypto ECN, combining both order-driven and quote-driven market models.

       

      The new RFQ feature complements Finery Markets' existing order-book execution system, which has been in operation since 2019. This system aggregates liquidity from various global providers, adhering to the principle of "best execution" and offering 'no last look' execution, which ensures trades are executed without rejections from liquidity providers even in volatile market conditions.

       

      Konstantin Shulga Finery Markets Ceo
      Konstantin Shulga, CEO of Finery Markets

       

      Konstantin Shulga, CEO of Finery Markets, explained the rationale behind the hybrid model: "In trading, there is no one-size-fits-all solution. We believe that a hybrid model offers significant value to our customers. This approach combines the transparency and execution certainty of order-driven systems with the deep liquidity and minimal market impact of quote-driven models."

       

      The newly introduced RFQ mode allows buyers to request quotes for specific volumes of asset pairs, receiving competitive responses from multiple liquidity providers. This method is particularly advantageous for large trades or for trading specific assets where continuous markets may not be available, as it can help minimize market impact.

       

      In preparation for this launch, Finery Markets relocated its trading servers to Amazon Web Services (AWS) in Japan. This move aims to position the servers closer to the crypto price discovery center, potentially enhancing market data processing and analysis.

       

      Finery Markets, which launched in 2019, currently serves over 150 digital asset clients across more than 35 countries. Its client base includes a range of institutional players such as payment providers, brokers, OTC desks, hedge funds, and custodians.

       

      The company has gained recognition in the industry, becoming the first crypto ECN to receive SOC 2 Type 1 certification. In 2024, it was also selected as one of the top 50 rising stars in the Deloitte Technology Fast 50 competition.

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      This content may have been written by a third party. LiquidityFinder makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplies by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.
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