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April 02, 2024 - Digital Asset prime broker LTP has announced a partnership with Finery Markets, a non-custodial crypto ECN and provider of trading SaaS for institutional entities. This collaboration aims to improve interconnection within the crypto industry for institutional clients by combining LTP's market connectivity, infrastructure, and clientele with Finery Markets' institutional OTC liquidity pool via FM Liquidity Match.
As a prime broker, LTP enables institutional clients to participate in crypto spot transactions through FM Liquidity Match, providing electronic access to institutional OTC liquidity while offering execution and protection against toxic flow. The partnership allows LTP's clients to trade anonymously, utilising brokerage services, connectivity, and post-trade settlement, while maintaining regulatory compliance.
FM Liquidity Match, accessible through a GUI or API (FIX 4.4, REST, or WebSocket), offers features such as:
- anonymous trading with firm liquidity pool for liquidity takers,
- toxic flow protection for market makers,
- an electronic onboarding process,
- role-based access system,
- pre-trade risk management controls,
- customisable risk limits,
- spread management,
- post-trade settlement with compliant reporting.
"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," said Konstantin Shulga, co-founder and CEO of Finery Markets.
LTP Founder and CEO Jack Yang added, "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, also commented on the partnership', "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 provider."
