Finery Markets, a leading non-custodial crypto ECN and provider of SaaS trading solutions for institutional clients, has announced a new partnership with Wintermute, a prominent algorithmic trading firm and liquidity provider.
This collaboration introduces an RFQ (Request for Quote) method on Finery Markets’ ECN platform, FM Liquidity Match, offering institutional clients a more seamless and efficient trading experience with Wintermute.
Wintermute now becomes the first liquidity provider to leverage the RFQ method on FM Liquidity Match, Finery Markets’ institutional-grade ECN. The platform’s unique setup now merges order-driven matching—where liquidity is firm with zero slippage—with an RFQ function, allowing clients to request quotes for any asset size, enhancing the platform’s flexibility for diverse trading needs.
This partnership aims to optimize price execution for institutional traders, benefiting from a synergy between Finery Markets’ technology and Wintermute’s deep liquidity provision. The collaboration comes at a time of growing adoption of digital assets among both traditional financial institutions and crypto-native firms. Finery Markets reports an 89% year-over-year growth in crypto OTC spot transactions in the first nine months of 2024, underscoring the rising demand for advanced trading solutions.
“As a leader in liquidity provisioning, Wintermute was a top choice for introducing the RFQ trading method through our ECN. 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,” commented Konstantin Shulga, CEO of Finery Markets.
Evgeny Gaevoy, CEO of Wintermute, added, “Our partnership with Finery Markets reaffirms our commitment to enabling counterparties to have seamless, reliable access to digital asset markets. 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.”
The new RFQ capability is anticipated to strengthen Finery Markets’ appeal among institutional clients seeking flexible and reliable trading infrastructure in the rapidly evolving digital asset landscape. With Finery Markets and Wintermute joining forces, the collaboration sets a high standard for efficient crypto trading solutions that cater to the needs of the global institutional market.
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