Finery Markets Adds Hidden Road to OTC Platform

Crypto ECN Finery Markets has announced a partnership with credit intermediary Hidden Road for its FM Liquidity Match OTC crypto platform, which was launched in April 2023.

The firm says Hidden Road clients have begun executing on the platform with Hidden Road as the prime broker, Finery claims FX Liquidity Match is the first OTC crypto trading infrastructure that offers no “last look” liquidity, while providing market makers with toxic flow protection. The latter is enabled by use of a default speed bump for all liquidity takers.

This strategic partnership presents exciting prospects for anonymous trading within a vast pool of institutional clients, enabling us to broaden our market presence,” observes Boris Sebosik, head of OTC at Wincent, which is named as a launch partner, while Michael Higgins, global head of business development at Hidden Road, says, “We believe that Finery Markets’ unique offering is a valuable addition to our network.”

Floating Point Group and DV Chain were named as initial users of the platform at launch in 2023, since when it has also been deployed by prime broker Bequant, as well as Digital Asset Management, a crypto payments and storage provider.

“The collaboration between Finery Markets and Hidden Road presents an exciting opportunity to enhance our liquidity provisioning capabilities by broadening our network of institutinal counterparties,” says Michael Rabkin, head of global business development at DV Chain. “We have noticed a growing trend towards a more sophisticated prime-brokerage structure in the crypto space, a concept that has long been established in traditional finance. By incorporating a prime brokerage model through FM Liquidity Match into our global offerings, we can further strengthen our position as a leading provider of institutional crypto liquidity.”