Finery Markets taps Bequant to offer crypto OTC prime brokerage

abdelaziz Fathi

Digital assets prime broker and exchange, Bequant, has joined forces with Finery Markets, a provider of over-the-counter (OTC) trading solutions, as their latest strategic partner.

The collaboration comes as Finery Markets introduces its FM Liquidity Match service, aimed at providing institutional market players and crypto businesses with streamlined access to over 150 crypto-to-crypto and fiat-to-crypto pairs via prime brokers like Bequant.

As a partner of Finery Markets, Bequant will connect these players with a wide range of crypto liquidity providers accessible through the new service.

Through its utilization of FM Liquidity Match technology and liquidity, Bequant will augment its product portfolio by delivering an OTC prime brokerage service. Leveraging its existing client relationships, Bequant aims to offer expanded prime brokerage services with the addition of OTC liquidity.

Launched in April 2023, FM Liquidity Match is designed to be a comprehensive solution that enables market players to launch a fully electronic OTC trading business and manage client relations throughout the entire trade cycle. Developed in-house by Finery Markets, the platform comes with a proprietary matching engine and operates through a sub-account model, allowing for easy customization and management of risk limits, positions, and trading history.

The product, which caters to institutions and crypto businesses, is said to be the first-ever electronic OTC-as-a-service that allows users to access liquidity for digital assets in an electronic and automated way.

George Zarya, founder and CEO of Bequant said: “At Bequant, we are thrilled to announce our partnership with Finery Markets, as we take the best of the FX trading infrastructure and apply it to the world of crypto. This partnership is a testament to our commitment to delivering innovative solutions that meet the evolving needs of our clients.”

Konstantin Shulga, the CEO and co-founder of Finery Markets added: “Crafted with our clients’ needs in focus, FM Liquidity Match is revolutionizing institutional crypto trading. Our non-custodial trading technology solution offers market professionals a risk-managed approach, compliant reporting, and post-trade flexibility, as well as ensures access to global liquidity and optimal execution. We are absolutely confident that we can help Bequant further boost its digital assets prime brokerage services. Additionally, Bequant can leverage our cutting-edge technology to internalize customer flows, resell global inter-dealer liquidity to their customers, or even create their own ECN.”

Bequant first launched its crypto prime brokerage solution, Bequant PRO, back in 2020 to simplify complex tasks like margin and trading across multiple venues through a single account, with select market participants.

Bequant serves those who need OTC best execution for their own accounts and who wish to offer cryptocurrency products to their own clients. The solution is aimed at investment managers and hedge funds, including cryptocurrency funds, private banks, family offices and wealth managers.

Aiming to provide infrastructure covering onboarding, execution, settlement, reporting and custodianship, the service encompasses many relevant features that covers requirements for analogous businesses in traditional investment sectors. This includes multi-exchange direct market access, custody, collateral management tools, leveraged trade execution, OTC block trading, risk management, smart order routing, integration of third party solutions and round-the-clock support.

The infrastructure also reduces the counterparty risks allowing investment managers to trade through a dedicated and whitelisted custodian.

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