Finery Markets

Finery Markets aggregates liquidity from a global network of validated institutional providers, including market makers and proprietary trading shops. Liquidity takers access firm quotes via an aggregated order book, streaming quotes, or a request-for-quote module. Each provider sets its own pricing, and Finery Markets' smart order router distributes flow without a last-look mechanism, meaning trades are confirmed at the displayed price.

No. Finery Markets describes itself as a software vendor that provides non-custodial technology infrastructure to licensed institutional entities. It does not operate a trading platform, intermediate trades, hold client funds, or settle transactions. Each client is responsible for its own bilateral relationships and regulatory permissions in its operating jurisdictions.

Finery Markets does not take custody of client assets. Its software is non-custodial, and settlement occurs bilaterally between counterparties. The firm offers a co-developed integration with qualified custodian BitGo, which provides automated clearing and settlement with insurance coverage up to $250 million for assets held at BitGo.

The platform supports three execution protocols: a firm-price order book with no last look, streaming quote feeds from individual liquidity providers, and a request-for-quote mode where multiple providers compete on price. Users can operate via API or graphical interface, and the system allows for configurable markups, margin management, and overnight financing rollovers.

Published client categories include neobanks, crypto-native and FX brokers, payment service providers, on/off-ramp operators, crypto trading desks, retail platforms, passive and hedge funds, asset managers, market makers, and proprietary trading firms. The firm also targets agency and risk-principle brokers through its white-label ECN-as-a-Service product.