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Finery Markets Joins ClearToken’s Proof of Concept as a Leading Crypto-Native ECN and Trading Technology Provider

September 27, 2023

Finery Markets, a leading liquidity and institutional crypto trading infrastructure provider, is proud to announce its participation in ClearToken’s proof of concept (PoC) project. ClearToken, an ambitious initiative to establish a global clearing house for the digital asset age, collaborated with over 60 industry stakeholders from digital assets and traditional finance to demonstrate the viability of centralized clearing for cryptocurrencies sourced from multiple platforms.

As a first-of-its-kind crypto-native ECN and trading technology provider, Finery Markets plays a crucial role in showcasing the core market infrastructure principles that bring value and stability to digital assets. The PoC aimed to address the primary issues inhibiting the development of digital asset markets, such as clearing and settlement, pre-funding and counterparty credit risks.

By participating in ClearToken’s PoC, Finery Markets validated the importance of clearing and settlement services in reducing systemic and counterparty risks for market participants with complex exposures across various venues and instrument types. Finery Markets is thrilled to contribute its expertise and cutting-edge technology to ClearToken’s mission of building a fully regulated, CCP-cleared trading lifecycle for digital assets.

“We are excited to be part of ClearToken’s proof of concept and demonstrate the immense potential of centralized clearing in the digital asset space” said Konstantin Shulga, CEO and co-founder at Finery Markets.

“By partnering with industry-leading players, we believe that we can overcome the existing barriers and pave the way for the future of digital asset markets. Finery Markets remains committed to working closely with ClearToken and other market stakeholders to establish a robust and globally recognized clearing house for digital assets.”

Benjamin Santos-Stephens, CEO of ClearToken added: “We are addressing the primary clearing and settlement obstacles hindering the growth of digital asset markets. By collaborating with leading infrastructure providers such as Finery Markets and leveraging the UK’s firm legal framework, we are striving to create a clearing solution with round-the-clock support for trading and settlement.”

About Finery Markets:

Finery Markets is a leading liquidity and institutional crypto trading technology provider.

Serving clients since 2019 Finery Markets provides solutions throughout the whole trade lifecycle:

  • High performance ECN with deep institutional liquidity and firm quotes

  • Single entry-point to aggregated liquidity from global liquidity providers via API and GUI

  • Price intelligence and pre-trade risk management tools

  • Position management, risk controls, reporting tools and cost analysis, as well as flexible settlement based on a non-custodial model

  • Robust infrastructure: 99.99+% uptime and full automation 

Finery Markets software and technology is available as a white-label solution for liquidity providers, brokers, OTC desks and exchanges that are looking to develop and expand client business. 

For additional information please visit https://finerymarkets.com/


About ClearToken:

ClearToken is building a Central Counterparty (CCP) to deliver robust financial market infrastructure to the digital asset ecosystem. This infrastructure will mitigate bilateral counterparty risk for settlement, financing, and derivative transactions by centralizing clearing, collateral, and risk management arrangements. The company will operate 24/7 to provide uninterrupted service while managing risk in real-time through margin and default fund contributions. As a horizontal CCP, ClearToken will facilitate transactions from multiple venues and OTC markets globally. ClearToken intends to be multi-custodial and adhere to the highest AML and KYC standards. ClearToken's team comprises established corporate governance and financial markets professionals who share the objective of implementing the necessary framework for the digital asset market. As a planned financial market infrastructure, ClearToken is seeking authorisation and recognition with the relevant regulatory bodies and will adhere to the IOSCO principles for financial market infrastructures together with all relevant legislation applicable to clearing houses, payment systems, securities and derivative depositories. For more information, please visit: https://www.cleartoken.io/

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