The Digest | February 2025 | Blog - Resources

Finery Markets achieves a record-high client turnover

SOC 2 Type 2 Achieved: Robust security protocols validated through rigorous third-party evaluation

2025 Outlook: Our team’s view on institutional crypto growth

DORA Compliance: Strengthened ICT risk management supports seamless operations under new EU standards

Authorized Limit Orders: New feature delivers precise, high-touch trade execution

Order Management Upgrade: Enhanced GUI enables real-time order monitoring and swift adjustments

OTC Liquidity Boost: Expanded partnership with Hidden Road partners increases access to institutional OTC trading

New All-time High Client Turnover

In January, Finery Markets achieved a record-breaking milestone with a client turnover of $1.6 billion. This accomplishment underscores Finery Markets' strong growth trajectory, highlighting the scalability and benefits of its solutions for crypto OTC trading tailored for institutional clients.

The company has also returned to profitability following a phase of investments aimed at growth, bolstered by the previous funding round. The positive operating income is a sign to institutions that their long-term investments in the trading solutions offered by Finery Markets are supported by a sustainable business model—demonstrated across both high and low market cycles.

We celebrate this record-breaking performance with deep gratitude for our investors, clients, and partners. Your support empowers us to integrate best-in-class tradfi practices to streamline institutional access to cryptocurrency.

Finery Markets Completes SOC 2 Type 2 Examination

Finery Markets has successfully completed its SOC 2 Type 2 examination, further demonstrating its dedication to maintaining robust security protocols and protecting client data across a global, institutional trading platform. This achievement builds on the earlier SOC 2 Type 1 milestone, validating the company’s policies, procedures, and systems through rigorous third-party evaluation and reinforcing the reliability of its hybrid ECN solutions.

The completion of the SOC 2 Type 2 exam solidifies the company’s leadership in cybersecurity compliance, ensuring that clients can trust the platform’s ability to manage risk and safeguard sensitive information in the fast-evolving digital asset ecosystem.

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What to Expect in Institutional Crypto in 2025

As we kick off 2025, core team members shared their expectations for the months ahead. Konstantin Shulga, CEO & Co-Founder, anticipates that Tier 2 and Tier 3 European exchanges will face liquidity challenges as MiCA regulations unfold, prompting them to explore new broker-dealer models and advanced technology solutions.

Krish Chatterjee, Advisory Member, expects the stablecoin market to expand with more regulated tokens backed by USD and local fiat, while also emphasizing the need to segregate various crypto services to protect end users and improve market structure.

Leo Hmelnitsky, Strategic Partnerships Lead, notes that institutional adoption was relatively muted in 2024 but sees strong potential for growth in 2025, driven by renewed interest from corporate treasuries and a new wave of crypto ETFs and Depositary Receipts. He expects these developments to boost trading volumes and price action for major assets like Bitcoin and Ethereum.

James Harris, Strategic Partnerships Executive, envisions 2025 as a transformative year where tokenized traditional assets and unified global regulations streamline cross-border crypto trading. He believes that integrating decentralized platforms with centralized oversight will create new avenues for yield generation and arbitrage, ultimately driving a more stable and institutional-friendly trading environment.

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Finery Markets’ Role in a DORA-Compliant Environment

The Digital Operational Resilience Act (DORA) is set to redefine ICT risk management for financial institutions across the EU, and Finery Markets is well-prepared to support this transition. DORA establishes rigorous standards for operational resilience, mandating robust risk management frameworks, regular resilience testing, and stringent oversight of third-party ICT providers. As a crypto-native ECN, Finery Markets already meets high industry benchmarks by achieving both SOC 2 Type 1 and Type 2 certifications.

By delivering secure, scalable, and transparent trading infrastructure, Finery Markets enables its institutional clients to meet DORA’s due diligence requirements. The company’s commitment to ongoing cybersecurity practices—including annual penetration testing and continuous process improvement—ensures that its platform not only complies with DORA but also supports the operational continuity of financial institutions in a rapidly digitizing market.

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Debuting Authorized Limit Orders

Finery Markets has improved its "Authorized Trading" suite with the introduction of Authorized Limit Orders, designed specifically for brokers and high-touch trading desks. This new feature enables brokers to execute limit orders on behalf of clients while adhering to pre-set bilateral risk limits, offering a blend of precision and speed in trade execution. The functionality is integrated into our SaaS solutions, including both FM Liquidity Match and FM White Label,creating fully electronic trading workflows for voice- and chat-based transactions. By automating aspects of order placement and leveraging advanced spread management, the platform minimizes counterparty risk and ensures that trades are executed efficiently. This upgrade further strengthens Finery Markets’ commitment to providing institutional clients with tailored tools that enhance both execution quality and operational risk management in an increasingly competitive crypto landscape.

New Order Management Interface

Earlier this month, we’ve also rolled out a new order management interface within the GUI, specifically designed for market makers to manage orders placed through the API. This tool allows liquidity providers to monitor and adjust their passive orders in real-time, ensuring that outdated orders are quickly modified or canceled using advanced filtering options and the new “kill button” functionality.

The intuitive interface simplifies order oversight by enabling users to sort orders by trading instrument or time period, thereby improving operational efficiency and reducing the risk of stale orders impacting the order book. This update is available across FM Marketplace and our SaaS solutions—FM Liquidity Match and FM White Label—reinforcing Finery Markets' commitment to delivering seamless, user-friendly technology for institutional trading.

OTC Review: 2024 Results & 2025 Outlook

Finery Markets’ comprehensive OTC review for 2024 reveals record-breaking growth in the crypto OTC market, driven by surging stablecoin demand and an increase in crypto-to-crypto transactions. Leveraging trading data from over 35 countries, the review uncovers key patterns and trends among institutional participants that are reshaping the OTC landscape, despite its traditionally opaque nature.

Looking ahead to 2025, the outlook is positive as regulatory clarity, advanced liquidity solutions, and the integration of new investment products drive further adoption. The report highlights the evolving market dynamics that will support a more efficient and secure trading environment for institutional investors, paving the way for broader digital asset integration in traditional finance.

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