Liquid Mercury, a leading crypto trading technology provider, announced today that it is providing a RFQ (request for quote) platform to GFO-X, the UK’s first regulated and centrally cleared trading venue dedicated to digital assets derivatives.
Institutional traders will be able to source deep liquidity for trading listed options and futures contracts in large trade sizes that can be transacted as single-leg or complex multi-leg strategies.
Liquid Mercury’s institutional-grade platform, combined with GFO-X’s regulated derivatives marketplace, provides a secure and efficient trading environment for institutional trading firms and professional investors.
This technology allows market participants to manage digital asset exposure and hedge underlying portfolio risks.
Liquidity providers can provide two-sided quotes in response to RFQs generated by hedge funds, asset managers and other buy-side participants initiated from Liquid Mercury’s professional-grade trading interface or FIX and web socket APIs.
Trades will print on GFO-X’s exchange and be cleared through a GFO-X general clearing member at LCH SA, LCH Group’s continental Europe clearing house and part of the largest and most sophisticated clearing services in financial markets.
Brokers will also use Liquid Mercury’s platform to intermediate trades between buyers and sellers in order to cross-block trades on GFO-X’s exchange and conduct other sell-side trading workflows.
Tony Saliba, CEO of Liquid Mercury, said,
“Looking at the equity derivatives market where the growth in number of options exchanges has fueled the growth in trading participants, added more liquidity in the market and driven record volumes of contracts traded I see GFO-X’s entrance into crypto derivatives as a key development for a more vibrant exchange landscape.
“This is a prime opportunity to grow the entire crypto options market. In addition to providing the technology solution that will power GFO-X’s block liquidity network, Liquid Mercury will be operating as a strategic partner, introducing our clients and broad network of traditional market players as new participants to GFO-X’s exchange.”
Arnab Sen, CEO of GFO-X, said,
“We chose Liquid Mercury as a partner due to the team’s pedigree in building successful technology-focused franchises in traditional markets, combined with a track record of delivering institutional-grade solutions…
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