Finery Markets has incorporated Fireblocks’ custody technology to streamline off-exchange trading and settlement operations for institutional clients.

Implementation with Finery Markets

In the wake of this development, Finery Markets, a Cypriot provider of comprehensive digital asset trading solutions for institutions, has merged its Execution Management System (EMS) with Fireblocks’ custody and settlement modules. This integration ensures a clear division between trade execution and asset storage.

This step signals an increased focus on integrating operational processes in the digital asset trading space, as traditional post-trade procedures in over-the-counter markets often require extensive manual labor.

Enhancing Post-Trade Efficiency

The new technical setup allows for automatic data exchange between Finery Markets’ liquidity network and Fireblocks’ secure vaults. This feature aims to simplify the post-trade netting process, allowing clients of Fireblocks’ custody service to initiate settlements directly through the Finery Markets platform.

Daily reconciliation of positions and credit limits against custody records is part of this arrangement, which is intended to decrease operational risks related to manual transactions while maintaining the separation between trade execution and asset security — a cornerstone principle in institutional trading systems.

Ecosystem Integration

By implementing this network, Finery Markets intends to integrate its EMS within an existing institutional custody ecosystem instead of developing new infrastructure. For the OTC digital asset market, this integration addresses a longstanding issue as institutions have increasingly participated, with front-end trading tools maturing but post-trade workflows such as settlement initiation and reconciliation lagging behind.

According to an official statement, the architecture is designed around principles of independence, capital efficiency, and netted settlements. The integration aims to extend these principles into on-chain environments.

This solution is accessible only to Finery Markets clients already utilizing Fireblocks for custody, making adoption dependent on existing Fireblocks users rather than requiring institutions to switch custodians. Thus, it serves as an operational layer for institutions already part of the Fireblocks network.