Economy
Finery Markets Launches Electronic OTC-as-a-Service Solution for Digital Assets
By Adedapo Adesanya
Finery Markets, a leading provider of Over-the-Counter (OTC) trading solutions for institutions and crypto businesses, has announced the launch of FM Liquidity Match, the first-ever electronic OTC-as-a-service for digital assets.
In a press release sent to Business Post, the company also announced that Floating Point Group would become its first user.
FM Liquidity Match is a ready-to-deploy trading solution with a proprietary matching engine that enables market players to launch a fully electronic OTC trading business and manage client relations throughout the entire trade cycle.
According to Mr Konstantin Shulga, CEO and co-founder of Finery Markets, “We believe that our platform is the future of institutional crypto trading, and we’re excited to be a part of it. Our team has been working hard to reimagine the way institutional crypto trading operates in the post-FTX era.
“Through our FM Liquidity Match, market professionals can provide their customers with a “no last look” trading model, ensuring the best execution. Thanks to the proprietary matching engine, market participants can even create their own ECN and customized liquidity pools, internalize customer flows, or simply resell global OTC liquidity to their end-customers.”
FM Liquidity Match operates through a sub-account model with a master account created by a broker, prime-broker, OTC-desk, or liquidity provider, which then creates multiple sub-accounts to serve its clients via GUI or API.
Each sub-account functions as a separate trading account with its own balance, positions, and trading history. It operates within specific risk limits and settles with the master account. The master account manages user access, risk limits, position rollover, mark-ups and spreads across all sub-accounts.
The solution, which is available through a GUI or API (FIX 4.4, REST, or WebSocket), boasts an array of cutting-edge features that will elevate the trading experience to a whole new level.
These features include a seamless electronic onboarding process, a role-based access system, pre-trade risk management controls and account limits, post-trade settlement and travel-rule compliant reporting, as well as firm liquidity across 12 liquidity providers with “no last look” execution.
“With Finery Markets’ new FM Liquidity Match solution, Floating Point Group’s clients have deeper liquidity than ever before without the risk presented by digital asset exchanges. With fully electronic OTC capabilities, we make a small step in the transition to a more mature market,” said Mr Kevin March, cofounder of Floating Point Group.
Adding his input, Mr Michael Rabkin, Global Head of Business Development at DV Chain, said, “It’s natural for newer asset classes to undergo a process of defragmentation facilitated by market structure elements like prime-brokerage services. We’re pleased to be among the first liquidity providers to collaborate with FPG in their capacity as a prime broker for digital assets, enabling their clients to tap into our world-class liquidity.”
“We are excited to utilize our expertise in quantitative trading and technology to offer top-notch liquidity to FPG’s clients,” said Mr Boris Sebosik, the Head of OTC Trading at Wincent. “Providing liquidity for prime brokers in the crypto industry will enable us to access a wider range of clients and markets, further increasing our competitive position.”
By Aduragbemi Omiyale
One of the paint makers in Nigeria, Premier Paints Plc, is currently in talks with a new investor, Xenergi Limited, for the purchase of 51 per cent stake in the company.
Xenergi Limited intends to acquire shares of Clover Global Resources Limited and TGHL Capital Limited in the organisation.
Business Post gathered that the new investor will buy 39.02 per cent from Clover Global Resources Limited and 15.20 per cent from TGHL Capital Limited.
The deal, according to a regulatory notice issued on Tuesday on the Nigerian Exchange (NGX) Limited, will involve about 63 million shares of Premier Paints.
At the current share price of the paint producer, this should be about N630 million as it closed at N10.00 per unit on NGX on December 16, 2025.
“Subject to obtaining required regulatory approvals, the transaction is expected to close before January 31, 2026.
“The company will continue to inform the public of the progress of the transaction,” the disclosure signed by the company secretary, Alozie Nwokoro, said.
By Adedapo Adesanya
The Naira was flat against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Tuesday, December 16, retaining the previous closing value of N1,451.82/$1.
In the same vein, the local currency saw no movement against the Pound Sterling and the Euro in the spot market during the session at N1,943.98/£1 and N1,705.74/€1, respectively.
Also, the Nigerian Naira remained unchanged in the black market yesterday at N1,475/$1 and was N1,460/$1 at the GTBank forex counter.
The Central Bank of Nigeria (CBN) has strengthened US Dollar supply with $250 million to authorised dealer banks at the official window cumulatively as foreign portfolio investors, exporters and non-bank corporate supply dripped.
The spread between official and other non-regulated markets decreased to N30.59$/1 from N44.57/$1, from the previous week, research subsidiary of Coronation Merchant Bank Limited said in a report.
FX analysts said foreign exchange inflows through the Nigerian Foreign Exchange Market decreased to $716.3 million from $844.70 million in the previous week , a 15 per cent drop in a week.
Foreign portfolio investors accounted for the highest share of inflows at 32.98 per cent, followed by exporters at 30.84 per cent, the CBN (17.36 per cent), Non-bank Corporates (16.94 per cent), others (0.72 per cent) and Individuals (0.63 per cent).
On Monday, Nigeria’s headline inflation rate eased to 14.45 per cent in November 2025, down from 16.05 per cent recorded in October, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), representing a decrease of 1.6 percentage points month-on-month and marks a significant moderation compared to the same period last year.
As for the cryptocurrency market, there was some recoveries after overall capitalization falling below $3 trillion for the third time in a month. Large-cap assets, particularly those with Exchange Traded Fund (ETF) exposure, are experiencing selling pressure as institutional investors reassess risk.
Ripple (XRP) appreciated by 1.5 per cent to $1.92, Litecoin (LTC) expanded by 1.5 per cent to $78.91, Dogecoin (DOGE) rose by 0.8 per cent to $0.1308, Solana (SOL) went up by 0.4 per cent to $127.60, Binance Coin (BNB) grew by 0.3 per cent to $865.40, and Bitcoin (BTC) gained 0.2 per cent to sell at $86,735.17.
On the flip side, Cardano (ADA) depreciated by 1.0 per cent to $0.3802 and Ethereum (ETH) slumped by 0.4 per cent to $2,935.85, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) were flat at $1.00 each.
By Dipo Olowookere
A marginal 0.01 per cent rise was recorded by the Nigerian Exchange (NGX) Limited on Tuesday. This was different from the flattish mode of the market the previous day.
Investor sentiment remained bullish as Customs Street finished with 31 price gainers and 26 price losers, implying a positive market breadth index.
Aluminium Extrusion topped the gainers’ log after it improved its price by 10.00 per cent to N9.35, Guinness Nigeria appreciated by 9.98 per cent to N263.40, Multiverse expanded by 9.95 per cent to N12.15, MeCure Industries also soared by 9.95 per cent to N45.85, and Sovereign Trust Insurance advanced by 9.89 per cent to N4.11.
Conversely, Haldane McCall led the losers’ chart after it shed 9.93 per cent to settle at N3.72, Veritas Kapital lost 9.09 per cent to close at N1.60, LivingTrust Mortgage Bank also declined by 9.09 per cent to N3.50, and Linkage Assurance depreciated by 5.71 per cent to N1.65.
During the trading day, the All-Share Index (ASI) went up by 21.23 points to 149,459.11 points from the previous day’s 149,437.88 points and the market capitalisation increased by N14 billion to N95.281 trillion from N95.267 trillion.
Yesterday, traders transacted 1.0 billion equities for N21.8 billion in 23,701 deals compared with the 553.1 million equities valued at N13.3 billion traded in 28,907 deals on Monday, representing a decline in the number of deals by 18.01 per cent, and a surge in the trading volume and value by 80.80 per cent and 63.91 per cent apiece.
Access Holdings traded 385.8 million stocks worth N7.7 billion, Champion Breweries transacted 111.8 million shares valued at N817.8 million, Sterling Holdings exchanged 85.5 million equities for N589.9 million, FCMB sold 74.7 million shares valued at N791.5 million, and First Holdco transacted 51.9 million equities worth N1.8 billion.
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