Market making
Two-sided liquidity, quoting tight and deep books on every venue your market trades on, held to the KPIs your exchanges require.
What's included
Continuous two-sided quotes
Bids and asks on every agreed pair, around the clock, sized to your market.
Exchange coordination
We work directly with exchanges on market-maker requirements, corporate accounts and fee tiers.
Listing support
Liquidity in place before the order book opens, so your first day of trading looks like a real market.
CEX and DEX together
Order books and AMM pools managed as one, so prices stay consistent everywhere.
Reporting
Dashboards and regular reviews against every KPI in your contract, with each decision explained.
How we differ
No hand-off
The trading team runs your market end to end. We manage the relationships, walk you through our thinking and every decision, and stay with you while your market trades live.
Trading alpha
Our market making has a strong record of generating trading profit. For ongoing clients, those returns have historically covered our service fees, making us an ROI-positive partner while depth and spreads stay on target.
Lean by design
We are a small team, and we work with projects we find interesting and believe in. A small portfolio means every client gets close attention and a hands-on relationship.
How it's measured
| Measure | What it means | How we report it |
|---|---|---|
| Spread | The gap between best bid and best ask, as a percentage of mid price | Time-weighted average per pair and venue |
| Depth | The value of orders resting within a band of mid. ±2% is the headline measure, alongside wider bands such as ±5% and ±10% | Sampled continuously, bid and ask side, at each band |
| Uptime | Share of time quotes meet the agreed spread and depth | Percentage of each period, per venue |
| Volume | Traded value in your market | Tracked live, as it happens. We never wash trade |
However you define performance, whether spread, depth, volume or PnL, it scales with the inventory we manage for you. We size it with you up front, so targets are realistic from day one.
Who it's for
Token projects
From L1s to payments, infrastructure and DeFi, market making improves how your market looks and how easily it trades. We cover pre- and post-listing, so if you haven't listed yet, we can work through the run-up to go-live with you.
Exchanges
Deeper books on major pairs, new listings, or any pair where liquidity is thin. We can run 30+ markets on a single venue at once, with competitive pricing at scale.
Stablecoins
We have managed a handful of widely recognised stablecoins, providing peg management across exchanges and custom arbitrage strategies to hold the peg. We handle the full lifecycle, including minting and redemption, to absorb large volumes from buyers or sellers.
Talk to us
Tell us about your market and what you need. We'll review it and come back to arrange a call.
Request a liquidity review