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Liquidity For Large and Complex Orders

Mercury’s request for quote (RFQ) network provides instititional-sized access for asset managers, professional trading groups, OTC desks, agency brokers, & other market participants to source & make offscreen block liquidity in crypto options, futures, & perpetual swaps.

Block-sized crypto derivatives.

Efficiently execute large orders as block trades in Bitcoin and Ethereum options, futures, & perpetual swaps that settle at Deribit.

  • Anonymous, multi-dealer RFQ with 24/7 coverage
  • Trade outright futures & perpetuals and single-leg options
  • Multi-leg options orders, futures spreads, and perpetual-futures strategies in net price structures
  • Easily add a futures leg to a complex order to delta hedge
  • Send 1 RFQ request and trade against multiple contra orders

Flexible ways to participate.

  • Quickly request and respond to RFQs from BEACON
  • Automate pricing & integrate to other systems using our FIX API
  • Agency brokers can easily find the opposite side to their brokered buy or sell order to complete the cross trade
  • Fully-integrated with BEACON’s order & execution management tools for exchange-traded spot & derivatives products and bilateral OTC spot & options trading

Complete audit trail.

  • FIX drop copy API for real-time trade notifications
  • Fully-configurable batch & end-of-day reports
  • Read-only platform access for compliance & operations
  • Full order-level event details & chat history stored for 7 years
  • Integration to internal & third-party risk systems