Firstly, you need to set the Global Limits. This is an overall limit for your trades. If you have multiple liquidity providers, this limit will regulate the overall exposure.
The global and counterparty limits should be set in one currency. It will be universal across all trading pairs. In case of several currencies, the system will choose the one with the least value in Dollars.
Secondly, you’ll need to set up your Counterparty Limits (Finery Markets team will provide you with a
CounterpartyID ). This is the individual limit with maker. If the your counterparty has also set up a limit with you, you will see a
Username instead of a
Optional: Send prepayment as a settlement guarantee to a maker if it was required in your MPSA. After making an actual bank wire or a blockchain transaction, you need to create a Settlement transaction to reflect the off-platform transfer. Specify CounterpartyID of a maker, the asset, which you have transferred, and the amount; comment is optional and may be something like “Prepayment for future trades”. Once transaction is submitted, do not forget to send it and input Tx ID that is either a hash of a blockchain transaction or a bank reference.
Once limits are set up, you will see liquidity in the Market Depth table. Choose the right instrument to make a trade. Once done, you will see it in the Last trades table. You net open positions will also change.
To settle your open positions, you’ll need to send your asset to the maker and receive the traded one in return.
The settlements are done outside of the platform, however you have register transfers on the platform to amend your P&Ls and limits.