We enable brokers to launch distinctive brands successfully.

One Stop HubFrom technology to liquidity, all in one place.

Fast & EfficientSave time and money with no development required.


Prop Trading Challenge

Prop Trading SolutionsFully managed Prop Firm setup or plug-n-play Prop Challenge system for your FX Broker, we’ve got both.User Guide
MT4 & MT5 White Label

FX Trading Platform (ZeroX)Turnkey FX Broker setup. Fast, competitive and hyper optimized with our CRM and liquidity.

FX Broker CRM (AXIS)Your highly customizable and fully branded FX Broker CRM deployed in 1 Day. SaaS model, no setup fee.User Guide | Release Notes
MT4 & MT5 White Label

MT4 & MT5 White LabelWorld renowned Metaquotes trading platform integrated with Broctagon’s full solution suite.
Over 1800 instruments with spreads from zero & 10 Tier Market Depth.
Investment Platform

MT5 Report Server Recreating the flexibility of MT4 Report Server for MT5 White Labels to allow individual customizations. 
Investment Platform

Investment PlatformPAMM / MAM / Social Trading
Ancillary Services

Ancillary ServicesIncorporation / Licensing / Website
Data Centre Security

Data Centre SecurityProtection / Recovery / Pentest

We enable exchanges to be instantly competitive with robust liquidity.


We help tokens manage liquidity so they can focus on delivering success.


NEXUS LinkLiquidity Aggregator &
STP Engine
Supercharge your order books with aggregated liquidity.
NEXUS AutoChart

NEXUS AutoChartData-Driven
Chart Synthesis
K-line plotting with global price discovery.

NEXUS CoreAutomated Market Making
Highly customizable with
full in-house control.
NEXUS Native

NEXUS NativeAltcoin / Native Token
Liquidity Management
Market making and capital management system.

We enable businesses to participate in a decentralized future with minimal inertia.

Managed ServiceSo you can focus on your core business

SeamlessIntegrate blockchain into your current infrastructure


Free Consultancy

Free ConsultancyAllow us to understand your business to customize the perfect fit for your needs.

Schedule a Meeting

NFT Marketplace

NFT MarketplaceLaunch your fully branded NFT marketplace x social media platform.
Asset Tokenization

Asset Tokenization PlatformLaunch your tokenized assets complete with an APP, CRM and Explorer with our plug-and-play platform.

Blockchain-in-a-BoxIndustry-agnostic data
integration on chain for
experimental implementation.
Whitepaper Creation

Whitepaper CreationCraft a professional whitepaper complete with project and
technical advisory.
Enterprise Development

Enterprise DevelopmentTailored, end-to-end solutions
and consultancy for non-disruptive blockchain implementation.

DeFi Yield Farming

DeFi Yield Farming Advanced DeFi Farming Solution
DeFi Arbitrage Bot

DeFi Arbitrage BotAutomated DeFi Arbitrage System
DeFi Lending

DeFi LendingDecentralized Lending-Borrowing Platform

DeFi DEX AMMDecentralized Exchange and AMM

DeFi StakingTailored Staking Platform Solutions

Token VestingRobust Token Distribution System

Market Making (MM) VS Straight-Through Processing (STP) for Crypto Exchange

Tuesday, February 16, 2021

Market making and STP are different ways in which orders are processed in the financial markets. It dictates how brokerages operate and their business model. Similarly, in the case of crypto exchanges, orders need to be processed. Prior to 2020, exchanges are limited to market making models to create orders for their users due to the absence of an STP option.

However, with the maturing tech landscape in crypto, STP is now made possible, enabling exchanges to pass organic trade orders to an upstream liquidity pool. The following examines how each model works and the role it plays for crypto exchanges.

What is Market Making?

Market making is an activity that creates a healthy and active market for both buyers and sellers by submitting both bid and ask limit orders on a crypto exchange. Market makers place multiple limit orders and wait for traders to match their market orders. By citing rates both for buying and selling an asset, market makers “make a market.” The market maker thus functions as both a buyer and seller where there would normally be no other buyer or seller, thus providing liquidity.

What is Straight-Through Processing? (STP)

In general, the Straight-Through Processing (STP) model is a fully automated dealing system done purely through electronic transfers with no manual intervention involved. They are referred to as an NDD or No Dealing Desk model because the orders do not run through a dealing desk. In the context of forex, this mechanism is sometimes referred to as the brokerage model of A-Book forex.  The STP system operates by electronically processing each transaction and directly and anonymously entering it into a community of participants in the Interbank markets, i.e., liquidity providers, for execution at competitive prices.

Market Making in Crypto Exchanges

In the crypto exchange, the first way of handling orders is by organic order book, where the matching engine matches buyers and sellers within the exchange. But to boost liquidity, market making is the predominant way exchanges use to process orders. The market maker’s objective is to provide liquidity, tighten the spread between trading pairs, and promote the volume of the order book. The use of a market maker will facilitate price discovery and the successful fulfilment of orders. Healthy order books, in turn, increase the level of confidence of investors in the exchange, building confidence that is crucial in such a volatile space. However, the main problem faced by market makers comes from a liquidity crunch, where the prices of assets can vary significantly across multiple exchanges due to their decentralized nature. Users might have to sell their bitcoins cheaper or buy them more expensively than they would usually do on other, bigger exchanges due to price discrepancies between multiple exchanges.

STP in Crypto Exchanges – A Parallel to FX Interbank Liquidity

NEXUS 2.0 Industry’s First Crypto STP Built for Exchanges

The NEXUS 2.0 STP engine introduces the choice/option of STP order processing to Crypto Exchanges in addition to organic order books and synthetic market making.

Crypto orders can be processed upstream to a larger liquidity pool with enhanced risk management via STP through NEXUS 2.0, a proprietary liquidity aggregator and STP (Straight-Through Processing) engine that connects crypto exchanges to the aggregated liquidity pool of the industry’s largest players. As price quotes are pulled from several top exchanges, as opposed to a single source of liquidity, this results in higher quote frequency for more detailed charts, multiple liquidity tiers for large orders execution and ultra-tight spreads for cost-effective trading.  There are also lower risks involved, due to NEXUS 2.0 playing an intermediary role to avoid any conflict of interest with traders.

By elevating crypto trading to the standards of forex-grade liquidity, the NEXUS liquidity network sets the foundational infrastructure for inter-exchange liquidity – a parallel to interbank FX liquidity.

Schedule a Demo to experience how NEXUS 2.0 streams real-time prices from the industry’s top exchanges direct to your Orderbook.

Simply indicate your preferred timing here:

For more information on Broctagon’s NEXUS 2.0 offerings, head to

About Broctagon Fintech Group

Broctagon Fintech Group is a leading multi-asset liquidity and full suite FX technology provider headquartered in Singapore with over 10 years of established global presence in Hong Kong, Malaysia, India, Cyprus, Thailand, and China. We specialize in performance-driven and bespoke solutions, serving clients across more than 500 countries with our liquidity aggregator technology, brokerage, and exchange solutions suite, as well as enterprise blockchain development.

Hello there future partner! Simply complete this form and hit submit. Our team will be reaching out to you shortly.

We understand every business is different. That is why our vast range of products
and services are all customizable and we are always happy to give you a demo.

WordPress Video Lightbox Plugin