Market Maker
Two-sided liquidity provider on the CeFi exchange; the same rails as trading firms, latency-sensitive.
Draft account model. The account structure behind this journey is still being finalized. The API surface is accurate; confirm how your own accounts will be set up with [email protected] before going live.
You provide two-sided liquidity on the True Markets CeFi venue. You trade the Trading Firms product on the principal account model — your own book, your own risk — with latency and fee tiers as the things you actually care about.
Account model: principal. One firm, one account, no downstream clients, verified with KYB.
Start with the team
None of this is self-serve. Before you can send an order:
- Apply at truemarkets.co/institution/get-started, or email [email protected].
- KYB — your firm is verified, not the individual traders on your desk.
- Network access — the venue isn't on the public internet, so your egress IPs are added to a VPN / PrivateLink allowlist.
- Credentials — HMAC keys for REST, session credentials for FIX.
- Certify in UAT against the FIX spec before trading live.
→ Access and credentials covers steps 2–5 in detail.
Then come back here
| what | where |
|---|---|
| The low-latency path, and repricing a resting quote | Trade over FIX |
| A full HTTP alternative, HMAC-signed per request | Trade over REST |
| REST and WebSocket feeds | Market data |
Session types, message specs, the TrueX_FIX50SP2.xml spec | FIX protocol |
Venue rules that shape your quotes
- Fee schedule — volume-tiered; the top maker bands are negative, a rebate paid to you.
- Price bands and increment sizes — constraints your quotes must respect.
- Rulebook — venue rules and obligations.