Market making
Your firm makes the market. Your firm keeps the book.
Market making on Sylgate is a desk that sits on the trade lifecycle — not a separate franchise product. Quotes, inventory, and fills write to the same book of record as every other trade, so confirmation, settlement, and evidence follow automatically.
On the lifecycle
Quotes become trades like any other.
Two-sided markets
Resting bids and offers with prices in the instrument’s own tick size, within the spread your firm has set. Pull selected quotes or pull the whole book.
Into the book of record
When a quote is filled, the trade joins the same lifecycle as any other — inventory, profit and loss, and audit trail included.
Your own liquidity book
You are the market maker. Trading profit stays with the people who take the risk — it is not shared with a house desk that owns the book.
Desk walkthrough · Open recording
Start a market-making firm
How you stand it up — and what you keep.
These are the steps to open a market-making firm on Sylgate, and the benefits that firm receives at each stage. The product is still the trade lifecycle; market making is how your firm provides liquidity on that same book.
- 01Form the firm as your own market makerYou incorporate or designate a market-making entity that will quote under its own name. Benefit: you are the liquidity provider, not a salaried seat on someone else’s book.
- 02Put capital behind the obligationYou decide which instruments you will make markets in, and you set the spread, size, and inventory limits the firm will honour. Benefit: the risk parameters are yours — enforced on every quote before it rests.
- 03Open the desk on SylgateYour firm’s quotes, inventory, and fills sit on the Sylgate trade lifecycle from day one. Benefit: you do not buy a separate execution system, risk blotter, and middle-office archive just to open.
- 04Post two-sided markets under your nameBids and offers go out as your firm. Prices step in each instrument’s own tick size. Benefit: clients see your name on the market; the franchise value of that name stays with you.
- 05Run and reprice the book yourselfSee every working quote, move bid and offer together or by side, pull selected names or pull the whole book. Benefit: one trader can supervise a multi-name book without a house operations team behind the screen.
- 06When you are filled, the trade joins the lifecycleFills write to the same book of record as any other trade — confirmation, settlement status, marks, and audit included. Benefit: market making does not create a second operating stack.
- 07Keep the trading profitOn a house desk you take salary and bonus while the firm keeps the rest of the book. Benefit: here the trading profit stays with the people who take the risk, after the firm’s own running expenses.
- 08Pay no partnership cut for the right to quoteYou are not renting a seat on another market maker’s platform. Benefit: no technology levy or desk share paid to someone else’s business for permission to run the names.
- 09Carry evidence with every quote and fillWho quoted, who was filled, and how inventory moved sits on the same record as the trade. Benefit: ops, finance, and audit already have the trail — you do not rebuild it later.
- 10Scale the franchise on the same spineAdd instruments and deepen the book without inventing a new system per name. Benefit: growth extends your firm’s own market-making franchise on one consolidated lifecycle, not a silo bolted on for liquidity alone.
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