Setting Up a Market Maker Programme on a New Exchange
An exchange's MM programme is the contract with the firms that will quote your book. Most are written backwards — rebates first, KPIs second, application last. We do it the other way.
Book a 30-min call with a partner →Confidential · No obligation
- Tier ladder
- VIP · MM · MM+ equivalent
- Rebate floor
- Negative on application
- KPI matrix
- Per-pair, monitored in real time
- Application
- Documented, defensible
Start with the KPI matrix
Spread band, depth at ±50bps and ±200bps, uptime threshold, and minimum monthly maker volume. Build the rebate ladder against this, not against headline copy from other venues.
Frequently asked
Do MMs really apply to small new exchanges?
Yes, when the application is professional and the terms are real. A credible programme attracts at least two tier-2 firms within 60 days of launch.
Talk to a partner
Live decision on the table?
Licensing, market structure, MM panel design, listings framework, or institutional onboarding — direct partner time, no pitch deck.