Where liquidity fits
Liquidity arrangements concern execution-side access and pricing. They are separate from the client-facing CRM and platform branding layers.
Commercial and technical questions
Brokerages should understand counterparties, products, pricing, connectivity, risk arrangements and technical dependencies before implementation.
Integration dependencies
Depending on the setup, bridges or other connectivity layers may sit between trading infrastructure and liquidity relationships.
Do not treat technology as due diligence
Technical connectivity does not replace counterparty, legal, financial or regulatory due diligence on a liquidity arrangement.
Separate the commercial review from the connection test
When a liquidity connection is part of the proposed stack, prepare two workstreams: the business review of the provider arrangement and the technical review of the interface. A successful connection does not answer questions about service ownership, commercial scope or business suitability.
| Area | Question for the project team |
|---|---|
| Scope | Which instruments and account groups are covered by the proposal? |
| Interface | Which protocol or connector is supplied, and by whom? |
| Monitoring | How are stale data, disconnects and rejected requests identified? |
| Recovery | Who decides how to handle an interruption or reconcile records? |
| Support | Which team is accountable for each part of the connection? |
Record the answers in the same project plan used for the platform and bridge. Ask for an operational demonstration and clear escalation routes. Any advertised data or execution characteristic should be assessed against the actual provider agreement and your independent business review.
Read where a bridge fits and how to map stack dependencies.