Broker-Dealer Partners

Liquidity.io provides white-label and direct integration for registered broker-dealers. This guide covers API access, account structures, compliance integration, settlement, market data, and regulatory reporting.

API Access

Broker-dealer partners can connect via three protocols depending on latency requirements and existing infrastructure.

All protocols provide the same order management capabilities: new orders, modifications, cancellations, and trade queries. Market data is available via REST polling or WebSocket streaming.

Authentication

BD partners authenticate via Hanzo IAM (hanzo.id) with institutional credentials:

POST https://hanzo.id/api/login/oauth/access_token
Content-Type: application/x-www-form-urlencoded

grant_type=client_credentials&client_id={bd_client_id}&client_secret={bd_client_secret}&scope=trading+market_data+reporting

Tokens expire after 2 hours. Use refresh tokens for long-running sessions.

Account Structure

Omnibus Accounts

BD partners can operate an omnibus account that aggregates client positions under a single ATS account. The BD is responsible for sub-allocation and client-level recordkeeping.

Individual Accounts

For fully-disclosed arrangements, each end client has a separate account on the ATS with individual KYC/AML compliance.

Institutional Accounts

For hedge funds, family offices, and asset managers:

Compliance Integration

Pre-Trade Checks

All orders from BD partners pass through the same CEX compliance pipeline:

1. Sanctions screening -- OFAC/EU/UK/PEP check on the beneficial owner
2. Jurisdiction validation -- 30+ supported countries
3. Accreditation verification -- for Reg D/CF offerings
4. Position limits -- per-account and per-asset limits
5. Offering-type gating -- Reg D 506b/c, Reg CF, Reg S, Reg A+ rules

BDs can optionally provide pre-cleared orders with a bdPreCleared: true flag, which bypasses redundant sanctions checks (the BD attests to having performed equivalent screening). Accreditation and offering-type checks always run.

Reporting Feeds

BD partners receive real-time compliance event feeds:

Settlement

Equities

• T+1 settlement via NSCC/DTC through the clearing broker
• DVP (Delivery vs. Payment) for institutional trades
• Affirmation/confirmation via DTCC CTM

Crypto

• Instant settlement upon trade execution
• On-chain settlement for direct wallet withdrawals
• Custody options: BitGo, Fireblocks, or Liquidity.io custodial wallet

Fiat Funding

Market Data

Redistribution Rights

BD partners with a market data agreement can redistribute Liquidity.io market data to their end clients. Redistribution includes:

• Real-time L1 quotes (last, bid, ask, volume)
• L2 order book depth (10 levels)
• Historical OHLCV data (1m, 5m, 15m, 1h, 1d intervals)
• Trade tape (time and sales)

Redistribution requires a signed market data agreement. Contact [email protected] for terms.

Data Feeds

Regulatory Reporting

BD partners receive access to regulatory reporting data for their accounts:

All reports are generated by the reporting service (liquidityio/cex/pkg/reporting) and are available via the REST API or SFTP delivery.

Onboarding

1. Application -- Submit BD application with CRD number and clearing arrangement
2. Due diligence -- Liquidity.io reviews BD registration, FINRA membership, compliance program
3. Technical integration -- Receive API credentials, FIX session config, or co-location setup
4. UAT -- Test in sandbox environment (api.dev.satschel.com)
5. Go-live -- Production credentials issued after successful UAT

Typical onboarding: 5 business days for API, 2-3 weeks for FIX or co-location.

Contact

• Partnerships: [email protected]
• Technical support: [email protected]
• Co-location and dedicated connectivity: [email protected]