{"license":"CC-BY-4.0","licenseUrl":"https://creativecommons.org/licenses/by/4.0/","attribution":"ChainChoice (https://chainchoice.io)","category":"institutional_execution","evidenceReadAt":"2026-09-28","generatedAt":"2026-11-12","criteria":[{"id":"pre_nda_documentation_surface","label":"Can I actually read your documentation before I sign your NDA?","weight":30},{"id":"operational_transparency_and_incident_history","label":"When your system goes down, will I find out from you — or from my own blotter?","weight":25},{"id":"venue_claims_verifiability","label":"You say you connect to 100+ venues — can I check that anywhere you don't control?","weight":25},{"id":"commercial_and_identity_disclosure","label":"Who am I contracting with, who pays you — and will anyone name a price before the sales call?","weight":20}],"providers":{"finery_markets":{"pre_nda_documentation_surface":{"s":9,"q":"Places a new order (GTC one or with synthetic instrument) | Returns a snapshot of the specified order book with max 25 levels on each side | Trade using RFQ with select liquidity providers | Global book feed, returns only first 25 book levels","u":"https://faq.finerymarkets.com/llms.txt","d":"2026-09-28"},"operational_transparency_and_incident_history":{"s":7,"q":"\"lastDowntime\":{\"date\":\"2026-09-11 20:49:43\",\"duration\":1742,\"reason\":\"Incident detected\"} | \"hasIncidentComments\":false","u":"https://status.finerymarkets.com/api/getMonitorList/EK9Y1hW5oR","d":"2026-09-28"},"venue_claims_verifiability":{"s":7,"q":"OTC liquidity providers and leading crypto exchanges connected to the network | Trusted by global partners | /assets/img/d_dv-chain.png | /assets/img/d_finchtrade.png","u":"https://finerymarkets.com/space/","d":"2026-09-28"},"commercial_and_identity_disclosure":{"s":8,"q":"Software Usage Fees are charged for access to, and use of, Finery Markets’ software and infrastructure. | The Maker Software Usage Fee is 0.01% (1 bps) of the trading turnover in US dollars. | Finery Markets is not a party to any such arrangements","u":"https://finerymarkets.com/tariffpolicy.html","d":"2026-09-28"}},"coinroutes":{"pre_nda_documentation_surface":{"s":1,"q":"Slices orders evenly over a time horizon using Smart Post logic to minimize impact, lower costs & better match the benchmark. | Direct Market Access","u":"https://www.coinroutes.com/product/","d":"2026-09-28"},"operational_transparency_and_incident_history":{"s":9,"q":"MD Distribution UI, Market Data Plan, and 5 other services are down | Sep 24, 2026 at 4:28pm UTC | Market Data Plan recovered. | 68 previous updates | 0.000% uptime | 99.822% uptime","u":"https://status.coinroutes.com/","d":"2026-09-28"},"venue_claims_verifiability":{"s":8,"q":"60+ Exchanges Connected | Connect to over 60 exchanges and liquidity providers through a single interface. | alt=\"Bullish\" | alt=\"Bitstamp\" | alt=\"Wintermute\" | alt=\"Crypto.com\"","u":"https://www.coinroutes.com/product/integrations/","d":"2026-09-28"},"commercial_and_identity_disclosure":{"s":3,"q":"Ready to transform your digital asset trading? Enter your email and we'll set up a demo. | Schedule Your Private Demo","u":"https://www.coinroutes.com/contact/","d":"2026-09-28"}},"sfox_ems":{"pre_nda_documentation_surface":{"s":9,"q":"sFOX offers feature-rich REST, WebSocket, and FIX APIs to access market data, manage your account, and create/cancel orders.","u":"https://docs.sfox.com/","d":"2026-09-28"},"operational_transparency_and_incident_history":{"s":1,"q":"Built for resilience, our global redundancy systems ensure 99.99% operational uptime and continuous access to liquidity, even through periods of extreme market volatility. | Ensure 100% uptime with global liquidity redundancy and failover systems","u":"https://www.sfox.com/","d":"2026-09-28"},"venue_claims_verifiability":{"s":3,"q":"Connect to 35+ liquidity providers through one account | 35+ liquidity providers, single connection | Access institutional crypto liquidity from 35+ providers.","u":"https://www.sfox.com/solutions/trading-execution/","d":"2026-09-28"},"commercial_and_identity_disclosure":{"s":7,"q":"When using the Services to buy or sell cryptocurrency through your sFOX Account, you are directly buying from, and directly selling to, sFOX. sFOX does not offer exchange or clearance services. | sFOX will retain such rebates as part of our overall compensation | sFOX, Inc., a Texas corporation","u":"https://www.sfox.com/terms/","d":"2026-09-28"}},"talos":{"pre_nda_documentation_surface":{"s":4,"q":"Once you onboard with Talos, you will have access to the Talos Knowledge Base, containing details on product features, quarterly release notes and how-to guides. In addition, Talos will provide your team with full API documentation.","u":"https://www.talos.com/faqs","d":"2026-09-28"},"operational_transparency_and_incident_history":{"s":1,"q":"We make no warranty that the Services will meet your requirements or be available on an uninterrupted, secure, or error-free basis.","u":"https://www.talos.com/legals/terms","d":"2026-09-28"},"venue_claims_verifiability":{"s":8,"q":"Connect to 100+ digital asset liquidity & service providers | Over 100 integrated providers across 13 categories, accessible via UI or API. | alt=\"Deribit\" | alt=\"Bitstamp\"","u":"https://www.talos.com/provider-network","d":"2026-09-28"},"commercial_and_identity_disclosure":{"s":7,"q":"Talos does not provide clients with any pre-negotiated arrangements with liquidity providers or other parties. | Talos is not party to any of these arrangements. | Talos Global, Inc.","u":"https://www.talos.com/faqs","d":"2026-09-28"}},"elwood":{"pre_nda_documentation_surface":{"s":1,"q":"Built API-first on REST, WebSocket and FIX. Submit, modify and monitor orders programmatically with the same coverage as the interface, or use our configurable workspaces, shortcuts and hotkeys for high-touch trading.","u":"https://www.elwood.io/platform/execution-management","d":"2026-09-28"},"operational_transparency_and_incident_history":{"s":1,"q":"24/7/365 | Global Support","u":"https://www.elwood.io/","d":"2026-09-28"},"venue_claims_verifiability":{"s":8,"q":"The platform connects to the following exchanges via direct integration | alt=\"EDXM Logo\" | alt=\"Deribit Logo\" | The platform connects to the following liquidity providers via direct integration. | alt=\"Wintermute Logo\"","u":"https://www.elwood.io/partner-network","d":"2026-09-28"},"commercial_and_identity_disclosure":{"s":7,"q":"Elwood Technologies LLP is authorised and regulated by the Financial Conduct Authority (FRN 989174), and incorporated in England with registered number OC435887. | You can verify our authorisation on the FCA Financial Services Register at https://register.fca.org.uk","u":"https://www.elwood.io/","d":"2026-09-28"}},"wyden":{"pre_nda_documentation_surface":{"s":2,"q":"Wyden provides a platform User Guide, REST API documentation and Inbound FIX API documentation through its documentation resources. Access to some technical documentation may be provided to customers and implementation partners.","u":"https://www.wyden.io/faq/","d":"2026-09-28"},"operational_transparency_and_incident_history":{"s":2,"q":"24/7 monitoring to ensure uninterrupted and secure operations | High availability with built-in business continuity","u":"https://www.wyden.io/","d":"2026-09-28"},"venue_claims_verifiability":{"s":5,"q":"connecting with Wyden’s leading network of 65+ exchanges, brokers and OTC desks | alt=\"Deribit by Coinbase logo\" | alt=\"Wintermute logo\" | alt=\"Bullish logo\"","u":"https://www.wyden.io/","d":"2026-09-28"},"commercial_and_identity_disclosure":{"s":6,"q":"Wyden Infinity is available through secure SaaS and dedicated Managed Service deployment models. | Yes. Banks, brokers and other financial institutions can request a tailored consultation and demonstration. | Letzigraben 89","u":"https://www.wyden.io/faq/","d":"2026-09-28"}}}}