Gemini Clearing™ allows two parties to settle a trade off of the continuous order book. After the parties negotiate the terms of the trade, the initiator may submit the order on the Web UI, or via our REST API or FIX API. The initiator has the option to use the opposing party’s ‘counterparty ID’ to ensure that only the specified counterparty may fill the trade.
Once the order is placed, the counterparty must confirm the order before the expiration time, which is set by the initiator. After the counterparty confirms the order, each party has until the expiration time to post the funds necessary for settlement in their Gemini account.
If the funds are already in each party’s account, then the trade will settle.
*For more details, please reach out to firstname.lastname@example.org