B2CONNECT Update: Internal Risk Warehousing, Synthetic Price Integrity, and a Smarter Web Experience

The evolution of B2CONNECT, our crypto-native liquidity hub, continues into the September release — one of our most significant updates to date.

Following the introduction of transparency and STP enhancements in August’s release, this update focuses on risk control, liquidity optimisation, and smarter administration.

Here’s a quick look at the major upgrades now live:

• B-Book & C-Book: Full and partial risk internalisation for smarter execution.
• Synthetic Price Invalidation: Consistent protection against stale quotes across all assets.
• Connector-Based Setup: Streamlined liquidity configuration workflow.
• Modern WebUI & SSO: Faster, safer, and easier administration.
• AMS CSV Tools: Quick import/export for margin and commission profiles.
• Asset Safeguards: Built-in checks for data integrity.
• Contract Size Fix: Accurate parameter calculations for derivatives.

Let’s explore how these upgrades strengthen your liquidity operations.

Full Risk Internalisation (B-Book): Capture More Value in Every Trade

The September release brings full risk internalisation (also known as B-Book execution) to B2CONNECT. This capability lets brokerages execute selected symbols entirely within the hub, without routing every trade to an external liquidity provider.

The setup is simple and flexible. Administrators can enable internal execution per symbol or manage entire groups through CSV — perfect for large, fast-moving environments. This allows teams to choose exactly where internal execution makes commercial sense, optimising profitability without sacrificing control.

With precise, per-symbol execution management, B2CONNECT turns internalisation into a strategic advantage. The outcome: stronger trading margins, fewer external dependencies, and a clearer understanding of where your risk truly lies.

Partial Risk Internalisation (C-Book): Balance Hedging and Internal Control

To complement full internalisation, B2CONNECT now introduces partial risk internalisation (C-Book) — a flexible hybrid model that blends external hedging with internal execution.

Through the new Hedge Ratio setting, brokers can decide exactly how much exposure to hedge externally — from 0% (full B-Book) to 100% (full A-Book). Within that range, the system automatically mirrors external fills for the internal portion, ensuring identical pricing and quantities across both sides.

The benefits are immediate: reduced commission costs, lower slippage, and full transparency over risk allocation. Both market and limit order types are supported, ensuring consistent execution across all flows.

In practice, C-Book gives brokers the freedom to adapt their risk strategy in real time — internalising part of the flow when spreads are wide, or shifting more exposure externally when liquidity conditions change.

It’s a smarter, more agile way to balance risk and profitability in volatile markets.

Synthetic Price Invalidation: More Reliable Market Data Across All Symbol Types

Accurate pricing is the backbone of any reliable trading environment. With this release, B2CONNECT extends its invalidation logic to synthetic symbols, ensuring that both real and synthetic markets follow the same integrity rules.

If any leg of a synthetic pair stops receiving quotes from a liquidity provider, the system now automatically resets the order book for that pair and broadcasts a price-invalidation signal to all connected platforms and consumers.

This guarantees that outdated or incomplete data is instantly removed from your feed, keeping synthetic pairs as precise and trustworthy as their organic counterparts.

Connector-Based Liquidity Configuration: Clearer, Faster, and Easier to Manage

Liquidity setup in B2CONNECT just became far more intuitive. We’ve moved away from a single global CSV file to a connector-based configuration flow, giving every incoming connection its own structured and transparent setup.

Administrators can now:

• Upload bulk assets and map them automatically to their liquidity providers.
• Match symbol listings between makers and the hub with one click.
• Adjust quoting parameters per connector directly via CSV.

This new approach not only makes onboarding much faster but also reduces setup errors and gives a clear overview of each liquidity stream — perfect for complex, multi-provider environments.

Modern WebUI and SSO: A Unified, Smarter Admin Experience

This update brings a fresh, modernised WebUI with a focus on usability and security. The redesigned admin panel streamlines navigation, enhances data visibility, and introduces standards-based Single Sign-On (SSO) to unify authentication across all environments.

Key enhancements include:

• Streamlined Navigation: A cleaner layout makes it easier to find key sections like Liquidity, Symbols, Accounts, and Settings.
• Notifications and Settings: Notifications and global parameters are now under Hub Settings.
• Wider Data Tables: Expanded tables show more information at a glance, reducing clicks.
• Redesigned Sidebar: Rebuilt navigation reflecting a clearer information architecture.
• Secure SSO: One identity provider for all users, ensuring secure, consistent access without changing how end users log in.

Altogether, these updates deliver a faster, more intuitive admin experience, letting teams manage configuration changes instantly without waiting for developer support.

AMS (Account Management System) Profiles: Configure in Minutes with CSV Import/Export

Managing hundreds or even thousands of entries within margin and commission profiles no longer needs to be manual. The CSV import/export wizard now lets administrators export all AMS profiles, edit them in bulk, and re-upload them with a single click.

The wizard automatically validates your data and flags errors before applying changes, ensuring accuracy and consistency across all profiles. For brokerages with large, multi-asset setups, this means less time spent configuring, more time focusing on trading operations.

Asset Management Safeguards: Built-In Protection for System Integrity

B2CONNECT now includes built-in safety checks that prevent the deletion of assets currently referenced elsewhere in the system. These new safeguards ensure data integrity and prevent accidental misconfigurations that could disrupt operations.

Fix: Contract-Size Multiplier Corrections for Derivatives

We’ve also addressed an important fix for instruments with contract-size multipliers. All trading parameters (including minimum order size, price steps, and notional values) now correctly reflect contract multipliers in the FIX SecurityList.

This ensures total precision for derivatives trading, where the contract unit and underlying asset may differ. Your traders and connected platforms can now rely on accurate parameters and cleaner reporting across all derivative products.

Building a More Intelligent Liquidity Hub

The September release strengthens B2CONNECT across every layer — from risk management and internal execution to data integrity and operational efficiency.

Our teams are already working on the next set of performance and reporting improvements aimed at further streamlining execution logic and expanding multi-asset coverage.

Stay tuned for the next chapter in B2CONNECT’s evolution!