Performance Index
Forgd Market Maker Performance Index Leaderboard
Last 30-dayData-driven Market Maker rankings derived from 500+ engagements, evaluating historical execution, reliability, and ecosystem integration.
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Forgd Market Maker Performance Index Leaderboard
Data-driven Market Maker rankings derived from 500+ engagements, evaluating historical execution, reliability, and ecosystem integration.
1
Flowdesk11 active engagements
Composite Score9.40
Median Engagements FDV$48.83M
Avg 2.00% Depth$296.53KRank: 10
Avg Spread0.31%Rank: 9
Avg Volume$1.78MRank: 1
2
GSR15 active engagements
Composite Score9.30
Median Engagements FDV$121.59M
Avg 2.00% Depth$545.57KRank: 3
Avg Spread0.01%Rank: 1
Avg Volume$441.08KRank: 5
3
Ampersan4 active engagements
Composite Score9.10
Median Engagements FDV$745.38M
Avg 2.00% Depth$461.43KRank: 5
Avg Spread0.15%Rank: 4
Avg Volume$229.67KRank: 10
Top Avg. (+/-) 2.00% Depth (30D)
Auros Global$1.01M
Highest Volume (Maker & Taker) (30D)Flowdesk$1.78M
Top Bid-Ask Spread (30D)GSR0.01%
Top KPI Adherence — Combined Uptime (30D)
JPEG Trading100%
Ranking
| Market Maker | ||||||||
|---|---|---|---|---|---|---|---|---|
| 1 | AA | Full | ||||||
| 2 | AA | Full | ||||||
| 3 | AA | Full | ||||||
| 4 | AA | Full | ||||||
| 5 | AA | Full | ||||||
| 6 | AA | Full | ||||||
| 7 | AA | Full | ||||||
| 8 | A | Full | ||||||
| 9 | A | Full | ||||||
| 10 | A | Full | ||||||
| 11 | A | Full | ||||||
| 12 | BBB | Full | ||||||
| 13 | BBB | Full | ||||||
| 14 | BBB | Full | ||||||
| 15 | BBB | Full | ||||||
| 16 | BBB | Full | ||||||
| 17 | BB | Full | ||||||
| 18 | BB | Full | ||||||
| 19 | BB | Full | ||||||
| 20 | BB | Full | ||||||
| 21 | BB | Full | ||||||
| 22 | BB | Full | ||||||
| 23 | CCC | Partial | ||||||
| 24 | CCC | None | ||||||
| 25 | CCC | None | ||||||
| 26 | CCC | None | ||||||
| 27 | CCC | None | ||||||
| 28 | CCC | Partial | ||||||
| 29 | CCC | None | ||||||
| 30 | CCC | None | ||||||
| 31 | CCC | None | ||||||
| 32 | CCC | Partial | ||||||
| 33 | CCC | Partial | ||||||
| 34 | CCC | Partial | ||||||
| 35 | CCC | None | ||||||
| 36 | CCC | None | ||||||
| 37 | CCC | None | ||||||
| 38 | CCC | None | ||||||
| 39 | CCC | None | ||||||
| 40 | CCC | None | ||||||
| 41 | CCC | None | ||||||
| 42 | CCC | None | ||||||
| 43 | CCC | None | ||||||
| 44 | CCC | None |
Definitions
GradeA simplified letter rating that reflects a market maker’s overall standing on the leaderboard. Grades are derived from the composite score and are designed to make performance easier to interpret without relying solely on individual numerical scores. Grades are measured AAA (highest) to CCC (lowest).
Composite ScoreThe weighted overall score used to rank market makers across the leaderboard. It reflects performance across trading KPIs, trust, coverage and capabilities, uptime, and integration level.
Trading KPIsMeasures historical execution quality across 500+ tracked engagements. This includes liquidity depth, trading volume, spread performance, and adherence to agreed-upon trading obligations.
TrustReflects Forgd's confidence in a market maker's observed performance. This is based on the number of tracked engagements and whether Forgd has identified potential trading abnormalities.
Coverage & CapabilitiesEvaluates the breadth of a market maker's exchange coverage, ecosystem reach, and broader service offering. This includes centralized and decentralized exchange connectivity, as well as services beyond standard liquidity provision.
UptimeMeasures a market maker's consistency in meeting contractual obligations across tracked engagements. This typically includes maintaining required depth, spreads, and availability across supported venues.
Integration LevelReflects the degree of connectivity between the market maker and Forgd's data systems. Higher integration levels provide greater visibility into tracked engagements, RFQ participation, and ongoing performance.
Data provided by Forgd. The content on this page is for informational purposes only and should not be construed as financial or legal advice.