www.engima-securities.

io
 ABOUT ENIGMA SECURITIES,
FULLY OWNED AND APPOINTED REPRESENTATIVE OF MAKOR SECURITIES

Makor Securities: Enigma Securities:

Makor Securities Ltd was established in 2011 by Michael Enigma Securities Limited is an Appointed Representative
Halimi and Avi Bouhadana to provide bespoke advice (FCA Ref no: 810786) of Makor Securities London Limited
and execution to leading institutional investors in Equity, which is authorized and regulated by the Financial
Fixed Income, FX and specialized trading strategies. Conduct Authority (FCA Ref no: 625054).

Makor supports more than 500 clients with original, Enigma is bound by Makor's comprehensive Anti-Money
innovative ideas in stocks and trading, offering a Laundering (AML) procedures as well as its other relevant
dedicated focus on risk. compliance policies in place from time to time.

Makor, a group of 120 specialized brokers in 7 offices in Enigma Securities is specialized in institutional sized
the main financial places: London, New York, Chicago, liquidity for the cryptocurrency markets. Enigma’s access
Paris, Geneva, Singapore, Tel Aviv. to this unique client network ensures the liquidity
necessary to execute even the largest block trades with
Makor has been ranked number ONE independent minimal market impact.
Special Situations brokerage firm by industry leading
survey Thomson Extel in 2016, 2017 and 2018, ahead of We provide liquidity for main cryptocurrency assets
most of the largest investment banks. (Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple,
Ethereum Classic…).
 BLOCK TRADE FACILITIES AND SERVICES

Facilities: Benefits our Services:

Enigma Securities organizes and facilitates OTC Block trade We provide clients with a single point of contact, from the
transactions and arranges for its diligent settlement. Both, negotiation phase through execution and settlement.
Buyer and Seller are onboarded as customers of Enigma.
Our experience and vast network of professionals,
reaching from OTC crypto trading desks to traditional
Enigma Securities has a clearing and custody agreement in banks help clients determine the right deal to do and
place with a large highly reputable banking trust assist them in doing the deal right.
corporation in the US, a qualified custodian, which allow us
to trade for any institutional client Fiat vs Crypto and Enigma applies Makor’s compliance monitoring program
Crypto vs Crypto. where applicable and regularly reviews amongst other
things its solvency and liquidity. Our KYC and AML
procedures comply with the highest standard in UK and
The terms of the transaction will be covered by an OTC US.
agreement, specifying all contract details and covenants
like amounts, rates and fees as well as relevant for the We offer a worldwide coverage with 24/7 crypto market
successful execution and the settlement of the access.
transaction.

Enigma Securities www.engima-securities.io

 ENIGMA SECURITIES

✓ Enigma is a financial intermediary available to institutional and qualified investors that executes orders
through trading algorithms and principal liquidity.

✓ By doing so, we are able to draw on the liquidity of the world’s top exchanges and to offer optimized time-
to-market order execution. The crypto assets bought can be either securely stored at the broker or sent
directly to the client’s personal wallet.

✓ Orders are taken via Phone, E-Mail and Bloomberg. Automatic generation of tailor-made reports is
provided, depending on the clients needs.

Daily Liquidity Transparency Convenience

Enigma is highly liquid Every fee, including Using an aggregator
and provides rapid exchange and brokerage simplifies investments into
order execution fees, is disclosed, providing a crypto assets.
maximum degree of
transparency
Security
Enigma is only cooperating Professionalism and Trust Reliability
with well-known exchanges The team has several years Enigma offers best execution
of experience and is familiar
with the expectations of a
professional investor
ENIGMA SECURITIES OFFERS A DEEP ORDERBOOK, PERSONALIZED TRADING SUPPORT
AND COMPETITIVE PRICING

Access Enigma Securities’ global network of clients across over 100 countries.
With teams in New York, London and Paris, we are a leading liquidity provider
DEEP LIQUIDITY in cryptocurrencies, with deep OTC liquidity.

Most OTC trades will settle same-day. Our trading and settlement processes
provide a streamlined experience for even the largest institutional trades,
FAST SETTLEMENT allowing efficient capital management.

Strict regulatory oversight, global AML/KYC compliance and 100% offline

HIGH REGULATORY AND bitcoin cold storage ensure our platform and client assets are secure.
SECURITY STANDARDS

Work privately with one of our experienced traders straight through

settlement and have access to our Cryptocurrency market research.
PERSONAL TRADING SUPPORT
 OTC TRADE DESCRIPTION: 3 MAIN STEPS

BUYER
▪ This company or ▪ Receives
individual will provide Crypto
all materials deposit in his
necessary to onboard wallet(s), at
as a client of Enigma KYC AML REVIEW OTC AGREEMENT TRADE EXECUTION his own
Securities which is wallet(s)
part of the KYC Both parties will Parties agree on Trade is executed
process undergo full KYC conditions: according to the
and AML screening -reference price(s) terms agreed
to onboard and -amount(s)
SELLER become clients of -fee(s) Trade is settled and
Enigma Securities -further covenants cleared via our
▪ This company or Custodian&Clearing ▪ Receives Fiat
individual will provide partner on Delivery deposit at
all materials versus payment his bank via
necessary to onboard basis Enigma’s
as a client of Enigma account
Securities which is
part of the KYC
process
1st STEP: ONBOARDING VIA KYC/AML REVIEW

Both parties will undergo full KYC and AML screening to become clients of Enigma Securities

BUYER SELLER

✓ This company or person will provide all ✓ This company or person will provide all
documentation necessary to onboard as a materials necessary to onboard as a client of
client of Enigma Securities during an in-person Enigma during an in-person meeting which is
meeting which is part of the KYC process part of the KYC process

✓ The materials will be reviewed by the ✓ The materials will be reviewed by the
Compliance team of Enigma Securities in Compliance team of Enigma Securities in
abidance will all rules and guidelines set forth abidance will all rules and guidelines set forth
in the AML rulebook. in the AML rulebook.

✓ The party will be screened against PEP and ✓ All wallets addresses involved in the deal will
Sanctions lists to determine its risk be thoroughly screened using Enigma’s analysis
classification status systems for exposure to tainted sources
 2nd STEP: OTC AGREEMENT

Both parties will be responsible for providing the terms of the OTC agreement to Enigma Securities

PRICE OR/AND REFERENCE SOURCE DATE AND TIME

Parties may select Enigma to get a quoted price and Parties may select, and agree upon, a desired
also may also specify a different reference source, time(s) of execution. Enigma Securities offers
which will be incorporated into the contract. 24/7 market access service.

COMMISSIONS FOR INTERMEDIARIES PREMIUMS AND DISCOUNTS

Parties must outline the terms of compensation for Any differences in the pricing such as premiums
any intermediaries, introducers and agents prior to and discounts are to be communicated to
executing the deal. Enigma, and must be included in the contract.
3rd STEP: ENIGMA SECURITIES HAS PARTNERED: A US BANK TRUST, FOR SETTLEMENT,
CLEARING AND CUSTODY SOLUTIONS
➢ Pioneer in Digital Currency Custody

Compliant with rapidly

First in market to provide Delivers secure, scalable
changing regulatory
digital asset custody custody solutions
environment

➢ Providing Cold Storage Solution utilising BitGo offline Vault Technology

• Providing multi-signature encryption and multi-factor authentication

• Adapting to the most rigorous industry standards

• Offering the ability to safely store private keys offline

• Ability to set wallet level policies to establish transaction boundaries

 OTC TRADE LIFE CYCLE – CLIENT BUY BTC VS USD (D+3)

KYC/AML CLIENT
REVIEW ONBOARDED

CLIENT SENDS $ TO ENIGMA’S FIAT $ KT SENDS CLIENT $ RECEIVAL STATUS

ACCOUNT @ WELLSFARGO VIA KT CONFIRMATION TO ENIGMA

✓ ENIGMA LOOKS FOR BEST PRICE OFFER ON

KT USES WELLSFARGO FOR MARKET
THE FIAT USD ACCOUNT
✓ CLIENT AND ENIGMA AGREE WITH BTC NET
PRICE
KT SENDS BTC FROM BITGO WALLET
BTC SEND TO ENIGMA’S WALLET @
TO CLIENT’S WALLET
BITGO VIA KT

KT USES BITGO FOR THE

BitGo SECURITY WALLET SOLUTION

CUSTODIAN & CLEARING HOUSE ENIGMA HAS FIAT $ ACCOUNT VIA KT @WELLSFARGO
KINGDOM TRUST DOES THE SETTLEMENT ENIGMA HAS BTC WALLET VIA KT @ BITGO ENIGMA
KT SENDS BTC TO BUYER ACCOUNT KYC/AML BUYER AND SELLER
KT SENDS $ TO SELLER ACCOUNT

KINGDOM TRUST USES BITGO FOR ITS WALLET AND KINGDOM TRUST USES WELLSFARGO FOR ENIGMA’S FIAT
SECURITY SOLUTION
BitGo BITGO PROVIDES MULTI-SIGNATURE ENCRYPTION
USD ACCOUNT
AND MULTI-FACTOR AUTHENTICATION
OTC TRADE LIFE CYCLE – CLIENT SELL BTC VS USD (D+3)
KYC/AML CLIENT
REVIEW ONBOARDED

CLIENT SENDS BTC TO ENIGMA’S KT SENDS CLIENT BTC RECEIVAL

WALLET ACCOUNT @ KT CONFIRMATION TO ENIGMA

✓ ENIGMA LOOKS FOR BEST PRICE

KT USES BITGO FOR THE
BitGo SECURITY WALLET SOLUTION
ON MARKET

✓ CLIENT AND ENIGMA AGREE WITH

BTC NET PRICE
USD SEND TO ENIGMA’S ACCOUNT
@ WELLSFARGO VIA KT

KT SENDS USD TO CLIENT’S BANK

ACCOUNT

KT USES WELLSFARGO FOR

THE FIAT USD ACCOUNT

CUSTODIAN & CLEARING HOUSE ENIGMA HAS FIAT $ ACCOUNT VIA KT@ WELLSFARGO
KINGDOM TRUST DOES THE SETTLEMENT ENIGMA HAS BTC WALLET VIA KT @ BITGO ENIGMA
KT SENDS $ TO SELLER ACCOUNT KYC/AML BUYER AND SELLER
KT SENDS BTC TO BUYER ACCOUNT

KT USES BITGO FOR ITS WALLET AND SECURITY KINGDOM TRUST USES WELLSFARGO FOR ENIGMA’S FIAT
SOLUTION
BitGo BITGO PROVIDES MULTI-SIGNATURE ENCRYPTION
USD ACCOUNT
AND MULTI-FACTOR AUTHENTICATION
 ENIGMA
SECURITIES

FIRST GLOBAL 10 SPECIALIZED

PROVIDER OF CRYPTO BROKERS
CRYPTO

WORLDWIDE 24/7 MARKET LIQUIDITY

COVERAGE ACCESS PROVIDER

BETTER LIQUIDITY MORE

TRANSPARENCY

SECURED
CLEARING AND CUSTODIAN
HOUSE REGULATED SOLUTIONS
PROCESSES
 MICHAEL HALIMI
AVI BOUHADANA
(Majority Shareholders with 84%)

MAKOR HOLDING PTE. LTD.

(SINGAPORE)
100% 100% 100%

Makor Capital Markets SA Makor Capital Ltd.

Makor Partners Ltd. (Switzerland)
(UK) (Israel)
Regulated by FINMA

100%
Oscar Gruss and Son Inc. (US)
Regulated by SEC, FINRA

100% Makor Securities London Ltd.

(UK) Makor Securities Paris Branch
Regulated by FCA (France)

100%
Enigma Securities Ltd
(UK)
Appointed Representative
of Makor Securities
 CEO & FOUNDERS
Michael Halimi
[email protected]
Avi Bouhadana
[email protected]

CHIEF OPERATING
OFFICER
Josipa Deak
COMPLIANCE
[email protected] Natalia North
[email protected]

CRYPTO &
RESEARCH &
TRADING BLOCKCHAIN
SALES
Michael Halimi
EXPERT
Avi Bouhadana Paul Huang
Jordan Ettedgui
[email protected] [email protected]
Gregory Lafitte
[email protected]
Benjamin Zennou
[email protected]
Aliya Itzkowitz
[email protected]