The Firi trading platform enables placement of limit orders through the advanced trade service. The service facilitates peer-to-peer trading of crypto-assets between customers. The trading platform brings together multiple buying and selling interests in crypto-assets and enables these interests to result in executed trades.
All trades on the platform occur directly between customers through the market order book. Firi does not trade using proprietary funds and does not participate in trades in its own order books.
Trading is available in markets denominated in Nordic currencies paired with supported crypto-assets.
The platform operates continuously, 24 hours a day and 7 days a week, subject to scheduled maintenance or unforeseen technical events.
Access to the Firi trading platform requires registration and completion of the customer onboarding process.
Customers must complete identity verification and comply with Firi’s know-your-customer (KYC) and anti-money laundering (AML) procedures before trading. Access to the trading platform is allowed for legal entities and natural persons over the age of 18.
Firi may restrict or suspend access to the platform where required for regulatory, compliance, or risk management purposes.
Firi supports trading in a selection of crypto-assets, as outlined on the company's website at https://firi.com/cryptocurrency.
The list of supported assets may change over time based on market conditions, regulatory considerations, and risk assessments.
Firi does not accept applications from issuers or other third parties seeking admission of crypto-assets to the platform. The selection and admission of crypto-assets is conducted solely at Firi's discretion, based on its own internal assessment process. Firi independently identifies, evaluates, and decides which crypto-assets to admit to trading, applying the criteria and procedures set out in these rules. As crypto-assets are admitted solely on Firi's own initiative, no admission fee is charged to issuers or any other party.
Before a crypto-asset can be admitted to trading on the platform, it must undergo an internal assessment process.
As part of its admission process, Firi assesses whether an identifiable issuer exists for each crypto-asset under consideration. For crypto-assets without an identifiable issuer, no white paper is required under MiCA, cf recital (22).
All new assets are subject to the following approval process, including a suitability assessment of the crypto-asset.
This process evaluates several factors including:
Where a white paper has been published for any crypto-asset available on the platform, Firi will provide clients with a hyperlink to the relevant white paper.
Firi maintains clear criteria for crypto-assets that cannot be listed on the platform. These exclusions are based on technical limitations, risk management considerations, and our commitment to maintaining a secure and compliant trading environment.
The following types of crypto-assets are not eligible for listing on Firi's platform:
Emerging or small-cap crypto-assets that do not fulfill requirements in the internal product governance- and new product approval process.
Firi continuously monitors listed assets and may suspend or remove assets from trading where risks are unacceptable or regulatory considerations require it. Monitoring takes into account the admissions criteria factors in addition to ongoing compliance with requirements related to issuers of listed assets, such as MiCA article 12.
When an asset is delisted:
The Firi trading platform supports limit orders only, through the Advanced Trade service.
A limit order allows a customer to specify both the price and quantity at which they wish to buy or sell a crypto-asset.
If matching orders exist at the specified price or better, the order will be executed immediately for the available quantity.
Any remaining portion of the order will remain in the order book until it is matched or cancelled.
Limit orders may be placed through:
Limit orders on the Firi trading platform are executed using a price-time priority matching algorithm.
Orders are matched based on:
When a limit order matches an existing order in the book at the specified price or better, the order executes immediately.
If no match exists, the order remains in the order book until matched or cancelled.
Limit orders may be cancelled at any time before execution through the web platform or API.
If a limit order is partially filled, customers may cancel the remaining unfilled portion.
Once a trade has been executed, it is final and cannot be cancelled or reversed.
Firi provides market information to ensure transparent trading conditions, in line with delegated regulation 2025/417 and through open APIs.
Customers have access to real-time order book information, including:
This information is available through the web platform and public API endpoints.
Executed trades are published with the following information:
Data for executed trades is made available as close to real-time as technically possible.
Executed trade history is maintained and available for at least two years.
Firi charges a trading fee for executing trades on the platform.
The current trading fee can be found at the company’s website Fees on Firi's crypto exchange | Firi
Firi may introduce promotional fee programs to customers from time to time.
These programs:
Market makers may qualify for reduced fees based on objective criteria such as trading volume and liquidity provision.
All trades on the Firi platform settle instantly upon execution.
Before an order is placed, the required assets are locked in the customer’s account:
When a trade executes, assets are transferred immediately within the platform’s internal ledger.
All executed trades are final and irreversible.
Although the platform operates continuously, trading may be affected by technical or operational events.
Trading interruptions may occur due to:
In certain situations the platform may enter a cancel-only mode, where customers can cancel orders but cannot place new ones.
Customers will be informed of significant service disruptions where possible.
Firi maintains automated market surveillance with parameters and thresholds to detect activity indicating market manipulation.
Firi may take any action deemed necessary to preserve market integrity. Actions may include the halting of trading, restricting access to trading, and restricting order types.
Firi does not use circuit breakers or automated trading halts based on predetermined price bands.
Firi maintains records of all orders and trades executed on the platform, in line with delegated regulations 2025/416 and 2025/417.
Recorded data includes:
These records provide a complete audit trail of trading activity and may be provided to regulatory authorities upon request.
Employees involved in trading operations are prohibited from misusing confidential information related to pending transactions.
Access to trading information is restricted to personnel with operational or compliance responsibilities.
Control mechanisms are in place to prevent misuse of information.
Firi may update these Operating Rules from time to time to reflect changes in market operations, regulatory requirements, or platform functionality. Customers will be notified of material changes where required.
As a general rule, changes will be implemented following a one month notice period, however urgent changes due to factors beyond Firi’s control may be implemented on shorter notice.