Flow Traders
Flow Traders is a trading firm that quotes buy and sell prices on exchanges and trading platforms around the clock. As a market maker it earns the small difference between those two prices and in return lets other investors trade at any time. The firm started with exchange-traded products and later added bonds, commodities, foreign exchange and digital assets.
Flow Traders was founded in Amsterdam in 2004, and its shares have traded on Euronext Amsterdam under the symbol FLOW since 10 July 2015. Its trading hubs in Europe, the United States and Asia-Pacific together cover all 24 hours of the trading day.
Co-founder of AllUnity in Frankfurt
On 13 December 2023, Flow Traders, the asset manager DWS and the digital asset firm Galaxy announced that they would found AllUnity, a Frankfurt company for a fully collateralized euro stablecoin. Flow Traders contributed its experience in providing liquidity and its connections to trading venues for traditional and digital assets. Mike Kuehnel, at that time chief executive of Flow Traders, said that the venture would widen the work of the firm on innovation in financial markets.
BaFin granted AllUnity an e-money institution license on 1 July 2025, and AllUnity launched the euro stablecoin EURAU on 31 July 2025. A stablecoin needs a market maker on both sides of the order book: it buys tokens when holders sell and supplies tokens when buyers come, so the price on trading venues stays close to one euro.
Crypto market making since 2017
Flow Traders has traded digital assets since 2017. The firm is market maker, authorized participant and liquidity provider for crypto ETPs, the exchange-traded notes and funds that track bitcoin and other tokens. Its OTC desk trades spot and derivatives with institutional clients by phone, chat and API, and it quotes prices for crypto projects and exchanges.
A market maker in crypto holds an inventory of tokens and quotes both sides of the order book, which is the core of crypto market making on exchanges. Among the partners of its digital asset business, Flow Traders lists Coinbase, Deribit and Uniswap as well as Eurex, the derivatives exchange of Deutsche Börse. The custodian Copper also names Flow Traders among its clients.
From Amsterdam to Euronext
The firm began in Amsterdam in 2004 and went public on Euronext Amsterdam on 10 July 2015, in an offering valued at 521 million euros. At that time Flow Traders quoted prices in more than 4,000 ETP listings worldwide. In July 2025 the firm nominated Thomas Spitz as chief executive officer from 1 September 2025; he had led global markets at First Abu Dhabi Bank from 2022 to 2024.
Upcoming digital asset and crypto events in Germany
What does Flow Traders do?
The firm is a market maker that quotes buy and sell prices for exchange-traded products, bonds, currencies, commodities and crypto assets. Investors can trade with it at any hour, because its hubs in Europe, the United States and Asia-Pacific take turns.
Does the firm issue a stablecoin?
The firm issues no stablecoin of its own, because the euro stablecoin EURAU comes from AllUnity, the Frankfurt e-money institution that Flow Traders founded together with DWS and Galaxy. Flow Traders brings its trading and liquidity experience into that joint venture.
Where do the shares trade?
The shares trade on Euronext Amsterdam under the symbol FLOW, where the firm has been listed since 10 July 2015.
Flow Traders and Finance Loop
Flow Traders has a stake in Frankfurt through AllUnity, the euro stablecoin issuer it founded with DWS and Galaxy. AllUnity hosts Capital & Code, the Frankfurt conference on stablecoins and tokenized finance where Finance Loop is media partner. Stablecoins and their trading belong to the track Payments & Digital Money.
Finance Loop is a professional network and has the goal of driving the adoption of emerging technologies in finance, such as AI, tokenization, stablecoins, and DeFi. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.