What the desk does.

Markets that hold their shape.

A designated mandate means the market's quality is our contractual obligation, not our best effort. Spread, depth and uptime targets are agreed in writing before the first order; we quote both sides continuously through every session; our compensation is conditioned on hitting the benchmarks.

Delivery is measured from reconciled order and trade records — not asserted in a slide. The monthly pack shows exactly what was quoted, what filled, and how it compared to the numbers we signed.

Anchored to NAV. Reported daily.

Tokenized treasuries, funds and equities fail in one specific way: the market drifts from the NAV and nobody is obliged to pull it back. Our issuer programs make that obligation explicit. Quotes are generated from the official NAV feed, depth is committed at defined distances from it, and tracking error is reported — average, worst case, and how fast it was corrected.

Where creation and redemption exist, we use them: the secondary market should never be the only way home.

Perpetuals, carried properly.

We quote two-sided markets in perpetuals on tokenized single-name equities and carry the risk the way it should be carried: delta-hedged against the underlying through regulated US brokerage connectivity during cash hours, with risk tiers that tighten the book automatically when the primary market is closed.

Funding, basis and inventory are managed as one book — not three surprises.

Aligned by structure, not by promise.

For token issuers and foundations: the project makes inventory available under a loan agreement, SGCS builds and maintains the market, and compensation includes options on the token. The market maker is paid in the project's success — the cleanest alignment this industry has produced.

The book runs under hard, pre-agreed risk limits, and the loan's terms, limits and return conditions are contractual from day one.

Order books, from the first print.

The first weeks of a listing decide its reputation. We build the book from the open — opening liquidity, spread discipline through price discovery, and depth that doesn't vanish on the first red candle — on new listings or new pairs at established ones.

Size, without the footprint.

Blocks. Bilateral, principal-to-principal execution of size that shouldn't touch a public book — price agreed against a transparent reference, settlement rails agreed up front, no information leaving the trade.

Programmatic sell-down. Treasuries and vesting unlocks worked across exchanges over an agreed schedule, with participation caps, price floors where instructed, and daily reporting of executed volume against the agreed benchmark.

Treasury execution. Token treasuries diversifying into majors or stables — or the reverse — executed to your plan. We execute; we do not advise on what the plan should be, and client-account work runs on trade-only API access.

Capital that trades its own conviction.

SGCS invests from its own balance sheet in the assets, projects and market infrastructure it trades: direct token positions, loan-plus-option structures, and pre-listing commitments paired with the liquidity to make the market real on day one.

Most positions sit alongside a mandate — deliberately. The desk that holds the option has every incentive to keep the market orderly, and the project gets one counterparty instead of three. What we look for: real usage or a credible, dated path to it; tokenomics that survive a market maker's spreadsheet; teams that want an aligned counterparty for years, not a mercenary for a listing week.

SGCS is not a fund. We manage no outside capital, advise no one, and custody nothing. This is our own balance sheet, invested where we also do the work.