Authentic IOIs

Private by nature. Intelligent by design.

Authentic Indication is the world's first encrypted search and AI-driven credibility scoring engine for equity blocks.

The Problem

The problem with traditional IOIs (Indications of Interest) and Dark Pools

Traditional IOIs are scraped from Bloomberg, negatively affecting the stock price for the order-sender. Most of the largest Buy-side participants already request not to have their flow advertised via IOIs.

Sensitive order information like price limits are quickly detected by market makers in dark pools, also resulting in negative price impact for the order-sender.

You don't have to sell at a discount.

Our platform helps institutional buyers and sellers exchange large equity blocks at market price.

Introducing Our Solution

Authentic IOIs

Authentic IOIs ('AIOIs') are created directly by institutional investors, without broker intermediation, and remain encrypted until there is a match. There is zero risk of price impact or information leakage, and a commitment to market mid-price execution when matched.

We are not a new broker or dark pool

Authentic Indication manages an IOI matching platform for Brokers who subscribe to the service. Buy-side users of the platform are directed to one of the subscribed brokers when a match occurs. Trade through your existing brokers, and decide who wins the match.

How are we different?

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What we do differently

Our Platform

Authentic Indication - Application UI_ed

Our executing brokers

Our Leadership Team

CEO

Gordon Niamatali

Gordon has 18 years experience working for investment banks in Asia, most recently running Equity Execution Services for Citigroup in Japan, and Equity Flow Derivatives for Morgan Stanley in Japan before that. Prior to trading, Gordon spent 3 years in Finance at Lehman Brothers and Deutsche Bank, handling product control and accounting for derivative products. Gordon has a BA in economics from Cornell University, with concentrations in Japanese language and mathematics.

CTO

Jan Schiffman

Jan has over 30 years of experience in delivering commercial software products, with a focus on Fintech, BI, analytics, ML, and more recently, GenAI. He has successfully launched products as both an executive engineering and product leader in both startup and large enterprise settings, including VP of Analytics and Data Science Product Development at TIBCO and Oracle. In addition, Jan has 10 years of experience working in London and Tokyo in the fintech sector. Jan studied Computer Science at Rutgers University.

COO

Masashi Sato

Masa has over 20 years experience in Equity Electronic Execution at Citigroup and Morgan Stanley, with exposure to a wide range of areas including client coverage, algo trading, product development, compliance, and regulations. His most recent role as a business manager at Societe Generale added skills in project management and coordination with various business functions. Masa holds an MBA from Waseda University and a Master’s degree in Physics from International Christian University.

JPX collaboration

On January 15, 2025, we signed a Memorandum of Understanding (MOU) with the Tokyo Stock Exchange, Inc. to establish a cooperative relationship for promoting our IOI services. Following that, on March 17, 2025, CEO Gordon Niamatali spoke at a webinar hosted by the Tokyo Stock Exchange and introduced our services.
(Presentation in Japanese only)