Jane Street and Virtu Financial join TP ICAP’s digital asset platform as market makers

Liquidity providers join the growing list of established financial services providers teaming up for the new digital asset platform.

Jane Street and Virtu Financial have both committed to supporting the upcoming launch of the TP ICAP’s Digital Assets Spot Platform.  

TP ICAP said the addition of the market makers will help provide the platform with the “tight pricing that clients expect and from brands they recognise and trust”. 

The platform remains subject to registration with UK regulators. 

TP ICAP’s new Digital Assets Platform will feature a wholesale electronic OTC marketplace for spot crypto asset trading, including Bitcoin and Ethereum.   

The platform will also include post-trade infrastructure that provides straight through processing (STP) and payment netting services for executed trades into a network of digital asset custodians.  

This summer, TP ICAP also collaborated with Fidelity Digital Assets, Zodia Custody and market maker Flow Traders on its digital assets programme. 

We at Jane Street have been applying our cross-asset expertise to provide liquidity across digital assets since 2017, and we’re glad to continue expanding the ways we can help develop the emerging crypto ecosystem,” said Thomas Uhm of Jane Street. 

“As more institutions look to interact with digital assets, offerings like TP ICAPs platform will help advance important conversations about achieving and managing exposure to digital assets.” 

Recently in institutional crypto news, Fidelity Digital Assets was granted registration with the UK Financial Conduct Authority for its digital asset custody and trade execution business. This followed SIX Digital Asset being authorised by the Swiss Financial Market Supervisory Authority (FINMA).