Digital assets firms Zodia and LMAX to collaborate on new trading infrastructure
The businesses are set to launch the institutional-grade trading infrastructure and custody services for CoinShares.
The businesses are set to launch the institutional-grade trading infrastructure and custody services for CoinShares.
The bank launched the visual structuring tool for FX as part of its Marquee platform in September last year; todays expansion includes new machine learning capabilities.
The two firms will provide clearing on cash-settled digital asset index derivatives with launch expected in Q4 2023.
New futures will be traded in EUR and USD, providing trusted access to cryptocurrencies in a regulated market through Eurex.
The startup will build a central counterparty for digital assets which will allow for more streamlined transactions, an increase in capital efficiency and a reduction of risk for all participants.
Acuiti’s latest report found that nearly 50% of surveyed participants were concerned with counterparty risk, compared to 31% for operational risk, 13% for liquidity risk and only 6% for market risk.
At the FIX EMEA 2023 conference last week, one of the most talked-about topics was the issue of how blockchain and distributed ledger technology (DLT) can be utilised to increase trading efficiency.
Acquisition of the digital asset manager falls in line with Coinbase’s strategy to increase opportunities for institutions to participate in the crypto-economy.
The “robust” plans propose stricter limits on crypto lending, as well as the introduction of a new crypto market abuse regime and tighter rules on the role of financial intermediaries and custodians.
New service will become available on 1 February, providing issuers with improved trading and settlement possibilities in the digital asset space.