The interdealer broker that is known to be World's biggest is now entering into a partnership with Standard Chartered and Fidelity to launch the platform for cryptocurrency trading. With this, Institutional clients will be given better trading and settlement. On June 29 consortium made an announcement in London stating TP ICAP Zodia custody and Fidelity Digital Assets shall create crypto trading akin.

With the launch of a cryptocurrency venue for institutions, ICAP Group Plc is now hoping to expand its footprint in this market that is known for volatility.

The change that is about to begin:

Further talking about the platform, the consortium stated that ‘The platform will offer post-trade infrastructure with a network of digital asset custodians.’ The crypto market is emerging these days and for investors, this is the best time for a better investment.

This platform can work as a key for larger risk-averse investors. Certainly, with this news investors are now warmed up to and waiting for the launch which is due in the other half of the year. It will give them an initial level to do trading in bitcoin.

Setting the Footprint at Global level:

Currently, the custody services and crypto execution are all set in one venue which has increased the credit risk. TP ICAP has to date managed to set the footprint at a global level with analytics and new data services. Besides, it has even launched some new products. The crypto funds that have been quite dedicated were noted with some record flows currently.

After TP ICAP in the year 2019 successfully launched bitcoin futures and options, it is now planning to come up with other derivative products. The focus of this launch will be more towards non-deliverable forwards and total return swaps.

Currently, the platform is now waiting for approval to be made by Britain's financial regulator. Besides, for Fidelity Investments and Standard Chartered, it would be a new platform for investment.

Shivangi Mujumdar

CBW - External Analyst

INDIA