TP ICAP today revealed that Jane Street and Virtu Financial have committed to supporting the upcoming launch of the TP ICAP Digital Assets Spot Platform as liquidity providers.
The addition of the two market makers will give the platform’s clients a tight pricing.
TP ICAP’s new Digital Assets Platform is currently in the process of registering with the UK FCA. Once regulated and operational, it will feature a wholesale electronic OTC marketplace for spot crypto asset trading, including Bitcoin and Ethereum. The new platform will also deliver post-trade infrastructure which offers straight through processing (STP) and payment netting services for executed trades into a network of digital asset custodians.
Simon Forster, Co-Head of Digital Assets at TP ICAP, said:
TP ICAP has long standing relationships across multiple asset classes with both Jane Street and Virtu. We have been working with the Digital Assets teams of these businesses for some time so bringing their expertise and spot liquidity into our ecosystem is a natural evolution that reflects our shared commitment to this asset class. Having another two blue chip market makers on board at launch will help provide competitive and deep liquidity to our global network of clients who are looking to engage in crypto assets for the first time.
Thomas Uhm of Jane Street, said:
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.
Laine Litman of Virtu Financial, said:
The launch of TP ICAP’s Digital Assets Spot Platform is an exciting partnership opportunity for Virtu as it does that and is among the first of its kind. Clients can leverage the platform’s institutional-grade protocols, TP ICAP’s long standing presence in capital markets and firms’ like Virtu’s experience as leading global market makers to integrate liquidity of digital assets into a trusted and familiar trading format.
TP ICAP has recently expanded its services in order to meet customers demand for financial products. Earlier this year, the company launched fully automated Spot FX matching platform SpotMatch.
