FCA regulated FX Prime of Prime brokerage and liquidity provider CFH Clearing has announced that it is rolling out liquidity in Bitcoin through FIX and MT4, and will soon be adding Ethereum, Litecoin and Dash.
The products will be treated as CFDs so there is no delivery of cryptocurrencies or a need for clients to maintain a wallet.
CFH Clearing is part of TradeTech Group, the Financial Services division of Playtech PLC (LON:PTEC). Playtech acquired CFH Clearing late last year as part of its $120 million purchase of CFH Group.
This latest offering from CFH Clearing provides brokers with an opportunity to generate new trading volumes by capitalising on the increasing demand from their clients to trade cryptocurrencies.
Matthew Maloney, CEO of CFH Clearing commented:
With demand for Bitcoin at an all- time high, we wanted to offer much more than a cryptocurrency price feed to clients but provide a venue for them to offload some of the risk, too.
Cryptocurrencies are a risky asset and brokers have been struggling with where to hedge them. Our new offering stands out in the market, addressing this issue and creating a very attractive product for our clients.
Clients of CFH Clearing will be able to access the crypto liquidity through all proprietary platforms as well as preferred third party technology partners. Following the completion of an extensive integration directly with the crypto exchanges, CFH Clearing can quickly add further cryptocurrencies according to future demand.