05-25-2023, 01:00 PM
TP ICAP’s Institutional Crypto Exchange Finally Goes Live for Spot Trading
<p class="MsoNormal">Fusion
Digital Assets, TP ICAP’s crypto spot exchange for institutional investors <a href="https://www.financemagnates.com/institutional-forex/tp-icap-to-launch-crypto-trading-services-for-institutions/" target="_blank" rel="follow">initially planned for launch in mid-2021</a>, has finally gone live. The platform has successfully completed its
first Bitcoin/US dollar trading pair transaction, the top interdealer broker
<a href="https://tpicap.com/tpicap/media/press-releases/2023/tp-icap-announces-first-live-trade-through-fusion-digital-assets" target="_blank" rel="follow">said</a> on Wednesday, noting that the trade was settled by one of its partners,
Fidelity Digital Assets. </p><p class="MsoNormal text-align-justify">TP ICAP
Floats New Platform</p><p class="MsoNormal">The launch
of the enterprise-grade trading venue comes six months after TP ICAP <a href="https://www.financemagnates.com/cryptocurrency/tp-icap-gains-uk-registration-for-institutional-crypto-exchange/" target="_blank" rel="follow">secured a UK license</a> to operate the exchange. However, the
financial market infrastructure and data solutions provider has been offering
crypto derivatives services since 2019.</p><p class="MsoNormal">The new
platform combines TP ICAP’s proprietary over-the-counter electronic platform,
Fusion, with the institutional-grade custodial expertise of Fidelity Digital
Assets. In addition to depending on TP ICAP’s order matching and trade execution
technology, the exchange taps into the firm's diverse liquidity from its global client base. </p><p class="MsoNormal text-align-justify">“The venue
currently supports trading in Bitcoin and Ether against USD,” <a href="https://www.financemagnates.com/tag/tp-icap/" target="_blank" rel="follow">TP ICAP</a> said. “Going forward, it will expand the assets it supports in line with
client demand," the firm added, noting that the platform will further expand to
support “a multi-custody model." </p><p class="MsoNormal text-align-justify">A Joint Project</p><p class="MsoNormal text-align-justify">Apart from
Fidelity Digital Assets, TP ICAP onboarded several industry stakeholders
as partners and clients for the launch of Fusion Digital. They include liquidity provider,
Flow Traders; crypto liquidity provider and asset manager, XBTO Global; and
crypto asset trading and custody integration services provider, DLT
Finance.</p><p class="MsoNormal">Previously, Finance Magnates reported that TP ICAP <a href="https://www.financemagnates.com/institutional-forex/tp-icap-adds-hudson-river-trading-as-spot-crypto-market-maker/" target="_blank" rel="follow">onboarded a quantitative
trading firm, Hudson River Trading</a> as a spot crypto market maker for the project. On top of that, the London-listed company previously
tapped <a href="https://www.financemagnates.com/institutional-forex/tp-icap-to-launch-crypto-trading-services-for-institutions/" target="_blank" rel="follow">Standard Chartered’s
Zodia Custody</a>. However,
these firms are not mentioned in <a href="https://tpicap.com/tpicap/media/press-releases/2023/tp-icap-announces-first-live-trade-through-fusion-digital-assets" target="_blank" rel="follow">the latest announcement</a>.</p><p class="MsoNormal">“Today is a
further milestone in our collaboration with TP ICAP and the evolution of the
digital assets ecosystem to enable even more participation from institutional
investors,” said Manuel Nordeste, the Head of European Business Development at
Fidelity Digital Assets Europe. “Our collective goal is to enable investors to
navigate this nascent asset class, execute trades, and custody their assets
with confidence.”</p><p class="MsoNormal">Hantec Markets’ brand ambassadors; FlexTrade brings AI; <a href="https://www.financemagnates.com/forex/news-nuggets-24-may-hantec-markets-brand-ambassadors-flextrade-brings-ai/" target="_blank" rel="follow">read today's news nuggets</a>.</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
https://www.financemagnates.com//cryptoc...t-trading/
<p class="MsoNormal">Fusion
Digital Assets, TP ICAP’s crypto spot exchange for institutional investors <a href="https://www.financemagnates.com/institutional-forex/tp-icap-to-launch-crypto-trading-services-for-institutions/" target="_blank" rel="follow">initially planned for launch in mid-2021</a>, has finally gone live. The platform has successfully completed its
first Bitcoin/US dollar trading pair transaction, the top interdealer broker
<a href="https://tpicap.com/tpicap/media/press-releases/2023/tp-icap-announces-first-live-trade-through-fusion-digital-assets" target="_blank" rel="follow">said</a> on Wednesday, noting that the trade was settled by one of its partners,
Fidelity Digital Assets. </p><p class="MsoNormal text-align-justify">TP ICAP
Floats New Platform</p><p class="MsoNormal">The launch
of the enterprise-grade trading venue comes six months after TP ICAP <a href="https://www.financemagnates.com/cryptocurrency/tp-icap-gains-uk-registration-for-institutional-crypto-exchange/" target="_blank" rel="follow">secured a UK license</a> to operate the exchange. However, the
financial market infrastructure and data solutions provider has been offering
crypto derivatives services since 2019.</p><p class="MsoNormal">The new
platform combines TP ICAP’s proprietary over-the-counter electronic platform,
Fusion, with the institutional-grade custodial expertise of Fidelity Digital
Assets. In addition to depending on TP ICAP’s order matching and trade execution
technology, the exchange taps into the firm's diverse liquidity from its global client base. </p><p class="MsoNormal text-align-justify">“The venue
currently supports trading in Bitcoin and Ether against USD,” <a href="https://www.financemagnates.com/tag/tp-icap/" target="_blank" rel="follow">TP ICAP</a> said. “Going forward, it will expand the assets it supports in line with
client demand," the firm added, noting that the platform will further expand to
support “a multi-custody model." </p><p class="MsoNormal text-align-justify">A Joint Project</p><p class="MsoNormal text-align-justify">Apart from
Fidelity Digital Assets, TP ICAP onboarded several industry stakeholders
as partners and clients for the launch of Fusion Digital. They include liquidity provider,
Flow Traders; crypto liquidity provider and asset manager, XBTO Global; and
crypto asset trading and custody integration services provider, DLT
Finance.</p><p class="MsoNormal">Previously, Finance Magnates reported that TP ICAP <a href="https://www.financemagnates.com/institutional-forex/tp-icap-adds-hudson-river-trading-as-spot-crypto-market-maker/" target="_blank" rel="follow">onboarded a quantitative
trading firm, Hudson River Trading</a> as a spot crypto market maker for the project. On top of that, the London-listed company previously
tapped <a href="https://www.financemagnates.com/institutional-forex/tp-icap-to-launch-crypto-trading-services-for-institutions/" target="_blank" rel="follow">Standard Chartered’s
Zodia Custody</a>. However,
these firms are not mentioned in <a href="https://tpicap.com/tpicap/media/press-releases/2023/tp-icap-announces-first-live-trade-through-fusion-digital-assets" target="_blank" rel="follow">the latest announcement</a>.</p><p class="MsoNormal">“Today is a
further milestone in our collaboration with TP ICAP and the evolution of the
digital assets ecosystem to enable even more participation from institutional
investors,” said Manuel Nordeste, the Head of European Business Development at
Fidelity Digital Assets Europe. “Our collective goal is to enable investors to
navigate this nascent asset class, execute trades, and custody their assets
with confidence.”</p><p class="MsoNormal">Hantec Markets’ brand ambassadors; FlexTrade brings AI; <a href="https://www.financemagnates.com/forex/news-nuggets-24-may-hantec-markets-brand-ambassadors-flextrade-brings-ai/" target="_blank" rel="follow">read today's news nuggets</a>.</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
https://www.financemagnates.com//cryptoc...t-trading/