LONDON – Wednesday, July 3rd 2024 – Copper, a leader in digital asset custody, collateral management and prime services, is delighted to have partnered with Flow Traders, a major digital asset liquidity provider.
Through the partnership, Flow Traders will be fully integrating their exchange trading infrastructure with ClearLoop, utilising Copper’s custodian agnostic OTC settlement network and leveraging multiple platform features to improve connectivity with Copper’s existing institutional client-base.
Counterparty risk has been a key topic post-FTX, with ClearLoop serving as both the first and now the largest off-exchange settlement network for digital assets. Recognising this, Flow Traders plan to integrate ClearLoop for all supported exchanges both to mitigate counterparty risk, but also to leverage the increase in capital efficiency delivered as a result of being able to allocate funds to exchanges in less than 100ms.
In Q4 2023, Copper released the industry’s first custodian-agnostic OTC settlement solution – Copper Network. Flow Traders’ full-stack integration enables them to further scale their OTC operations by leveraging the built-in unified post-trade communication and settlement workflows of the Copper Network, in addition to identifying and establishing new counterparty connections.
The Copper Platform will serve as a new gateway to improve connectivity between Copper and Flow Traders mutual client-bases. Notably, Flow Traders can efficiently interact, transfer and receive assets to and from Copper’s expansive list of ETP Issuers for which Flow Traders serve as an Authorised Participant.
“Innovative structures like Copper’s Clearloop and the Copper Network are contributing to developing more mature crypto markets, which we believe will enhance trust across the digital asset ecosystem. Essentially, Copper’s infrastructure enables us to keep our funds secure off-exchange in a reliable structure, thereby significantly reducing counterparty risk.” said Michael Lie, Global Head of Digital Assets at Flow Traders. “Trust is a recurring macro theme to unlocking broader adoption of both crypto and the underlying innovation in the space; therefore, we are actively leveraging and supporting structures like the one Copper has introduced to continue to improve markets.”
“We look forward to the collaboration with our partners at Flow Traders,” commented Dmitry Tokarev, CEO at Copper. “This latest integration in our Copper infrastructure will be an additional development in enhancing secure connectivity for investor access to digital assets”.
This collaboration is a key development that further solidifies Copper’s position as building the standard for institutional digital asset infrastructure.
About Flow Traders
Flow Traders is a proprietary trading firm. As a market maker, it provides liquidity in the securities market by using high frequency and quantitative trading strategies. Originally founded in Amsterdam, Flow Traders also has offices in New York, London, Milan, Paris, Cluj, Shanghai, Singapore, Chicago, and Hong Kong.
For more information, please visit: www.flowtraders.com
About Copper
Since being founded in 2018, Copper has been building the standard for institutional digital asset infrastructure with a focus on custody and collateral management.
Underpinned by multi-award-winning technology, Copper has built a comprehensive and secure suite of products and services required to safely custody and trade digital assets. At the core of Copper’s infrastructure is ClearLoop, which enables clients to manage collateral and settle trades across multiple exchanges, while mitigating counterparty risk and increasing capital efficiency.
For more information, please visit:www.copper.co
LinkedIn:Copper.co
Twitter:@CopperHQ
For media inquiries, please contact:
Copper.co: matthew.owen@portland-communications.com
Flow Traders: lpeijs@flowtraders.com
Insights
Market Insights
23.01.2024
Coppercasts
19.06.2024
Company News
26.06.2024