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Despite the crypto winter, institutional investors are largely unperturbed. And as demand grows, more and more mainstream companies are offering products and solutions tailored for institutional investors.
Broadridge Financial Solutions is a leading fintech provider with over $5 billion in revenue, and its infrastructure and platform powers over $9 trillion in daily trading across equities and fixed income.
The partnership will help Broadridge facilitate access to cryptocurrency trading and provide more liquidity to institutional investors looking to profit from cryptocurrency opportunities, the companies said. . press release.
In particular, the partnership aims to provide interoperability between the fintech firm’s NYFIX order routing network and Coinbase Prime.
According to the companies, buy-side traders will be able to leverage the integrated solution to leverage Coinbase’s cryptocurrency liquidity and trade directly from their order management system (OMS).
The solution will be initially available to clients in the United States before being rolled out to other regions subject to regulatory approval.
“Despite the short cycle, institutional adoption momentum is leaning in one direction, with more exploration and more interest.Greg Tusar, Vice President of Institutional Products at Coinbase, said in a statement:
He said the use of NYFIX’s order routing network would help lower the barriers to adopting cryptocurrencies as an asset class, allowing buy-side traders to “Deep, multi-venue crypto liquidity
The institutional-level trading platform, custody and prime brokerage capabilities provided by Coinbase Prime will be key to the goals of both companies, the news release added.
“Today, through Coinbase’s deep liquidity access and NYFIX’s broad market reach, we are able to integrate over 2,000 clients to bring crypto trading to the institutional market.Ray Tierney, President of Broadridge Trading and Connectivity Solutions, said:
Coinbase recently partnered with BlackRock, the world’s largest asset manager, to offer clients cryptocurrency trading. Investment giants Fidelity, Charles Schwab and Citadel Securities have also made big moves by launching cryptocurrency exchanges.
