These are key requirements for our institutional clients who want to be able to trade, invest and safely access this growing area of the market.” #ICYMI – Experts joined us at #FO256 to discuss the evolution of financial markets and #digitalsecurities.Ĭc: Alan Konevsky ( Jerald David ( ( and Simon Forster listen to what they said! 🎧 /Fx3ToPIAFjĪndrew Polydor, global head of markets at TP ICAP, said in a statement: “This platform leverages mature trading technology developed by our partners GMEX Technologies, to provide spot liquidity in digital assets as well as access to multiple custodians via a bespoke post-trade solution. The trading platform, which will be launched in London, will be made available globally to customers across the TP ICAP Group as well as to new clients of the firm seeking market access to this new asset class. TP ICAP expects to announce additional liquidity providers and strategic custody partners. Michael Lie, head of digital asset trading at Flow Traders said in statement: “As the #1 market maker in cryptocurrency ETPs, as well as being a leading spot OTC liquidity provider, we have seen first-hand the increase in institutional interest in cryptoassets.” TP ICAP has also partnered with Flow Traders, a leading global financial technology-enabled liquidity provider in financial products, historically specialised in exchange traded-products and now expanding into other asset classes.Įxciting day for us here at as we announce what we've been building with and Zodia Custody, a venture from the innovation arm of Get in touch with us at to learn more! “TP ICAP already operates multiple regulated venues for multiple asset classes,” he added. It is possible that in the future tokenized assets will have to be traded on a regulated multilateral trading facility.
#TP ICAP NEWS REGISTRATION#
The FCA’s responsibility under this regime is limited to AML/CTF registration supervision and enforcement only.įorster said that one of TP ICAP’s key selling points is regulatory compliance as the largest inter-dealer broker. TP ICAP has submitted an application to register the digital assets platform with the FCA and it will only launch once that has been completed, which is slated for the second half of this year. However, in a nascent market a number of things need to be put in place such as unique identifiers for crypto OTC derivatives. “We are also getting asked a lot of questions around total return swaps and OTC options.” “Our partnership with Moorgate Benchmarks provides clients with assurance that our ISDA-referenced rates are fully compliant with the EU Benchmarks Regulation, whilst further strengthening our governance processes.“If you come from an FX department you naturally look at a Bitcoin/US dollar pair through the lens of your other FX products and an NDF (non-deliverable forward) is very familiar,” Trenholme added. Martin Lynch, regional head of global broking EMEA and COO global broking at TP ICAP, added: “Sourcing liquidity for our clients efficiently and effectively across multiple asset classes and regions demands that we maintain governance and compliance best practice. Tobias Sproehnle, chief executive officer of Moorgate Benchmarks, commented: “As TP ICAP's independent benchmark administrator, we will ensure that TP ICAP’s benchmarks continue to reflect best practices and rigorous governance standards in an evolving and increasingly complex regulatory landscape.” Regulatory uncertainty continues for benchmark administrators amid mounting market focus on their activities
Moorgate Benchmark’s role will also include trying to ensure the highest standard of accuracy, integrity and governance is met.
#TP ICAP NEWS FULL#
The appointment is on behalf of TP ICAP for both its broking businesses, ICAP and Tullett Prebon, ensuring full compliance with the EU Benchmarks Regulation.
Moorgate Benchmarks will administer 20 of the International Swap and Derivatives Association (ISDA) referenced benchmarks.Ī constituent of the FTSE 250, TP ICAP is formed of a portfolio of businesses including global broking, energy and commodities, institutional services and data analytics TP ICAP has appointed Moorgate Benchmarks as the independent benchmark administrator for its interest rate swap benchmarks.
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