Hidden Road Launches Industry-First OTC Prime Brokerage for Digital Assets

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Oct 13, 2022, 09:00 ET

ROAD TOWN, British Virgin Islands, Oct. 13, 2022 /PRNewswire/ -- Hidden Road, the global credit network for institutional investors, today announced the public launch of its over-the-counter (OTC) prime brokerage for digital assets, for both US and international counterparties. Hidden Road's credit network facilitates OTC trading between market participants, with trades executed bilaterally between counterparties and intermediated by Hidden Road as the credit counterparty. Hidden Road's OTC prime brokerage will further institutional adoption of digital assets by giving counterparties full ownership and control over their execution technology, liquidity and custodian choice for both fiat and digital assets.

"Listening to our institutional counterparts, there was clear demand for Hidden Road to launch the first real prime brokerage solution for OTC trading of digital assets," says Michael Higgins, Global Head of Business Development for Hidden Road. "The market was in need of a truly conflict-free prime broker, one without a proprietary trading desk, OTC liquidity desk or market making operation. Hidden Road provides a credit network and a true prime brokerage solution for digital assets, encompassing margin netting, financing of trading and centralized market access to leading global OTC liquidity providers."

In conjunction with Hidden Road's support for exchange-traded products, the new OTC prime brokerage service enables true spread optimization for the buy side and brokerage communities, and a quicker, wider distribution channel for institutional market makers. Employing a novel approach that nets positions across all liquidity providers and venues, the offering introduces new operational and capital efficiencies while reducing credit risk, settlement risk and operational risk. Additionally, by increasing access to liquidity and expanding distribution, Hidden Road's digital asset prime brokerage eliminates the need to onboard and negotiate multiple bilateral relationships.

The majority of the top 25 global liquidity providers are available on the platform. The initial liquidity providers on the platform include, but are not limited to (in alphabetical order):

AlphaLab
DV Chain
Enigma Securities
GSR
FBG
Flow Traders
Da Vinci Derivatives
OSL
Portofino
Profluent
Virtu
Wincent
Wintermute
XBTO Global

The following ISVs are supporting Hidden Road OTC (in alphabetical order):

4OTC
CoinRoutes
Elwood Tech
Gold-i
Reactive
Talos

The following venues/ECNs are supporting Hidden Road OTC (in alphabetical order):

24x
Crossover Markets
Cypator
Enclave Markets
Finery Markets
Spotex

About Hidden Road

Hidden Road Partners is the global credit network for institutional investors, enabling seamless access to traditional and digital markets. Conflict-free and built on a modern technology stack, we remove complexity and cost in prime brokerage, clearing and financing. For more information, please email [email protected].

Media Contact

Michael Kingsley

Forefront Communications

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914-522-9471

SOURCE Hidden Road Partners