{"id":589,"date":"2019-06-18T18:47:33","date_gmt":"2019-06-18T18:47:33","guid":{"rendered":"https:\/\/techcavit.com\/?p=589"},"modified":"2019-07-18T22:08:22","modified_gmt":"2019-07-18T22:08:22","slug":"worlds-largest-interdealer-broker-to-offer-crypto-derivatives","status":"publish","type":"post","link":"https:\/\/techcavit.com\/worlds-largest-interdealer-broker-to-offer-crypto-derivatives\/","title":{"rendered":"World\u2019s Largest Interdealer Broker to Offer Crypto Derivatives"},"content":{"rendered":"\n<p>TP ICAP has entered the crypto market where it is to offer crypto derivatives, hoping to boost its dwindling core business which is in commodity, financial and energy markets. Last year, TP ICAP lost 36% of its market value in the wake of the financial crisis. <\/p>\n\n\n\n<p>It has since salvaged about 10%. TP ICAP is set to be the intermediary between customers wanting to buy and sell Bitcoin futures,\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-06-17\/tp-icap-enters-the-crypto-business-to-trade-bitcoin-derivatives\">Bloomberg reports<\/a>.<\/p>\n\n\n\n<p>The firm\u2019s new venture will be based in London and will be led by Simon Foster and Duncan Trenholme. This move is however not sudden as it might seem. Roughly a year ago, TP launched a working group tasked with examining the firm\u2019s best approach to cryptocurrency. <\/p>\n\n\n\n<p>Notably, a year later, they announce their approach to crypto to be trading of Bitcoin futures and they envision adding non-deliverable forwards (NDFs) tied to Bitcoin.<\/p>\n\n\n\n<p>This is a sweet spot for the firm as it joins other big players such as Fidelity Investments, JP Morgan, and Intercontinental Exchange to engage in crypto derivatives trade. These firms\u2019 decision to engage in Bitcoin, derivatives trade is unlike their clients\u2019 who prefer to not trade in cryptocurrencies that are still recovering from the infamous yearlong slump. <\/p>\n\n\n\n<p>Bakkt, a much-anticipated crypto trading platform known for its multiple delayed times is set to launch its own physically settled Bitcoin futures trading testing on July 22. Additionally, Nasdaq is set to launch its own crypto futures platform during the course of this year.<\/p>\n\n\n\n<p><em>\u201cEvery institution is on an educational journey,\u201d said Trenholme, who is co-leading TP ICAP\u2019s new venture. \u201cMany are exploring how tokens can legitimately be traded or stored and I\u2019d expect more projects to hit the market over the next year or two.\u201d<\/em><\/p>\n\n\n\n<p>TP ICAP is also exploring other digital asset offerings. The firm is thinking about participating in the actual cryptocurrency market. \u201cWe want to be close to what\u2019s happening within this nascent asset class because we believe it\u2019s important to invest in the early stages of a growing market,\u201d said Simon Foster. <\/p>\n\n\n\n<p><em>\u201cTP ICAP also understands that this technology could disrupt or impact other asset classes where we currently operate, so we feel it\u2019s important to be informed.\u201d<\/em><\/p>\n\n\n\n<p>This venture will entail cash-settled futures contracts trading on a regulated market which will be managed by CME Group to avoid potential risks of fraud and market manipulation. Their clients will also have to undergo rigorous anti-money laundering and identity checks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TP ICAP has entered the crypto market where it is to offer crypto derivatives, hoping to boost its dwindling core business which is in commodity, financial and energy markets. Last year, TP ICAP lost 36% of its market value in the wake of the financial crisis. It has since salvaged about 10%. TP ICAP is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":536,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,32],"tags":[102,380],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 (Yoast SEO v19.5.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>World\u2019s Largest Interdealer Broker to Offer Crypto Derivatives - TechCavit<\/title>\n<meta name=\"description\" content=\"TP ICAP has entered the crypto market where it is to offer crypto derivatives, hoping to boost its dwindling core business which is in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/techcavit.com\/worlds-largest-interdealer-broker-to-offer-crypto-derivatives\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World\u2019s Largest Interdealer Broker to Offer Crypto Derivatives - 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