TP ICAP Adds Hudson River Trading as Spot Crypto Market Maker

TP ICAP has continued to increase the number of market makers on its yet-to-be-launched Digital Assets Spot platform with the latest addition of Hudson River Trading, a quantitative trading firm.

The inter-deal broker is aiming to launch the institutional digital asset trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term later this year, but it is still pending regulatory approval. The platform will provide a wholesale electronic over-the-counter (OTC) marketplace for spot crypto asset trading, including Bitcoin and Ethereum.

“As we approach the launch of the platform, we are excited to add Hudson River Trading, another exceptional partner, further adding to our liquidity and price discovery capabilities,” said Simon Forster, TP ICAP’s Co-Head of Digital Assets.

Adding Liquidity

Founded in 2002, Hudson offers a sophisticated computing environment for algorithmic trading. TP ICAP is optimistic that the algorithmic trading will provide diversified liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term to its upcoming platform, ensuring competitive buying and selling prices.

“We have long admired the work of HRT in the market and its commitment to this new asset class, and alongside the numerous market makers already confirmed, highlights the strength, and promise of our Digital Assets Platform,” Forster added.

Hudson River Trading has joined other big names to provide market-making services to the platform that include Susquehanna, Flow Traders, Jane Street and Virtu Financial.

Brad Vopni, Hudson River’s Head of Digital Asset, said: “As an active participant in the crypto markets since 2017, we have witnessed a number of major milestones that have helped pave the way for greater institutional adoption of crypto. Together, we will provide a new set of investors with the ability to gain access to this rapidly evolving asset class on a familiar institutional-grade platform.”

Meanwhile, TP ICAP continued the expansion of its services in other areas and is going to launch an electronic foreign exchange trading platform in Singapore. But, it recorded an 81 percent drop in 2021 profits, despite a marginal revenue increase.