B2C2 Upgrades e-Pricing; Targets Larger Crypto Orders
Posted by Colin Lambert. Last updated: August 24, 2021
In what could be a significant step forward for the crypto industry’s efforts to bring institutional traders onboard, liquidity provider B2C2 has unveiled a new pricing methodology aimed at enhancing its ability to price block trades electronically.
According to Phil Gillespie, co-CEO of B2C2, “Historically we would advise clients to contact us directly on larger tickets, but we’ve just rolled out our new pricing methodology that will show significantly tighter prices on these trades via our GUI or API connections.”
While institutional investors are still likely to enter crypto markets gradually, with major custodians now supporting the asset class, attention inevitably will turn to the ability of the market infrastructure to take what could be a higher volume of trading. The ability to trade in larger amounts likely reduces the amount of market impact a trade will have.
“We are still committed to trading with clients in the manner they choose – be it GUI, API or over Slack, Telegram, WhatsApp or Skype,” says Rob Catalanello, co-CEO of B2C2, “But our developers and traders have enhanced our pricing engines and risk management systems to allow clients to see significantly better spreads on block tickets, especially in the majors (BTC & ETH).”
The move is a statement from B2C2 about its commitment to the market, sources at the firm confirmed earlier this year to The Full FX that it priced consistently through the extreme volatility seen in mid-May that led to several venues going offline for some considerable time. By adding the ability to price larger tickets to a robustness in liquidity provision, institutional investors may just start to see in the firm characteristics of some of their primary FX liquidity providers – something that should add further to their comfort levels in the crypto market.