Genesis Joins ISDA
Posted by Colin Lambert. Last updated: May 4, 2022
Further evidence of how digital assets markets are creeping into the mainstream with news that Genesis’ GGC International unit has joined the International Swaps and Derivatives Association (ISDA) as a primary member.
Genesis becomes the second major crypto trading firm to join the association, following B2C2 taking out primary membership in March. ISDA has led the way in establishing legal frameworks in broader financial derivatives markets, and has recently turned its attention to crypto derivatives, and specifically the need for contractual standards in these products.
Genesis says that through its GGC entity, it was one of the first participants in the crypto derivatives market and enters into OTC derivatives referencing a broad range of digital asset underliers. As a member of ISDA, it says it will continue to help shape the direction of the digital asset derivatives markets towards making them safe and efficient for all participants.
“Genesis is a pioneer in crypto liquidity, in spot OTC, lending, and bilateral OTC derivatives,” says Josh Lim, head of derivatives at Genesis. “As one of the earliest dealing desks to provide options liquidity to crypto-native hedge funds and corporates in the space, we’ve helped to shape much of the existing set of documentation that has become embedded into derivatives relationships throughout the industry. We look forward to working with our fellow ISDA members as this market continues to mature.”