Susquehanna Unveiled as New LP for TP Icap Digital Assets
Posted by Colin Lambert. Last updated: January 27, 2022
TP Icap has added has added market maker Susquehanna to its digital assets spot platform, which executed its first trade earlier this year.
Susquehanna Digital Assets is a member of The Susquehanna International Group of Companies, and is a global quantitative trading firm. Susquehanna was an early entrant to the cryptocurrency market, and TP Icap says the company handles millions of transactions on exchanges around the world every day.
The addition of Susquehanna to the platform follows that of Flow Traders, Jane Street and Virtu Financial, and will provide further liquidity and ensure competitive prices for buyers and sellers, TP Icap says.
The new digital assets platform remains subject to registration with the UK Financial Conduct Authority, but will feature a wholesale electronic OTC marketplace for spot crypto asset trading, including Bitcoin and Ethereum. The platform will also include post-trade infrastructure that provides straight through processing and payment netting services for executed trades into a network of digital asset custodians.
“It’s great news to be welcoming another highly regarded liquidity provider to the platform, adding greater liquidity and bringing deep expertise for our global network of clients,” says Simon Forster, co-head of digital assets at TP Icap. “As interest grows in digital assets from institutional investors and traders, partnerships of this calibre, in addition to our position as independent broker, means that we are well placed to guide new entrants to the market and support the growth of this exciting asset class.”
Ben Hessels from at Susquehanna Digital Assets, adds, “There is substantial institutional interest in the space, and thus a need for institutional-grade liquidity. Susquehanna has long been a liquidity provider in the digital asset spot markets, as well as various futures and derivative markets as they have come online. This TP Icap–Susquehanna partnership marries the infrastructure and connectivity that investors demand with the liquidity they need.”