SynOption Claims Digital Assets Block Trade First

Singapore’s SynOption says it has executed the first block trade facilitated on Deribit, marking its entry into digital assets options trading. The trade was between Bastion Trading and QCP Capital, with the assistance of SynOption’s platform, Synchro.

“As a global institutional digital assets trading firm, we are committed to bringing more liquidity and transparency into the crypto markets,” says Simon Nursey, head of derivatives at QCP Capital. “Executing the first block trade on SynOption’s Synchro platform is one way in which we work with partners to provide enhanced liquidity and seamless execution to market participants. We are excited to embark on this journey alongside SynOption.”

Ayush Kohli, partner and head of derivatives at Bastion Trading, is similarly excited, adding, “We are thrilled to have participated in the first block trade facilitated by SynOption. This achievement solidifies our unwavering commitment to innovation and excellence in the Digital Assets options market. SynOption’s advanced platform, combined with our institutional expertise, will enable us to improve workflows for institutions in block and OTC trades.”

Anchal Jain, CEO of SynOption, concludes, “This achievement highlights our shared vision of driving innovation in Digital Assets options trading. We continue to look for ways to simplify options for portfolio managers and traders, and this is just another step towards achieving that goal.”