AlgoTrader has partnered with New York-based fintech solutions provider in order to deliver direct access to Tassat’s cryptocurrency derivatives for institutional clients. Together, the firms will strive to build a global institutional-grade cryptocurrency trading ecosystem for institutional and qualified investors.
Tassat uses blockchain-based technologies to enable frictionless asset transfer and settlement. The DLT-powered company has already created both institutional OTC-based digital asset reference rates and margined deliverable swap contracts on Bitcoin.
As Tassat prepares the launch of its derivatives products, including a physically-deliverable, margined Bitcoin swap, AlgoTrader’s institutional customers will be able to access and incorporate these instruments into their quantitative trading strategies with access to liquidity and regulatory oversight.
Tassat’s derivatives products will be available for institutional investors, brokers and other eligible contract participants, who will be able to send orders directly to Tassat’s US-based exchange
affiliate, while Tassat will gain access to a larger pool of hedge funds and institutions.
Michel Finzi, Chief Commercial Officer of Tassat, commented: “We pick our partners thoughtfully and focus on those who align with our philosophy to serve the institutional crypto marketplace.
AlgoTrader has a unique service delivery model, offers clients more control and flexibility and most importantly, has a singular mission to create a high-impact trading experience. Like us, they’re driven to create a modern cryptocurrency ecosystem with no compromise on integrity and we’re excited to have them be our first partner for exchange connectivity and distribution.”
Richard Chmiel, Chief Revenue Officer of AlgoTrader, said: “Our goal at AlgoTrader is to establish a global crypto asset management ecosystem to help fuel innovation and adoption of the crypto derivatives market which may be poised for exponential growth. Tassat is one of the most professional institutional focused organizations and we are excited to partner with them and to continue to extend our global footprint with a likeminded firm.”
AlgoTrader’s algorithmic trading software solution for conducting quantitative research, trading strategy development, strategy backtesting and automated trading for both traditional securities and crypto-assets is now moving to build the cryptocurrency trading ecosystem for institutional and qualified investors together with Tassat.
The algo trading firm has recently partnered with Avaloq to take another step into building a global digital asset management ecosystem, with the purpose of enabling banks and other financial
intermediaries to be prepared for the coming paradigm shift for crypto custody and trading. The deal allowed Avaloq to provide AlgoTrader’s solution to its extensive banking and wealth management clients worldwide in order to manage their automated crypto trading and to get access to all major crypto exchanges through a FIX API.