Cryptocurrency Tips: February 2023

Eventus, a provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has chosen the firm’s Validus platform to provide market abuse monitoring on the exchange.

Headquartered in Panama City, Panama, Deribit is one of the largest cryptocurrency options exchanges by volume and open interest, with approximately 90% market share in bitcoin (BTC) and ether (ETH) options. The exchange also offers select futures on cryptocurrencies.

David Dohmen, Deribit’s Chief Legal, Compliance & Regulatory Officer said the exchange considered several trade surveillance systems in anticipation of operating under the Virtual Assets Regulatory Authority in Dubai and as Deribit looked to expand into additional jurisdictions while maintaining the highest compliance standards.

He articulated: “Once I joined Deribit and our search for a surveillance vendor was underway, I was able to share that Eventus’ customer service is excellent. I’ve looked at and worked with a variety of trade surveillance systems, including Validus in two of my former roles since 2019. I was most impressed with the dedication and diligence of the Eventus team to continuously work with its clients to help improve how the system can meet our needs and resolve any issues we encounter along the way. They care about getting things done; it’s not just about the numbers.”

Additional factors in Deribit’s selection of Eventus, Dohmen said, were the firm’s vast experience with crypto asset exchanges and competitive pricing, plus the point that Validus is intuitive and easy to use.

“We are delighted to help Deribit achieve heightened surveillance capabilities. As the exchange continues to grow and expand its business to new regulatory jurisdictions, our Validus platform provides the scalable, agile solution the compliance team will need as its volumes increase and regulatory requirements become more complex.”
– Eventus CEO, Travis Schwab

The post Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus appeared first on CryptoNinjas.

* This article was originally published here

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Tuesday, February 7, 2023

Crypto exchange Gemini launches new electronic OTC trading solution

Gemini, the popular bitcoin & crypto exchange company, today announced the launch of electronic over-the-counter trading (eOTC), an automated crypto trading solution designed for institutions.

The Gemini eOTC solution offers a variety of advantages to institutional traders including:

Competitive Pricing & Execution: Liquidity is sourced from top-tier liquidity providers with deep liquidity pools, enabling counterparties to place large orders for immediate execution at optimal pricing, while incurring minimal transaction costs. Note, the minimum trade size is a $1,000 notional value per order.
Intuitive Interface: eOTC users can customize their Gemini eOTC interface to get real-time visibility into changing prices for the assets they are interested in trading and tracking.
Delayed Settlement: Gemini eOTC is natively integrated with Gemini Settlement. All trade obligations can settle at a predetermined time through a single settlement ticket. Through the intra-day delayed net settlement, counterparties can increase capital efficiency and avoid missed opportunities that can result from pre-funding requirements.
Regulated: GTC is a full-reserve exchange and qualified custodian under New York law. GTC is licensed by the New York State Department of Financial Services (NYDFS) and is SOC 2 Type II compliant.

“We developed this product for institutional investors, with experienced traders playing an integral role in the design of the product. Gemini eOTC builds on Gemini’s existing custody, settlement, and OTC trading capabilities that have been tailored to the needs of institutional traders. The product is SOC2 Type 2 compliant, providing counterparties with the high level of trust, security, and compliance they have come to expect from Gemini.”
– The Gemini Team

Currently, Gemini eOTC is available in 70 jurisdictions including the U.S. (available in all states excluding New York State residents), the UK, Ireland, and Singapore.

For more information on Gemini eOTC, check out the FAQ.

The post Crypto exchange Gemini launches new electronic OTC trading solution appeared first on CryptoNinjas.

* This article was originally published here