Flow Traders team up with Copper to power custody and trading infrastructure
DIGITAL asset custody platform Copper has partnered with liquidity provider Flow Traders to bolster its institutional offering.
Flow Traders will be fully integrating its exchange trading infrastructure with ClearLoop, utilising Copper’s custodian agnostic OTC settlement network and leveraging multiple platform features to improve connectivity with Copper’s existing institutional client-base.
Counterparty risk has been a key topic post-FTX, with ClearLoop serving as both the first and now the largest off-exchange settlement network for digital assets. Flow Traders say they plan to integrate ClearLoop for all supported exchanges both to mitigate counterparty risk, but also to leverage the increase in capital efficiency delivered as a result of being able to allocate funds to exchanges in less than 100ms.
In Q4 2023, Copper released the industry’s first custodian-agnostic OTC settlement solution – Copper Network. Flow Traders’ full-stack integration enables further scaling of OTC operations by leveraging the built-in unified post-trade communication and settlement workflows of the Copper Network, in addition to identifying and establishing new counterparty connections.
The Copper Platform will serve as a new gateway to improve connectivity between Copper and Flow Traders mutual client-bases. Notably, Flow Traders can efficiently interact, transfer and receive assets to and from Copper’s expansive list of ETP Issuers for which Flow Traders serve as an Authorised Participant.
“Innovative structures like Copper’s Clearloop and the Copper Network are contributing to developing more mature crypto markets, which we believe will enhance trust across the digital asset ecosystem. Essentially, Copper’s infrastructure enables us to keep our funds secure off-exchange in a reliable structure, thereby significantly reducing counterparty risk.” said Michael Lie, Global Head of Digital Assets at Flow Traders.
“Trust is a recurring macro theme to unlocking broader adoption of both crypto and the underlying innovation in the space; therefore, we are actively leveraging and supporting structures like the one Copper has introduced to continue to improve markets.”
Dmitry Tokarev, Copper CEO, added: "We look forward to the collaboration with our partners at Flow Traders. This latest integration in our Copper infrastructure will be an additional development in enhancing secure connectivity for investor access to digital assets.”
