Bringing liquidity and greater access to crypto trading, global Fintech leader, Broadridge Financial Solutions, Inc., has announced a partnership with Coinbase, offering interoperability between Coinbase Prime and Broadridge Trading and Connectivity Solutions' NYFIX order-routing network.
"Despite short-term cycles, momentum in institutional adoption is trending one way – toward more exploration and more interest, Utilizing the NYFIX order-routing network, this partnership puts deep, multi-venue crypto liquidity on more buy-side traders' desks, lowering barriers for participation in this growing asset class."
- Greg Tusar, Vice President of Institutional Products at Coinbase
Coinbase Prime is a comprehensive solution that provides an advanced trading platform, secure custody and prime services to manage crypto assets in one place. Coinbase Prime not only offers aggregated access to the majority of the market's crypto liquidity via a market-leading smart order router, but also provides full prime brokerage capabilities to the buy-side.
This integrated solution allows NYFIX clients to route order flow to Coinbase Prime via FIX, an industry standard protocol. It also allows buy-side traders to source crypto liquidity from Coinbase and trade right from their OMS. The solution is now offered to US domestic clients and will roll out to additional regions as regulations allow.
Institutions are increasingly interested in the crypto space but trading assets has remained a challenge because messaging is only available through proprietary API interfaces, Now, through Coinbase's deep access to liquidity and NYFIX's extensive market reach, we can integrate more than two thousand clients to bring crypto trading to the institutional market, said Ray Tierney, President of Broadridge Trading and Connectivity Solutions.
Broadridge Financial Solutions, a global Fintech leader with $5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than U.S. $9 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.
Coinbase is building the cryptoeconomy a more fair, accessible, efficient, and transparent financial system enabled by crypto. The company started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, Coinbase offers a trusted and easy-to-use platform for accessing the broader cryptoeconomy.