Cryptocurrency
Fidelity Taps ErisX Exchange to Boost Crypto Trading Liquidity
As reported on Coindesk, “Fidelity Digital Asset (FDA) is signing on as a member of ErisX’s clearinghouse, taking advantage of its central limit order book to provide better liquidity for buy and sell orders. “The companies announced the move Thursday, saying it makes ErisX’s spot market available to FDA’s customers. ErisX is the first exchange FDA has onboarded. “Terrence Dempsey, […]
As reported on Coindesk, “Fidelity Digital Asset (FDA) is signing on as a member of ErisX’s clearinghouse, taking advantage of its central limit order book to provide better liquidity for buy and sell orders.
“The companies announced the move Thursday, saying it makes ErisX’s spot market available to FDA’s customers. ErisX is the first exchange FDA has onboarded.
“Terrence Dempsey, FDA’s head of product, told CoinDesk that ErisX’s regulatory compliance, counterparty risk analysis and existing tools made the platform attractive for his company’s customers.
“’We have an execution platform that is connected to our custody offering that offers two things,’ he said. ‘One a matching engine, so we’ll look to cross client trades and if we can’t … we go out to a network of venues, or liquidity providers as we call them, that we can actually go and execute with.’
“ErisX CEO Thomas Chippas told CoinDesk the signing is ‘a great validation of what we’ve been working on for so long, which is to get these sorts of household institutional intermediary names into our market.’
“One of the company’s goals is to continue bringing traditional intermediaries into the crypto space, though he noted Fidelity Digital Assets in particular had been building out its crypto efforts, which include custody and execution services, for some time…”