Through the integration, FlexTrade’s clients will be provided with direct access to the digital assets liquidity pool via FlexTRADER EMS and FlexONE OEMS.

The integration will also provide connectivity, consolidated depth of book and order placement within FlexTRADER and FlexONE.

“At Coinbase, we empower clients to execute complex digital asset trading strategies by offering access to some of the most liquid trading venues globally,” said Brian Foster, global head of wholesale at Coinbase.

“We are excited to make this available to FlexTrade clients through the OEMS.”   

FlexTrade’s multi-asset E/OMS offers institutional grade trading, compliance and analytics to the full order lifecycle of digital assets and cryptocurrencies.

FlexTrade stated that this integration is a continued step in the development of the firm’s digital asset offering.

Read more: In conversation with… FlexTrade’s Andy Mahoney

“This integration brings deep liquidity to FlexTrade’s digital asset clients including access to Coinbase’s execution algorithms,” said Uday Chebrolu, senior vice president of FX and digital assets at FlexTrade.

“This step marks our continued commitment to building a digital asset O/EMS addressing the needs of our multi-asset institutional clients across global markets.”   

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Clients of TS Imagine are now able to connect to Coinbase Prime through the all-asset execution and order management system, TradeSmart, alongside gaining access to the full range of crypto-trade functionalities native to the TradeSmart platform.

Institutional clients will also gain improved efficiencies from managing trading and investment in crypto, or any other asset class, within TS Imagine’s software as a service (SaaS) platform.

“With the connection to Coinbase Prime, our institutional clients can now access this important liquidity venue and trade cryptocurrencies in a safe, regulated way,” said Andrew Morgan, president and chief revenue officer at TS Imagine.

“We aim to offer the most comprehensive list of quality destinations for our clients while establishing an institutional-grade regulated path to trading digital assets, which in light of the recent market turmoil is what professional investors are looking for.”

Brett Tejpaul, head of Coinbase Institutional, added: “We’re pleased to offer TS Imagine’s institutional clients the highest level of secure trading execution and custody with access to Coinbase Prime.”

Late last year, Coinbase Prime partnered with Marex Solutions with a view to broaden institutional digital hedging and crypto investment capabilities for both organisations. The partnership looked to expand both of the firms’ respective crypto product offerings.

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Marex Solutions – a division of Marex Group that specialises in customised derivative products – offers a range of products within a wide list of crypto-underlyings, either in a securitised or in an (OTC) format, representing a traditional player in the digital asset space. Meanwhile, Coinbase, is known for its retail customer base, but has been pushing its prime services unit to fill a gap in the infrastructure for incumbent market participants.

The partnership will allow both firms to expand their respective crypto product offerings, with Marex Solutions and Coinbase Prime’s institutional clients gaining access to a broader universe of structured products based on crypto underlyings.

In a statement, Marex said the agency-only model adopted by Coinbase Prime suits its derivatives engine, allowing for multi-venue liquidity and best execution, enabling attractive pricing and reliable secondary market liquidity.

Marex already boasts a number of innovations in the crypto market, including the first ever autocallable on a crypto currency and the first ever securitised cash and carry trade on bitcoin.

“Both Marex Solutions and Coinbase are focused on empowering our collective institutional clients,” commented Nilesh Jethwa, Marex Solutions CEO. “We have deep expertise in hedging and investment solutions, while Coinbase is the clear market leader for accessing and storing crypto assets.

“Our partnership brings the best-in-class financial toolbox to digitally native players, while providing secure and easy access to crypto economics to traditional financial institutions. We’re building a two-way bridge between the traditional finance and digital worlds.”

Coinbase was one of three major crypto firms to launch its prime services offering in 2020 – alongside Genesis and BitGo – filling a much-desired gap in the market.

As digital asset platforms look to reach the lucrative segment of institutional investors, they are collectively adding crucial market structure cogs such as custody, fund administration and prime brokerage to their services.

The offering differs slightly from the traditional prime brokerage functions in the capital markets with some aspects missing, however trading services, custody, credit lines and lending appear to be part of the biggest digital asset platforms’ plans. Much like the traditional space, there could be a wide range of prime brokers in the years to come, but a dominant handful at the top end.

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